Accounting

An Alabama federal district court held that the Corporate Transparency Act is unconstitutional, stating it "exceeds the Constitution's limits on Congress' power."

Investors have filed a lawsuit against an accounting firm alleging it helped a client maintain a Ponzi scheme involving cash advances that led to the loss of millions of dollars.

The Top 100 Firm also announced the first three member firms of the network, which will focus on food and agriculture clients.

The Chicago-based agricultural commodity trader said the issue with internal controls relates to the way it reports sales between segments.

KPMG and its partner Adrian Wilcox failed to audit the advertising agency with sufficient professional skepticism, according to the Financial Reporting Council.

The development comes as Trump is appealing a trial loss that resulted in a $454 million judgment against him and his company for inflating the value of assets by billions of dollars.

A roundup of the flood of sanctions, fines and penalties issued over the past year or so by the PCAOB.

The regulatory environment around accounting is getting stricter, as the IRS, the SEC and the PCAOB crack down.

The lack of help means current accountants' hours and workloads can be grueling, upping the odds of mistakes and burnout.

The Securities and Exchange Commission has scheduled a meeting on its long-awaited climate disclosure rule.

An early pioneer in the ESOP space, Katz, Sapper & Miller now advises clients on the alternative business structure.

Despite suggestions to the contrary, audits remain valuable and serve a grander purpose.

The Financial Accounting Foundation is reviewing the effectiveness of the Private Company Council, the group that advises the Financial Accounting Standards Board about the perspective of privately held companies.

Complex transactions in this industry can trigger accounting and reporting issues that may result in SEC letters, restatements and challenging conversations with investors.

While most accountants are aware of the reporting requirement, the majority of business owners are likely to be, at best, dimly aware of them.

The Public Company Accounting Oversight Board is proposing a new rule to prevent auditing firms from making false or misleading statements about being registered or overseen by the PCAOB.

One high point of the trial was the testimony of Oliver North, who said that in 2019 he pushed for an outside audit of the NRA's finances but longtime leader Wayne LaPierre refused.

It's not just the 150-hour rule for obtaining a CPA license that may be the culprit for the talent shortage, according to an academic study.

Most companies are providing some disclosures about their sustainability efforts, but not as many are getting assurance on their numbers from auditing firms.

If you audit or manage a startup company or other privately held business, don't overlook the treatment of stock-based compensation.