A recent report revealed that financial executives, internal auditors, external auditors, and board/audit committee members differ as to who is responsible for detecting and preventing financial statement fraud.
The 2014 tax-filing season, which was scheduled to begin on January 21, 2014, will be delayed approximately one to two weeks as a result of the recently concluded federal government shutdown, the IRS announced October 22.
A seventy-five-cent increase in Chicago's cigarette tax that is being proposed by Mayor Rahm Emanuel will likely be included in the city's 2014 budget, which will be presented to the Chicago City Council October 23.
A two-year-old Illinois law that required all businesses to collect state sales tax on purchases made by Illinois residents – whether or not the merchant had a physical presence in the state – was invalidated by the Illinois Supreme Court October 18.
The IRS has made no significant improvement in reducing improper Earned Income Tax Credit (EITC) payments, according to a report publicly released October 22, 2013, by the Treasury Inspector General for Tax Administration (TIGTA).
Every firm is working through the succession maze and dealing with the exit of key partners in the firm. It's the Baby Boomer bubble up close and personal, which I have written about and which every firm that I work with is dealing with.
The IRS is requesting applications for membership to serve on the Advisory Committee on Tax Exempt and Government Entities (ACT). Written applications or nominations must be received on or before November 4, 2013.
The AICPA announced Bob Graham, former US Senator and former Florida Governor, as the recipient of the AICPA Medal of Honor. Graham was presented the award by AICPA Chairman Richard Caturano, CPA, CGMA.
As IRS employees are returning to work following the conclusion of the sixteen-day federal government shutdown that ended late last week, the agency said on October 18 it is assessing the impact the work stoppage had on its national operations.
Young, beautiful Philippine designer Jeane Catherine Napoles filled a bathtub full with currency, climbed in, and took a photo of herself bathing bare in a sea of money. Then she posted it on social media.
Farmers and ranchers who previously were forced to sell livestock due to drought have an extended period of time in which to replace the livestock and defer tax on any gains from the forced sales, the IRS announced October 18.
Randolph Scott of Doylestown, Pennsylvania, an attorney whose practice included estate and probate matters, was charged by Indictment on October 3, 2013, with defrauding a client's estate of more than $1.7 million.
What's your most powerful new business tool? For almost every accountant I talk to, it's word of mouth. But when I ask them what they're doing to grow their referrals, I'm often met with an uncomfortable silence.
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.