The heads of the major accounting regulators in the U.S. and the European Union agree that they are on the same page in heading towards convergence of standards.Speaking at a meeting in Washington, Public Company Accounting Oversight Board Chairman Mark Olson and EU Commissioner Charlie McCreevy said that the profession's regulators on both sides of the Atlantic should be on the same page for 2009. Olson said that the PCAOB will consider issuing further policy guidance regarding its reliance on non-U.S. regulators and will consult with key jurisdictions worldwide, including the European Commission and the EU member states, as part of developing such potential guidance. Both sides will take stock and review their progress in October.
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The Trump megalaw's expansion of opportunity zone credits and other investment approaches comes with caveats based on timing and taxes.
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The Internal Revenue Service's plan under the Biden administration to audit high-income taxpayers appears less likely after staffing and budget cuts.
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The Big Four firm has acquired certain assets of a boutique firm specializing in fiduciary trust services, based in Cincinnati.
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Wolters Kluwer announced a version of CCH Validate that is now entirely in the cloud.
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The VeritShield service offering is designed to help firms actively build and maintain a Written Information Security Program as required by the IRS.
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The Public Company Accounting Oversight Board today sanctioned Goldman & Company, CPA's, Raymond Chabot Grant Thornton, and PWR CPAs.
July 11