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Wells Fargo Fined $3.7 Billion by Consumer Financial Protection Bureau
The Trusted Professional
Wells Fargo Bank has been ordered to pay $3.7 billion for its widespread mismanagement of many of its product offerings by…
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Favored Tax Provisions May Be Left Out of Congressional Budget Bill
Taxation
Hope is dwindling that Congress will reach a budget deal that gives both Democrats and Republicans important policy…
Read More
Presenting Positive Financial Report, IRS Is Also Faulted for Poor Service by GAO
Taxation
The IRS took in trillions of dollars and distributed billions in refunds and other outlays, accord to its recently recent…
Read More
Mazars Pauses Work on Crypto Clients
Auditing
Mazars has paused work on all cryptocurrency clients, including Binance, the world’s largest crypto exchange, multiple…
Read More
PCAOB Secures Full Access to Inspect Chinese Audit Firms
The Trusted Professional
The Public Company Accounting Oversight Board (PCAOB) has, for the first time ever, "secured complete access to inspect and…
Read More
FASB Considers Issuing Proposed Rule on Disclosures for Digital Assets
Accounting
The Financial Accounting Standards Board (FASB) is preparing a new rule proposal that would improve the accounting for and…
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IRS Expected to Improve IT Services Over Next Few Years
Taxation
The $80 billion in funding to the IRS provided by the Inflation Reduction Act is expected to be used to improve many of the…
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NASBA and AICPA Propose Revisions to CPE Provider Standards
The Trusted Professional
The National Association of State Boards of Accountancy (NASBA) and the American Institute of CPAs (AICPA) have proposed…
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IRS Urges Taxpayers to Wait for 1099-Ks if They Received Third-Party Payments Exceeding $600
Taxation
The IRS has provided a number of tips to prepare taxpayers for filing season, including paying attention to a change in the…
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