The Group of Seven rich nations secured a landmark deal that could help countries collect more taxes from big companies and enable governments to impose levies on U.S. tech giants such as Amazon Inc. and Facebook Inc. The agreement by the G-7 finance ministers in London satisfies a U.S. demand
The Securities and Exchange Commission abruptly removed William Duhnke as chairman of the Public Company Accounting Oversight Board on Friday. As part of the shakeup, PCAOB board member Duane DesParte will become acting chair, but the SEC plans to replace the entire slate of all five board members. The SEC’s
Auditing work on Hong Kong’s listed companies needs a “significant improvement” with almost three-quarters of inspections showing sub-par work, according to the accounting industry watchdog. In inspections, 73% of the cases showed a need for “improvement” or “significant improvement,” the Financial Reporting Council said. More than 80% of the audits
Bait, switch and threaten; power corrupts; Herbal remedy; and other highlights of recent tax cases. Jacksonville, Florida: Tax preparer Kenyan Shondre Scott has been sentenced to 18 months in prison for aiding and assisting others with the filing of fraudulent returns and for filing fraudulent returns on his own behalf.
As companies come under increasing pressure to deal with climate change and diversity, their internal auditors are putting more emphasis on making sure environmental, social and governance reports are reliable. A new report released Wednesday by the Institute of Internal Auditors explains some of the challenges involved with providing assurance
Fifty years of preparing taxes; golden days for whistleblowers; confusion in Colorado; and other highlights from our favorite tax bloggers. Nothing’s free Mauled Again (http://mauledagain.blogspot.com/): As fresh today as the day it was penned: “In order for a person to have something for free, someone else must pay.” The Wandering
Writing something that people would want to read is essential to establishing yourself as an expert, publicizing your practice, sharing what you know and your experience, and learning more about your topic. Further, by letting your clients and contacts know about it, your reputation will start to be established and
President Joe Biden’s proposed tax hikes are forecast to bring in $3.6 trillion over the next decade, the Treasury Department said Friday, a key funding source for the $4 trillion he hopes to spend remaking the American economy and social safety net. The figure, representing the sum of all tax
Bookkeep gets $3.3 million to develop data entry automation Bookkeep, which makes data entry automation software for accountants, has closed its first venture-financing round, attracting $3.3 million. Bookkeep.com’s SaaS application aggregates financial data from e-commerce and point of sale systems, then summarizes and posts the data to the accountant’s accounting
President Joe Biden issued his first full budget proposal Friday, detailing his ambitions to dramatically expand the size and scope of the federal government with more than $6 trillion in spending over the coming fiscal year, paired with significant tax increases on corporations and the wealthy. But Congress controls the
