The vast majority of companies are not prepared for the major changes in accounting and business operations required by the new revenue recognition standard, according to a new survey.

The American Institute of CPAs’ Auditing Standards Board has issued a new auditing standard on internal control and an interpretation related to the sustainability financial statements used by the government for long-term projections of social insurance programs.

South Korea will draw up measures to increase transparency to the accounting methods used by construction and shipbuilding companies to prevent them from running up huge losses when projects are delayed.

The Sustainability Accounting Standards Board has introduced a new credential for accountants and other professionals who deal with sustainability issues.

The Financial Accounting Standards Board and the International Accounting Standards Board have delayed the effective date of their converged revenue recognition standard for a year, but companies are going to need the extra time to get their systems adjusted.

Valeant Pharmaceuticals International Inc. shares slumped as Chief Executive Officer J. Michael Pearson’s defense of the drugmaker’s accounting and ethics failed to resonate with investors fretting about its relationship with a mail-order pharmacy.

The CAQ highlights nine areas auditors will want to pay particular attention to in the next audit cycle