Audit & Accounting

The Financial Accounting Foundation, the parent organization of the Financial Accounting Standards Board, has appointed banking executive Mary P. Crotty to the newly created position of chief operating officer.

British Petroleum has filed a legal motion against the administrator of the claims settlement program set up to deal with victims of the 2010 oil spill in the Gulf of Mexico from its Deepwater Horizon oil-drilling rig to force him to release the results of an audit by McGladrey LLP that is costing BP more than $14 million.

Tesco Plc Chairman Richard Broadbent will leave after the U.K.’s biggest supermarket company said accounting irregularities started earlier than this year and will continue to impact profit in the second half.

The Public Company Accounting Oversight Board has released expanded versions of two of its inspections reports of KPMG LLP after the firm failed to address quality control issues to the board’s satisfaction.

As previously reported, the majority of 99 accounting firms surveyed by ConvergenceCoaching have implemented work-from-home programs for their staff. Convergence has now released further insights, both positive and negative feedback, from those firms,

KPMG recently announced that its Short Hills, NJ office has attained Leadership in Energy and Environmental Design (LEED) certification from the U.S. Green Building Counsel, the 25th KPMG workplace to do so under its "Living Green" program.

The Committee of Sponsoring Organizations of the Treadway Commission, also known as COSO, is planning a project to review and update its decade-old Enterprise Risk Management–Integrated Framework.

The American Institute of CPAs has introduced two new tools to help CPA firms and organizations expand and enhance their diversity and inclusion efforts.

Let’s not kid ourselves. Financial statement auditing as we know it is facing a crisis of relevance in today’s capital markets.

The American Institute of CPAs is getting ready to roll out its long-awaited update of compilation and review standards for CPAs, Statement on Standards for Accounting and Review Services No. 21 (SSARS No. 21), one of the most significant revisions in non-audit standards in the last 35 years.