The dizzying rise and rapid fall in the shares of drugmaker Valeant Pharmaceuticals International Inc. is eerily familiar to Canadian investors still smarting from the last time a small market was dominated by single stocks—BlackBerry Ltd. and Nortel Networks Corp.

The Public Company Accounting Oversight Board issued a report Thursday warning about significant deficiencies it is seeing in auditing firms’ assessment of risks in their clients.

The Governmental Accounting Standards Board has proposed new guidance to help state and local governments that participate in certain multiple-employer pension plans meet the reporting requirements of GASB’s pension standards.

An overwhelming majority of corporate board directors oppose the Securities and Exchange Commission’s proposal to require mandatory disclosure of communications between audit committees and auditors, according to a new survey.

The number of accountants who belong to professional accounting organizations that are members of the International Federation of Accountants grew 16 percent from 2.4 million to 2.8 million between 2009 and 2013.

The Financial Accounting Standards Board’s 2007 standard on accounting for uncertainty in income taxes, FASB Interpretation No. 48, or FIN 48, has helped discourage companies from using tax reserves to manage their quarterly earnings reports, according to a new study.

Thomson Reuters has added content to its Checkpoint Catalyst research system on the Financial Accounting Standards Board’s financial reporting requirements.