Audit & Accounting

The Financial Accounting Standards Board is expected to release a scaled-back set of changes in accounting standards for nonprofit organizations this summer, with more far-reaching changes planned for the future, probably depending on whether they can also apply to for-profit businesses.

Anne-Lise Vivier of Thomson Reuters discusses some of the changes in FASB's new lease accounting standards in this video.

The Financial Accounting Standards Board’s Emerging Issues Task Force has issued an exposure draft proposing changes in how restricted cash should be treated on the statement of cash flows.

Mandatory rotation of auditing firms could lead to more “opinion shopping” by companies looking for clean opinions on their internal controls, a new study suggests.

Abbott Laboratories may be worried it has another Valeant on its hands in its proposed merger with Alere -- and investors should be on the lookout for future look-a-likes.

The Securities and Exchange Commission has agreed to settle charges with a Maryland firm and one of its partners that their surprise examinations of an investment advisor were inadequate.

Disruptive technologies are adding urgency across all industries, accounting included, with clients and staff alike held to greater expectations regarding the quality and timeliness of services and products.

An update on the board’s proposed ASU for NFPs

The Financial Accounting Standards Board has voted to proceed with issuing a long-awaited standard in June on credit losses on loans and other financial instruments, a key component of its financial instruments convergence project with the International Accounting Standards Board, and to defer the effective date for one year.

The Vatican’s Holy See has suspended its contract with PricewaterhouseCoopers but stressed that the suspension is not due to problems with PwC’s work.