4+ day, 10+ hour ago   (116+ words) news.bloombergtax.com The US audit watchdog approved a scaled-back version of its firm governance overhaul that strips out provisions backed by investors, including independent oversight of quality safeguards. Auditors have until December to adopt the new quality control standard…...

1+ week, 2+ day ago   (143+ words) The IRS reached an agreement with a New York couple that they no longer owed taxes or penalties, after previously disallowing their $965,000 theft loss deduction related to a cryptocurrency investment scam, according to a US Tax Court decision Friday. Brian…...

1+ week, 6+ day ago   (98+ words) news.bloombergtax.com A vast majority of the congressional endorsements a key cryptocurrency group has issued this election cycle have either been in races deemed uncompetitive or where two pro-crypto candidates already are facing off, a Bloomberg Government analysis found....

1+ week, 6+ day ago   (111+ words) news.bloombergtax.com The US accounting board’s newest member says she will prioritize corporate and investor feedback as the rulewriter takes up some of the most pressing topics in financial reporting, from crytocurrency to private credit. Nearly two months into…...

2+ week, 5+ day ago   (816+ words) Coinbase Global Inc.’s new general counsel Molly Abraham is re-engineering the legal group she now leads to maximize the impact of artificial intelligence. Abraham, who began her career two decades ago as a product development engineer at Procter & Gamble…...

2+ week, 6+ day ago   (377+ words) It’s now not just about whether the money is available, but what happens to law firm culture once an investor has a stake in the outcome. The firms most likely to benefit from private equity aren’t the ones that chase…...

3+ week, 3+ day ago   (108+ words) news.bloombergtax.com The head of CME Group Inc. told the chairman of the Commodity Futures Trading Commission that the agency needed to do more to prevent manipulation on prediction markets as the trading startups grow into multibillion-dollar businesses. The…...

3+ week, 4+ day ago   (113+ words) news.bloombergtax.com President Donald Trump pressed Congress to pass digital asset market structure legislation that is a top priority for the industry, as he hosted cryptocurrency executives at the White House on Wednesday. Trump cast the so-called Clarity Act…...

3+ week, 4+ day ago   (113+ words) news.bloombergtax.com Veradigm Inc. and two former top executives must contend with investor allegations over the health-tech company’s accounting practices in the early 2020s, but claims against its ex-auditor Grant Thornton LLP weren’t specific enough to proceed, a federal judge…...

3+ week, 5+ day ago   (106+ words) news.bloombergtax.com Companies will gain tools to better assess whether certain cryptocurrencies like stablecoins can be treated similarly to cash in their financial reports under a new accounting proposal. The Financial Accounting Standards Board published a draft plan Tuesday…...