Audit & Accounting

The Financial Accounting Standards Board released an accounting standards update aimed at improving the usefulness of information offered to investors about certain loan refinancings, troubled debt restructurings, vintage disclosures and gross write-offs, amending its credit losses standard.

Employees across the world defrauded their employers of more than $4.7 trillion each year from 2020 to 2022, according to a new report.

Cindy Adams, who has served as ISCPA CEO since 2012 and as a member for 40 years, will step down this October.

The board unveiled two proposed standards for general sustainability-related and specific climate-related disclosure requirements.

Gary Gensler signaled that only total compliance with U.S. audit inspections will allow the companies to keep trading on American markets.

Backlogs at the IRS and bearing bad news can be challenging, but it’s no more than preparers expected.

The service has been auditing the poorest wage earners more than higher-earning taxpayers, according to an updated report.

The board approved charters for the membership and activities to revive its old Investor Advisory Group and set up a new Standards and Emerging Issues Advisory Group.

Blank-check companies would be required to disclose more information about their sponsors and potential conflicts of interest under a new plan from the U.S. Securities and Exchange Commission, the latest effort by regulators to rein in the once red-hot market.

Private sector employers added 455,000 jobs this month, payroll giant ADP reported Wednesday, as the economy continued to bounce back despite the ongoing pandemic, although continuing labor shortages held back stronger growth.