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A failed oil trader in Singapore that owes creditors more than $3.5 billion is suing Deloitte & Touche LLP, alleging the auditing firm failed to detect “serious irregularities” in its financial statements for more than a decade.

An Atlanta-area accountant was indicted on charges that he conspired to promote fraudulent tax breaks through land conservation deals that are the focus of a growing Internal Revenue Service crackdown.

Rep. Patrick McHenry called the move "partisan," and called on the board and the SEC to preserve all relevant documents.

Intuit is also launching a new discount program dubbed ProAdvisor Preferred Pricing.

Commissioner Rettig told the Senate Finance Committee that the value of the cryptocurrency market now tops $2 trillion.

The top 10 firms grew their share of the SEC audit market slightly, but the increase didn’t go to the biggest firms.

Capital gains at death; ounces of prevention; extremely dark money; and other highlights from our favorite tax bloggers.

The institute's Auditing Standards Board amended its standards Tuesday to include guidance in two areas.

Clients anticipate that audit fees will increase in 2021 due to the impact of inflation, COVID-19, acquisitions and divestitures, according to a survey by Gartner.

Some in Washington have slammed states for what they consider kicking their own residents while they’re down — against the intent of Congress.

The service offered highlights of tax season, the latest on stimulus packages, and more.

Several of the world’s most prominent billionaires paid minimal or no federal income tax in some years, ProPublica reported.

The Internal Revenue Service is sending letters to over 36 million families about how they may be able to qualify for monthly Child Tax Credit payments, beginning in July.

The KPMG Board Diversity Disclosure Benchmarking Tool lets corporate leaders, investors, staff and other professionals compare diversity board practices by sector, index and company size.

The work-from-home environment is producing tax complexities for companies and their human resources departments.

Barry Melancon of the AICPA and Erik Asgeirsson of CPA.com review the successes of the Paycheck Protection Program, and how accountants should be thinking about the future to guide their clients out of the pandemic.

The SEC abruptly fired William Duhnke as chairman of the Public Company Accounting Oversight Board. As part of the shakeup, PCAOB board member Duane DesParte will become acting chair, but the SEC plans to replace the entire slate of board members.

The proposal sets aside the Biden administration’s proposal to raise the headline corporate income rate to 28% from 21% — a non-starter for Republican lawmakers — though that could be pursued elsewhere.

Baker Tilly promotes 24 to partner; NJCPA announces virtual convention; and more CPA news.

The unemployment rate declined 0.3 percentage point to 5.8%, as the economy slowly recovers from the COVID-19 pandemic.