News

Oil prices continued their plunge on global markets. U.S. crude fell to $51.36 a barrel and Brent crude dropped to as low as $54.85 a barrel, both the lowest prices since May 2009.

U.S. gross domestic product grew an annualized 5% in the third quarter, raising hope that the economic recovery is picking up momentum. The expansion marks the fastest quarterly growth rate since 2003. Growth in 2015 could approach that of boom […]

The Securities and Exchange Commission wants companies to tighten accounting procedures and controls around their cash-flow statements in light of the growing number of restatements. Companies should step up “risk assessment and monitoring controls in addition to control activity-level controls,” […]

Behind on your holiday shopping? See which high-tech gifts may be high on CPAs’ wish lists this year.

The 2015 U.S. GAAP Financial Reporting Taxonomy is available, pending Securities and Exchange Commission approval, the Financial Accounting Standards Board announced Thursday.

The Federal Reserve has changed its position on monetary policy, shifting from keeping interest rates low for a “considerable time” to being “patient” on when to raise rates. One interpretation is that rates will not climb until at least April.

In a new concept of practice monitoring that the AICPA envisions for the future, peer reviewers and firms will use a new technology platform to enable more thorough analysis and provide more timely feedback for accounting, auditing and attestation engagements. […]

The Federal Reserve’s free-money policy could end this week. The central bank is meeting Tuesday and Wednesday and is expected to end its two-year pledge to keep interest rates close to zero for a “considerable time” now that its asset-purchase […]

Debate is set to begin in the Senate on a $1.1 trillion spending bill to head off a U.S. government shutdown. The House passed the measure in a 219-206 vote Thursday night. Its version would fund most of the government […]