Tommaso Padoa-Schioppa, who was appointed only six months ago to oversee the board that sets international accounting standards, died of a heart attack on Saturday night.

Eighty percent of CPA firms reported either a decline in revenue, no growth, or modest growth between May 2008 and June 2010, according to a new survey by the American Institute of CPAs and the Texas Society of CPAs.

The Governmental Accounting Standards Board has issued revisions to its financial reporting entity standards to better account for business-type activities at government-run institutions such as state universities.

Check out the digital edition of the December 13, 2010-January 10, 2011 issue of Accounting Today.

KPMG reported a 2.6 percent increase in annual revenue worldwide Thursday to $20.63 billion from $20.11 billion, a 0.1 percent increase in local currency terms.

Accounting bodies from three countries have found an increase in sustainability strategies to address climate change, particularly within large companies.

The Public Company Accounting Oversight Board has established a new Office of Outreach and Small Business Liaison.

The Small Business Administration has launched two new initiatives designed to increase lending to underserved communities and make the process go faster.

Accounting Today is in the midst of compiling its annual lists of the Top 100 Firms and Regional Leaders.

Microsoft and the Small Business Administration have introduced a free technology guide to help small businesses grow and create jobs.

Two years after revelations emerged of Bernard Madoff’s multibillion-dollar Ponzi scheme and only days after the suicide of Madoff’s eldest son, the Public Company Accounting Oversight Board proposed a set of rules on Tuesday to begin expanding the PCAOB’s oversight authority to encompass audits of securities brokers and dealers.

AUDIT FIRMS OFFER ADVICE ON NEW CLIENTS

As we prepare for the replacement of SAS 70 by SSAE 16, articles and vendor whitepapers are flooding the landscape.

Washington, DC - The Securities and Exchange Commission has published its inaugural progress report on the work plan related to the move to global accounting standards.

The Financial Accounting Foundation, the organization that oversees the Financial Accounting Standards Board and the Governmental Accounting Standards Board, has launched a new Web site to expand awareness of its mission, operations and activities.

The International Accounting Standards Board has proposed new standards that aim to simplify the accounting for hedging activities.

A pair of senators have written to Treasury Secretary Timothy Geithner encouraging him to get two recently approved programs for increasing lending and credit for small businesses up and running.

The Senate has unanimously approved a clarification to the Federal Trade Commission’s oft-delayed Red Flags rule after lobbying by the American Institute of CPAs and a variety of state CPA societies.

Harold Katz, one of the founders of the organization CPAs Reforming Our Profession, or CROP, has died at the age of 77.