Audit & Accounting

Today’s CFOs face a perfect storm of pressures.

Whenever I meet a new accountant, I always ask them, “Does your firm have a department specializing in Space Accounting?” It is surprising to me when they respond with expressions of confusion and bewilderment.

Financial executives are anticipating trouble adjusting to the lease accounting standard that the Financial Accounting Standards Board released in February, as FASB also rolls out its new credit loss standard Thursday.

The Financial Accounting Standards Board issued Thursday its long awaited accounting standards update for credit losses, part of the convergence project on financial instruments that it has been working on with the International Accounting Standards Board for eight years.

Judge Jed Rakoff told attendees at the Association of Certified Fraud Examiners' Annual Global Fraud Conference in Las Vegas that prosecutors are falling short on prosecuting fraud.

Every day, the public places their trust in two seemingly unrelated entities: public auditors and the police.

The majority of companies admit they are behind on implementing the new revenue recognition standard from the Financial Accounting Standards Board, according to a new survey, despite a delay of the effective date by one year.

The Committee of Sponsoring Organizations of the Treadway Commission, also known as COSO, has unveiled a proposed update to its 2004 enterprise risk management framework.

South Korea is considering a bill that would allow regulators to oust the CEO of an accounting firm that is found to be negligent in controlling audit quality.

This week I digress from my autobiographical stories. I understand that Ben Affleck will be playing an accountant in a movie he is now filming, but until then here are my top 10 movie roles of accountants.