Valeant Pharmaceuticals International Inc. shares slumped as Chief Executive Officer J. Michael Pearson’s defense of the drugmaker’s accounting and ethics failed to resonate with investors fretting about its relationship with a mail-order pharmacy.

The oil and gas industry’s earnings season is barely underway, and already there’s been $6.5 billion in writedowns.

A senior Republican senator said lawmakers need better data on Puerto Rico’s financial situation before helping the island, as the Obama administration and the territory’s governor stepped up their warnings about the depths of its crisis.

The Internal Revenue Service recently proposed regulations that could have a big impact on U.S.-based multinational corporations that are considering incorporating a foreign branch operation or transferring intellectual property abroad.

The Securities and Exchange Commission reported Thursday on its enforcement results in fiscal year 2015, highlighting several cases involving accounting and auditing lapses.

The dizzying rise and rapid fall in the shares of drugmaker Valeant Pharmaceuticals International Inc. is eerily familiar to Canadian investors still smarting from the last time a small market was dominated by single stocks—BlackBerry Ltd. and Nortel Networks Corp.

There is a powerful alternative that is increasingly being used to deal with excess problematic inventory: corporate barter.

The Treasury Department and the Internal Revenue Service proposed tax regulations Wednesday to bring the rules in line with recent Supreme Court decisions.

Starbucks Corp. and a Fiat Chrysler Automobiles NV unit must each pay as much as 30 million euros ($34 million) in back taxes after the European Union said they were handed illegal fiscal deals by the Netherlands and Luxembourg.

The Anti-Fraud Collaboration introduced a free set of online self-study courses Tuesday for corporate ethics training that can provide continuing professional education credit.

Three former top executives of Dewey & LeBoeuf LLP avoided potential prison terms after a Manhattan jury failed to agree on whether they lied to investors in the run-up to the largest law-firm bankruptcy in history.

Earlier this week, Accounting Today hosted a Web seminar on Understanding Affordable Care Act Reporting.

Starbucks Corp. and a Fiat Chrysler Automobiles NV unit are set to be first in the firing line as European Union regulators issue a series of rulings over tax breaks for global companies, including Apple Inc.

An overwhelming majority of corporate board directors oppose the Securities and Exchange Commission’s proposal to require mandatory disclosure of communications between audit committees and auditors, according to a new survey.

With states and localities increasingly looking to collect taxes from people and businesses that buy goods and services online, many taxpayers may not be aware that they could be overpaying sales and use taxes.

The Financial Accounting Standards Board’s 2007 standard on accounting for uncertainty in income taxes, FASB Interpretation No. 48, or FIN 48, has helped discourage companies from using tax reserves to manage their quarterly earnings reports, according to a new study.

Financial restatements can prompt similar companies to misstate their own earnings, according to a new study.

While life insurance can be an income tax-free asset when structured appropriately, the income tax laws may result in the transfer of life insurance policies that are income taxable to both the transferor and the transferee.

Senior tax executives are preparing for changes in the tax landscape as a result of the Organization for Economic Co-operation and Development’s base erosion and profit shifting project.

British Petroleum will be able to write off $15.3 billion of the $20.8 billion settlement of the 2010 Deepwater Horizon oil spill in the Gulf of Mexico, according to an advocacy group.