Audit & Accounting

The U.S. Defense Department failed for the seventh straight year to score a clean financial audit, highlighting the challenge of tracking the finances of a sprawling organization that has some $3.8 trillion in assets and $4 trillion in liabilities.

Bush & Associates, Barton, Crowe Hussain Chaudhury, KPMG India and RSM Brazil settled sanctions for violating PCAOB reporting requirements.

The Financial Accounting Standards Board issued a proposed accounting standards update to establish authoritative guidance on the accounting for government grants received by business entities.

PricewaterhouseCoopers made a $1.5 million investment to Bryant University to fund the launch of the PwC AI in Accounting Fellowship.

The guide can help companies identify and disclose material information about sustainability-related risks and opportunities that could affect their cash flow.

The move follows an accounting scandal that has wiped out billions of dollars in market value and drawn investigations by the DOJ and SEC.

In a bid to stay listed, the company appointed BDO USA as its independent auditor after EY resigned.

The Experience, Learn & Earn program now allows accounting graduates who are unaffiliated with a participating firm or employer to sign up, as long as they are employed full time.

Audit committees are bringing on more directors with experience in cybersecurity and sustainability, according to a new survey.

Facing a backlash about its proposal to toughen standards for failing to detect noncompliance with laws and regulations, the board is putting off action on the standard.