Audit & Accounting

(Bloomberg) Peregrine Financial Group Inc. founder Russell Wasendorf Sr. pleaded not guilty to 31 counts of lying to U.S. regulators about the value of customer funds held by his now-bankrupt commodities firm.

Marc Silverman joins Morristown office

New consulting program will help CPA firms see if wealth management is right for them.

Accounting Today has announced the agenda of its third annual Growth & Profitability Summit, which will be held Oct. 28-30, 2012, in Boca Raton, Fla.

Recent promotions, new hires and more

The Financial Reporting Executive Committee of the American Institute of CPAs has issued a working draft of the accounting content of a proposed Audit and Accounting Guide on not-for-profits.

Michael Biondo, a tax manager at the Buffalo, N.Y.,-based firm of Freed Maxick CPAs PC -- also know as as Duke Maynard von dem Steine in the kingdom of AEthelmearc -- was recently selected as Accounting Today’s newest Accountant of the Month.

The Financial Accounting Standards Board has released a proposed Accounting Standards Update that is intended to improve the presentation for reclassifications out of accumulated other comprehensive income in a manner that balances the benefits to users of financial statements, without imposing significant costs to preparers of financial statements.

The Public Company Accounting Oversight Board on Wednesday adopted Auditing Standard No. 16, Communications with Audit Committees, which establishes requirements that enhance the relevance and timeliness of communications between the auditor and audit committee, in addition to amendments to other PCAOB standards.

A new whitepaper from Big Four firm PwC US says that internal audit departments should play a critical role in reducing their organization’s risk of data breaches and threats.