Audit & Accounting

An international group of accountants, regulators, bankers and business luminaries met to discuss the impact of the financial crisis and the implications for financial reporting.

The International Accounting Standards Board wants the U.S. to remain committed to its roadmap for transitioning to International Financial Reporting Standards and is making the case directly to the new SEC chairman.

The Financial Accounting Foundation has chosen John J. Brennan, chairman of mutual fund giant Vanguard Group, as its new chairman and a member of its board of trustees.

If the patch for the alternative minimum tax is going to be one of the hurdles holding up reconciliation of the House and Senate versions of the stimulus bill, let’s get rid of it.

The American Institute of CPAs has opened a free online job finder to help accountants find work during the recession.

The House Financial Services Committee grilled a group of bankers who received money from the financial bailout over how they had been using the money.

Senate Majority Leader Harry Reid, D-Nev., said that negotiators from the House and Senate have reached an agreement on the stimulus package.

The Securities and Exchange Commission has begun requiring 500 of the largest companies to start filing their financial statements in an interactive data format.

“Look at the guy on your left,” they told pilot recruits during World War II on their first day of training. “Look at the guy on your right. One of you won’t be here in three months.”

Treasury Secretary Timothy Geithner spelled out plans for how the government will spend trillions of dollars to deal with unfreezing credit and taking troubled assets off the books of financial institutions.