The new effort involves the FASB adding narrow-scope projects to its agenda that were identified by stakeholders as areas where US accounting rules could be simplified in a relatively short period of time.
The new guidance adopted on Tuesday focuses on related-party transactions, significant unusual transactions, and a company’s financial relationships and transactions with its executive officers – key factors in many financial reporting frauds.
The menu for June 10 features specials on House GOP alleges IRS data dump was illegal, Senate lawmakers squabble over use of repatriated tax holiday, ex-BDO vice chairmen get jail time over tax scheme, and more.
Salaries for finance leaders in private and public companies in 2014 have increased 3.3 percent and 3.4 percent, respectively, according to a new survey released by Grant Thornton and the Financial Executives Research Foundation.
The menu for June 6 features specials on Senate tax writers slate summer hearings on tax reform, more larger companies turning to smaller audit firms, Tax Foundation refutes report on corporate taxes, and more.
The number of CPAs and financial executives who are optimistic about the US economy has surpassed the 50 percent mark for the first time since the recession, according to a new AICPA survey released on Thursday.
The menu for June 5 features specials on the SEC extending settlement schedule with Big Four firms in China, a health insurance strategy the IRS may not approve of, Fortune 500 companies’ tax shelters, and more.
According to a new Protiviti survey, 48 percent of the more than 600 audit executives and professionals surveyed reported that their organization had not yet applied the new internal control framework as of the first quarter of 2014.
The menu for June 4 features specials on Senate tax extenders bill stalled until November, tax-evasion probe targets another Swiss bank, tactic Walmart uses to slash its tax bill, PwC resigns as Annie’s auditor, and more.
The Los Angeles-area jeweler, who was sentenced on Monday, received confidential client information and stock tips from London that helped him make at least $1.6 million in illicit profits over a two-year period.
In a letter last week, a bipartisan group of more than 110 House legislators urged Ways and Means Committee Chairman Dave Camp not to repeal the last in, first out inventory accounting measure in his tax reform plan.
The menu for June 2 features specials on how taxes could curb consumption of sugary drinks, tax question looms over Illinois governor’s race, roads – not gas – should be taxed, Donald Sterling’s huge tax bill, and more.
KPMG officials said the acquisition, which will be finalized in the coming weeks, will boost the Big Four firm’s presence in the alternative investments industry and capital markets, including hedge funds.