Audit & Accounting

Despite enhancements already made to audit quality, the audit profession will never rest on its laurels.

Over half of public companies have overhauled their financial processes in the past year, according to a Deloitte survey.

The exposure draft covers various accounting and financial reporting issues that were identified during implementation, application, and due process on GASB standards.

The Financial Accounting Standards Board released an accounting standards update Monday to help lessors account for leases with variable lease payments.

The increased funding for the IRS as a way to boost tax revenue was dropped after it emerged that Democrats intend to include the measure in their bigger budget bill.

The Institute of Management Accountants officially appointed J. Stephen McNally as chair of the IMA’s global board of directors, and he plans to focus on the organization’s growing presence internationally.

Auditors don’t put much emphasis on work-life balance, but the quality of their audits tends to suffer if that balance is absent, according to a recent study.

The Securities and Exchange Commission is ramping up enforcement against cryptocurrency providers, as the Internal Revenue Service has also stepped up investigations and compliance efforts.

It's crucial not to overlook relational accounting.

The Internal Revenue Service ended a strategy for examining high-income taxpayers in 2017 and switched to another strategy that brought in far less tax revenue in the next few years.