Audit & Accounting

The Securities and Exchange Commission voted Friday to simplify some of its disclosure requirements that have become outdated, duplicative or overlapping because of changes in the information environment or U.S. GAAP, or because of other SEC disclosure requirements.

President Donald Trump brought a long-simmering debate on Wall Street to the surface Friday when he prodded regulators to look into scaling back how often publicly traded companies report financial results.

The developer of cloud-based auditing software has finished a second round led by Battery Ventures.

The cost of formatting financial statements in Extensible Business Reporting Language, or XBRL, for small reporting companies has plunged 45 percent since 2014, according to a new study by the American Institute of CPAs and XBRL US, making the requirement for using the data-tagged format more affordable.

Exxon Mobil Corp. must face a lawsuit by investors who blamed a drop in the company’s shares on the disclosure that regulators were scrutinizing its reserve accounting related to climate change.

The Financial Accounting Standards Board released a long-awaited accounting standards update Wednesday to improve the financial reporting for insurance companies that issue long-duration contracts, such as life insurance, disability income, long-term care and annuities.

Ernst & Young is acquiring Riverview Law, a London-based provider of legal services, expanding the Big Four accounting firm’s global presence in the legal profession.