The CFA Institute told the Securities and Exchange Commission that its long anticipated decision on whether or not to incorporate International Financial Reporting Standards into the U.S. financial reporting system should wait until the SEC completes its work plan for incorporating IFRS.

The outlook on the U.S. economy declined further among CFOs, controllers and CPAs in executive and senior management accounting roles in the third quarter, according to a survey by the American Institute of CPAs.

The Financial Accounting Standards Board and the International Accounting Standards Board have updated the computer-readable tags for their accounting standards and exposed them for public comment.

ALTERNATIVE NO MORE

The International Accounting Standards Board has proposed revising its standards in order to define investment entities as a separate type of entity that would be exempt from the requirements for consolidated financial statements.

The Securities and Exchange Commission has reached a settlement with the former CFO of Beazer Homes USA to recover his bonus and stock sale profits from the time when the home-building company was committing accounting fraud.

Kansas accounting firm Summers Spencer & Co. has absorbed Overland Park, Kan.-based accounting firm James F. Gillespie CPA through a merger, reported the Kansas City Business Journal.

IMGCAP(1)]As accountants and tax attorneys, we often find ourselves in conversation with our peers about the constitutionality of state taxation.

Financial services conglomerate Bloomberg and tax publisher BNA have entered into an agreement for Bloomberg to acquire all outstanding shares of BNA in a deal worth roughly $990 million, it was announced Thursday.

IMGCAP(1)]The SEC's proposed changes to broker-dealer financial reporting regulations could have a major impact on auditing firms that service broker-dealers.

A new report from the Treasury Inspector General for Tax Administration concludes that the IRS needs to improve the timeliness and accuracy of its response to taxpayer complaints about math error adjustments.

McGladrey & Pullen announced Tuesday that its board of directors has reached an agreement with H&R Block to purchase back RSM McGladrey Inc. for $610 million, reuniting the assurance, tax and consulting practices under an integrated McGladrey & Pullen partnership structure.

For as long as I've been eligible to vote, I've always been a proponent of term limits. I believe being elected by a voter constituency to serve in any capacity is an honor and privilege, not an occupational annuity.

Governor Andrew Cuomo has signed a CPA mobility bill into law in New York State.

The Securities and Exchange Commission has been asked to respond to allegations that it destroyed documents relating to thousands of investigations.

Non-GAAP earnings numbers are better at predicting a company’s future earnings potential, but they are more subject to opportunistic manipulation and insider trading, a new study finds.

The American Institute of CPAs has recommended that the Securities and Exchange Commission permit public companies in the U.S. to adopt International Financial Reporting Standards on an optional basis.

The Public Company Accounting Oversight Board voted Tuesday to issue a concept release that proposes requiring public companies to change their auditing firms after a certain number of years.

The Public Company Accounting Oversight Board plans to hold an open meeting next Tuesday to discuss its proposed regulations calling for greater auditor independence and mandatory rotation of audit firms.

The Securities and Exchange Commission’s new whistleblower program took effect Friday, and the SEC has created a new Web page where people can report a violation of the federal securities laws and apply for a financial award.