The Latest

The Public Company Accounting Oversight Board has proposed a new ethics rule on communicating with audit committees concerning independence.

United States v. Stein, a U.S. District Court for the Southern District Court opinion (July 17, 2007) by District Judge Lewis Kaplan, is fascinating reading, and may have significant implications for a number of firms.

LogicManager released an upgrade to its LogicERM enterprise risk management software that takes advantage of the new AS5 risk-based audit standard.

KashFlow has introduced a Web service to help small and midsized Web retailers do their accounting.

A former tax return preparer has been sentenced to 151 months in prison for participating in a tax fraud scheme to hide income and assets in bogus trusts, according to the U.S. Justice Department.

Significant internal control weaknesses remain in the preparation of the U.S. government's consolidated financial statements, according to a report from the Government Accountability Office.

India plans to bring its accounting standards in line with International Financial Reporting Standards by April 1, 2011.

Nearly eight months after implementing their first document management system, employees at San Francisco, Calif.-based Rowbotham & Co. LLP are discovering the benefits of going paperless - or, more accurately, of using less paper."The advantage is definitely the flexibility of being able to retrieve the documents from anywhere, whether at home or at a client site," explained Cindy Hsieh, a tax manager at Rowbotham & Co., which uses Thomson Tax & Accounting's GoFileRoom, adding that she particularly likes the application's search feature. "For example, if you're looking for a document but cannot recall which client it came from or where you saved it, you can search by keyword and retrieve the files that way."

Those in Congress looking to lower the tax burden for America's middle class are likely to make things worse for the nation's working families, independent tax experts warned the Senate Finance Committee.

The reduction in the number of malpractice claims against CPA firms in 2004 and 2005 has led to a softening of today's market, according to several of the nation's insurance providers."It's not exactly soft, but it's softening," said Gary B. Sutherland, chief executive of Framingham, Mass.-based North American Professional Liability Insurance Agency.