KPMG has been hit with a $50-million civil money penalty by the SEC. The levy stems from issues that go beyond well-publicized leaking of confidential information from the Public Company Accounting Oversight Board to former KPMG auditors to cheating on training exams and deleting documents.

H&R Block will acquire Wave Financial for $405 million in cash, the tax services tcompany said this week.  Wave, based in Toronto, Ont., markets cloud-based small business software and has targeted the growing market of free-lance employees.

The American Institute of CPAs will soon be in charge of the .cpa Internet domain. The AICPA is in the contract execution phase with the Internet Corporation for Assigned Names and Numbers to administer .cpa.