SEC

The Securities and Exchange Commission has approved the Financial Accounting Standards Board’s 2019 GAAP Financial Reporting Taxonomy, along with the 2019 SEC Reporting Taxonomy, FASB said Tuesday.

SEC appoints Acting Chief Counsel, Office of the Chief Accountant; Avalara expands executive team; and other recent hires, promotions and personnel news from firms across the country.

The food maker flagged to investors a subpoena it received last year from the U.S. Securities and Exchange Commission related to its procurement practices.

Deloitte’s member firm in Japan, Deloitte Touche Tohmatsu LLC, is paying a $2 million settlement to the U.S. Securities and Exchange Commission to resolve charges that it issued audit reports for a client at the same time dozens of its employees had bank accounts at a subsidiary of the client.

Two firms dominate an otherwise slow quarter for new engagements.

The SEC and FASB control the process now, but Congress should give banking regulators a more central role in overseeing the creation of accounting rules.

The Securities and Exchange Commission has imposed a civil penalty on the car rental giant for misstating pretax income.

The client collapsed after it was discovered to have $100 million in unpaid payroll tax liabilities.

The Public Company Accounting Oversight Board has been pilot testing its upcoming requirements for auditors.

The $273.7 million budget represents a 5 percent increase from last year.