Audit & Accounting

The International Federation of Accountants has released a policy position paper to address how the accounting profession should be acting in the public interest, with a proposed definitional framework outlining those responsibilities.

The Securities and Exchange Commission voted unanimously to propose a whistleblower program to reward individuals who provide the agency with high-quality tips that lead to successful enforcement actions for financial fraud.

Obama administration officials awarded $1 billion in therapeutic discovery project tax credits and grants to nearly 3,000 companies around the country to support promising biomedical research projects.

The Financial Accounting Standards Board has issued an exposure draft outlining changes in the accounting standards for repurchase agreements such as the Repo 105 transactions that have been blamed for contributing to the collapse of Lehman Brothers.

The Securities and Exchange Commission has published its first progress report on the work plan related to the move to global accounting standards.

Walter Edward Hanson, the former chairman of Peat Marwick International, a predecessor firm of KPMG, passed away at his home in Newport Beach, Calif., at the age of 84.

Cash flow and not the economy is the top concern for chief financial officers heading into 2011, according to a survey from TD Bank.

The International Accounting Standards Board is making more of an effort to complete its major convergence projects by the middle of next year.

The International Accounting Standards Board has amended its financial instruments standards to prevent companies with financial problems from trying to claim a profit based on an inflated value of the debts they owe.

Corporate executives are getting ready to move to International Financial Reporting Standards, but say they probably won’t do it until the Securities and Exchange Commission mandates it, even if an early adoption option is allowed, according to a new survey.