The New York Attorney General has filed a lawsuit against Ernst & Young, accusing the firm of helping Lehman Brothers hide its financial weakness from investors from 2001 until the investment bank collapsed in 2008.
Most of the richest Americans that populate the annual Forbes 400 list gained their wealth by owning founders' stock. Allowing favorable tax treatment on this stock might be costing taxpayers by $100 billion a year, or $1 trillion over ten years.
A proposed ruling from the U.S. Securities and Exchange Commission exempts family offices from any requirement to register with the SEC under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
July was a busy month for the SEC. Five of the enforcement cases charged or settled that month involved large, well-known companies, including KBR, Goldman Sachs, Dell, General Electric, and Citigroup.
Vault.com, a source of ratings, rankings, and insight for students and professionals, recently released lists of top accounting firms in various categories, including: best to work for, prestige, and quality of life.
South Dakota's tax system is most welcoming to economic activity while New York's tax code ranks 50th as the least hospitable, according to the Tax Foundation's most recent edition of the State Business Tax Climate Index, which ranks the tax systems of the 50 states.
The largest U.S. accounting firms believe they are nearly 100 percent focused on client needs and expectations, and perceived by their clients as technologically savvy, with the adoption of paperless and cloud-based technologies, according to a recent survey.
Now that the third Long Island College Accounting Challenge is over, it's time to recognize the competition, celebrate the victors, and start planning for next year. Students of SUNY at Old Westbury emerged victorious for the second time in three competitions.
Rep. Charles Rangel (D-N.Y.) once again is in the news for ethics violations. For more than two years, Rangel, the former chairman of the House Ways and Means Committee, has been the target of an investigation involving a growing list of charges.
The arts reflect the culture that the artists are observing, so what do the patterns and kernels of truth in the films, books, etc, of today tell us? What will engage members of Generation X to be the leaders and achievers they need to be?