India’s Ministry of Corporate Affairs has released a revised roadmap for implementation of Indian Accounting Standards as part of its effort to converge with International Financial Reporting Standards.

The Financial Accounting Standards Board has issued an exposure draft of two proposed accounting standards updates that would affect the accounting for income taxes for businesses.

The Financial Accounting Foundation has released its annually updated print edition of the Financial Accounting Standards Board’s FASB Accounting Standards Codification, providing the authoritative source of U.S. GAAP for public and private companies and not-for-profit organizations.

The International Auditing and Assurance Standards Board has issued proposals aimed at improving auditor reporting on special purpose financial statements.

Key challenges facing small- and medium-sized practices in the accounting industry worldwide have been identified as attracting new clients and complying with regulations and standards, according to a new survey by the International Federation of Accountants.

The Financial Accounting Standards Board is still in the process of deciding whether the revenue recognition standard that it converged last year with the International Accounting Standards Board should be delayed to allow more companies to adjust to it before the new rules take effect in 2017. But that doesn’t mean companies should wait in case there’s a postponement.

The International Auditing and Assurance Standards Board has released newly revised standards for overhauling auditor reports, with the goal of enhancing the auditor’s report for investors and other financial statement users.