U.S. tech firm Apple has been ordered by the European Commission to pay €13bn (U.S. $14B) in back taxes, a move that has many up in arms and worried it may set a precedent for U.S. firms operating overseas. Neil Hodge has more.
True to its word, the Financial Accounting Standards Board is preparing to issue a proposal meant to simplify how companies would be required to classify debt in the balance sheet. Tammy Whitehousehas more.
The Trustees of the IFRS Foundation, responsible for the governance and oversight of the International Accounting Standards Board, have appointed Sue Lloyd as the new IASB vice chair, effective Nov. 1. Jaclyn Jaegerhas more.
What’s next on the list of FCPA violations, a cup of coffee bought for a custom official while you await inspection? Tom Foxponders that question after reading about Lennox International’s $475 facilitation payment Justice Department disclosure.
Brazilian aircraft-company Embraer today reached a $205 million combined settlement with the Department of Justice, the Securities and Exchange Commission, and Brazilian authorities to resolve allegations of criminal and civil violations of the Foreign Corrupt Practices Act. Jaclyn Jaegerhas more.
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