Two members of the House Financial Services Committee have introduced a bill that would establish a new Federal Accounting Oversight Board and probably loosen mark-to-market accounting standards.

One third of public companies did not satisfy the minimum requirements of disclosure of their tax reserves last year as required by new rules put in place by the Financial Accounting Standards Board.

The Public Company Accounting Oversight Board has re-proposed for comment a standard for auditing firms to use for reviewing their audit reports internally by a second or concurring partner before they are issued.

Securities and Exchange Commission Chairman Mary Schapiro has been under pressure not to appoint a leading critic of International Financial Reporting Standards as a permanent chief accountant, according to a former official who filled that post.

Are you able to get what you need from reviewing financial statements? Do you think there are ways to enhance the usefulness of the presentation of the information?

The International Auditing and Assurance Standards Board has completed a project aimed at updating and clearing up ambiguities in auditing standards.

The American Institute of CPAs has appointed four new members of the Auditing Standards Board.