Audit & Accounting

The Institute of Internal Auditors has enhanced its International Professional Practices Framework, which has provided internal auditors worldwide professional guidance in various forms since 1947, in response to more recent risks, while also releasing a report on the current pulse of the internal audit profession.

The Securities and Exchange Commission has reappointed Public Company Accounting Oversight Board member Lewis H. Ferguson to a second term on the board.

Singer-songwriter Robyn Rihanna Fenty may be sending a chilling message to her former accountant in her new music video B*tch Better Have My Money. Rih-Rih kidnaped, tortured, and had a marijuana love fest with a high net-worth woman, who turns out to be the wife of Rihanna’s former accountant, aka “The B*tch.” …

The American Accounting Association has retracted 25 articles written or co-authored by a former accounting professor who was forced to resign after his university uncovered a “pattern of misconduct.”

The Federal Bureau of Investigation raided the offices of a Connecticut accounting firm Tuesday and seized documents in connection with a fraud complaint.

The Sustainability Accounting Standards Board has issued provisional standards for seven industries in the consumption area, including agricultural products; meat, poultry and dairy; processed foods; non-alcoholic beverages; alcoholic beverages; tobacco; and household and personal products.

The Securities and Exchange Commission has voted Wednesday to publish a concept release asking for public comments about the current audit committee disclosure requirements, focusing particularly on toughening the committee’s oversight of independent auditors.

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The Governmental Accounting Standards Board has issued two exposure drafts for state and local governments proposing accounting and financial reporting guidance related to external investment pools and how certain component units should be presented in a governmental reporting entity’s financial statements.

The Securities and Exchange Commission has charged Deloitte & Touche LLP with violating auditor independence rules when its consulting affiliate maintained a business relationship with a trustee serving on the boards and audit committees of three funds it audited.