News

The Dodd-Frank Act continues to prompt concerns among lawmakers. Republicans want to repeal portions, while Democrats oppose attempts to ease measures. Lawmakers are expected to clash again this week as the House considers changes recently blocked by Democrats.

The AICPA urged Rep. Paul Ryan, R-Wis., the new chair of the House Ways and Means Committee, to follow the AICPA’s principles of good tax policy to guide tax reform, and it offered detailed comments on the tax reform proposal […]

The U.S. economy created 252,000 jobs in December, beating economists’ forecast of 240,000 jobs. The unemployment rate fell to 5.6%, compared with 5.8% in November.

Federal Reserve officials have expressed growing optimism that the U.S. economy has begun a sustainable recovery, according to minutes of the Federal Open Market Committee’s December meeting. Members said growing payrolls and falling oil prices stand a good chance of […]

The U.S. services sector expanded last month at the lowest rate since June, according to an Institute for Supply Management index. The benchmark reached 56.2, down from November’s 59.3 and short of a 58.5 forecast by analysts surveyed by Thomson […]

The Standard & Poor’s 500 index Monday posted its biggest one-day fall since Oct. 9 as plummeting global oil prices triggered a sell-off of energy shares. The Dow Jones industrial average gave up as much as 2%.

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,” […]