Audit & Accounting

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.

The Securities and Exchange Commission's Office of Economic Analysis has extended the deadline to January 31 for public companies to participate in a Web-based survey about the costs and benefits of Section 404 of the Sarbanes-Oxley Act.

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.