The International Accounting Education Standards Board has proposed a set of clarified standards and revisions governing the practical experience requirements for aspiring professional accountants.

Hans Hoogervorst, who took over as chairman of the International Accounting Standards Board this month, said he anticipates the U.S. will ultimately adopt International Financial Reporting Standards.

The American Institute of CPAs has issued new attest guidance that enables CPAs to report on the controls at a service organization, particularly ones that provide outsourced services to other companies via technologies like cloud computing.

The Private Company Financial Reporting Committee received an update on the Financial Accounting Standards Board’s efforts to bring U.S. GAAP into line with International Financial Reporting Standards, especially in how that effort would relate to private companies.

The Governmental Accounting Standards Board is expected to issue new proposals this week that would require state and local governments to be more open about their pension-funding obligations.

The Financial Accounting Standards Board and the International Accounting Standards Board issued amendments Thursday to improve and align the presentation of items of other comprehensive income in financial statements prepared in accordance with International Financial Reporting Standards and U.S. GAAP.

The Financial Accounting Standards Board and the International Accounting Standards Board agreed Wednesday to re-expose their revised proposals for a common revenue recognition standard, allowing people to offer further suggestions for changes.