Audit & Accounting

The American Institute of CPAs’ Auditing Standards Board voted to issue a final version of its Statement on Auditing Standards, Omnibus Statement on Auditing Standards—2019, to align its guidance more closely with that of the Public Company Accounting Oversight Board.

The Governmental Accounting Standards Board has posted a proposed implementation guide with a set of questions and answers about GASB’s new standards on accounting and financial reporting for fiduciary activities.

The Institute of Management Accountants is making changes to its Certified Management Accountant exam.

The Securities and Exchange Commission has imposed a civil penalty on the car rental giant for misstating pretax income.

With things changing so fast in the accounting world, many CPAs feel it’s difficult just trying to keep up.

The Internal Revenue Service has issued final regulations implementing the centralized partnership regime, allowing the IRS to audit large partnerships, such as hedge funds and private equity firms, more easily.

The total amount of goodwill impairment recorded by U.S. public companies climbed 23 percent last year, reaching $35.1 billion.

Section 404(b) of the Sarbanes-Oxley Act of 2002, which requires public companies to undergo annual audits of the adequacy of their internal controls over financial reporting, appears to be supported by investors who want newly acquired companies to be audited as well, according to a new study.

More and more, employees expect to be able to work where and when they like.

As firms move more toward advisory services, It's importnat to recognize the structural differences between the two.