XBRL US plans to soon publish an upgraded version of the Extensible Business Reporting Language interactive data tags for U.S. generally accepted accounting principles and is making the latest draft available for public review.

The American Bankers Association has written to Treasury Secretary Henry Paulson calling on regulators to make several immediate reforms to mark-to-market and fair value accounting rules before banks have to file their year-end financial statements.

Companies in the U.S. and Europe generally favor the move to International Financial Reporting Standards, but European companies are much more skeptical about the process.

The Public Company Accounting Oversight Board has approved a $157.6 million budget for calendar year 2009, a $13 million increase from the $144.6 million it approved for 2008.

Companies that are the subjects of Securities and Exchange Commission enforcement actions for financial fraud are more than twice as likely to go bankrupt as those that are not, according a study by Deloitte Forensic Center.

For those who couldn’t find the proposed roadmap released by the SEC when they went to the Commission’s site last week, don’t blame yourself. You need an actual roadmap to find it.

In the last of a series of roundtable discussions of mark-to-market accounting before issuing a congressionally mandated study, a panel of accounting experts told the Securities and Exchange Commission about the challenges of valuing assets in a rapidly sinking market.