The International Federation of Accountants has published a paper calling for enhanced financial management transparency and accountability in the public sector, especially in the midst of the sovereign debt crisis.

The Financial Accounting Foundation has published a learning guide for the FASB Accounting Standards Codification system to help accountants learn their way around the relatively recent system for organizing U.S. GAAP standards.

The International Auditing and Assurance Standards Board has released a revised standard for compilation engagements, specially enhanced for the needs of small and midsized entities.

The Governmental Accounting Standards Board has proposed new financial reporting standards for state and local governments to help them account for government combinations such as mergers, acquisitions and transfers of operations, along with disposals such as sales and transfers of government operations.

Grant Thornton has released a new paper calling for an overhaul in the current thinking of the Financial Accounting Standards Board and the International Accounting Standards Board on lease accounting standards, instead advocating the use of two different lease accounting models.

International Accounting Standards Board chairman Hans Hoogervorst told attendees at a financial conference in Mexico City that the board plans to give accountants a period of relative stability to give them time to adjust to all the new standards.

The International Ethics Standards Board for Accountants has released for public exposure proposed changes to the definition of “engagement team” in the IESBA Code of Ethics for Professional Accountants.