Tax authorities in the United States and around the world are stepping up their scrutiny of multinational companies' cross-border transfers. A report from KPMG lists the red flags and identifies ways to mitigate the risk.
The Securities and Exchange Commission voted to publish for public comment its long awaited proposed road map that could lead to the use of International Financial Reporting Standards (IFRS) by U.S. issuers beginning in 2014.
The efforts of a Washington-based conservative think tank, the Competitive Enterprise Institute (CEI) to bring down the Public Company Accounting Oversight Board (PCAOB) were thwarted by the Court of Appeals for the District of Columbia.