According to a recent survey from the Audit Executive Center of the Institute of Internal Auditors (IIA), internal audit departments are putting a greater focus on compliance risks and less emphasis on SOX.
In response to a lawsuit initiated by Tax Analysts, a nonprofit publisher of tax information and expert analysis, the IRS has released almost 3,000 pages of training materials used by its EO division, most of them dating from 2012.
The IRS International Campus Compliance Unit has improved international tax compliance of individuals to the tune of 18,000 audits conducted and approximately $36 million in additional taxes assessed for fiscal years 2011 through 2013.
When Freddie Mitchell entered his plea deal last March, he'd live to regret it, he now says. The former wide receiver thought the deal was the best way to go, after an investigation showed he was neck deep in tax fraud.
A new guide released on November 8 by the Financial Reporting Executive Committee of the AICPA provides accountants, auditors, and valuation specialists with guidance for impairment testing of goodwill.
The IRS doesn't always try to catch the biggest fish in the pond. Case in point: It has announced it will devote more resources to auditing various pass-through entities instead of focusing on the traditional corporate targets.
An updated print edition of the Governmental Accounting Standards Board (GASB) Codification of Governmental Accounting and Financial Reporting Standards was released by the GASB's parent organization, the FAF, on November 5.
UPDATE: Our recent article listed what NFL players can deduct on their taxes, and two of those deductions are making headlines in sports news this week: fines for personal behavior and rookie hazing expenses.
Which isn’t completely true. I mean, occasionally I drop by when I manage to sneak out of the nonstop frat party over at Going Concern, but I’m mostly a wallflower over there. I’m happy to say that I’ve been given express permission (or explicit orders, if you like) to wander over here to AccountingWEB more often.
Why is that, you might ask? My job is to replace the irreplaceable Gail Perry as Editor-in-Chief. What does that mean? I don’t really know! I think it’ll be fun getting a feel for things, throwing in my own thoughts here and there, and listening to the discussions you’re having about the accounting profession.