Finance

South Florida accounting firm Daszkal Bolton is the latest to offer services to clients who have suffered losses from Bernard Madoff's $50 billion Ponzi scheme.

One of the fastest-growing practice niches among CPA firms over the past several years, forensic accounting has ushered in an era in which CPAs are in constant demand as expert witnesses and in other litigation support capacities.

The incoming chair of the Securities and Exchange Commission, Mary Schapiro, criticized the International Accounting Standards Board and expressed reluctance to move to International Financial Reporting Standards.

With the election over, we now must focus on what real changes will advance the markets.

The House Ways and Means Committee has passed a bill containing $275 billion in tax cuts as part of the overall economic stimulus package, approving it on a party-line vote of 24 to 13.

Not enough regulation, too much regulation, bad regulation and bad acts are among the allegations blitzing media reports. Integrally related are regulatory environments, political settings, tax regimes, incentives and behavior. One can succinctly tell the story by pondering the answers to a series of questions, all of which reveal the not-too-invisible hand of government.What happens when money is persistently available at less than historical risk-free rates and the government co-opts over half of the housing lending market traditionally serviced by the private sector?

The Senate has approved Mary Schapiro by a unanimous vote as the next Securities and Exchange Commission chairman.

CCH has created a CCH Financial Crisis News Center with news about the financial crisis and links to the text of source documents.

The U.S. Chamber of Commerce has sent a letter to Congress signed by 27 U.S. companies asking for a two-year easing of taxes on debt purchases to be included in economic stimulus legislation.

The Senate Finance Committee has approved Timothy Geithner as the next Treasury secretary despite concerns over his taxes.

Accounting firm Wipfli has created a task force to help companies cope with the financial crisis.

The Securities and Exchange Commission will make sure that companies are properly using fair value accounting and not deceiving investors, warned an SEC official.

Treasury Secretary-designate Timothy Geithner apologized for his tax mistakes and promised reforms of both tax policy and the controversial Troubled Assets Relief Program during a confirmation hearing.

An online survey of about 1,445 finance and technology professionals by Deloitte Financial Advisory Services found that 58.4 percent expect the recession to last for another two to three years.

The International Auditing and Assurance Standards Board has issued a practice alert to help auditors and management assess the impact of the credit crisis on going-concern assumptions.

KPMG has named a new chief information officer and a new leader of its tax restructuring and corporate recovery practice.

The House has approved legislation to close loopholes and provide more transparency in the controversial Troubled Assets Relief Program.

California Controller John Chiang said the state's budget crunch could force him to delay tax refunds and other planned expenditures.

The inspiring inauguration of President Barack Obama marked a historic moment and is sure to signal some broad tax policy changes in his administration.

Bernard Madoff's longtime auditor is gravely ill with cancer and his family has reportedly lost much of their money from investing in the $50 billion Ponzi scheme.