Audit & Accounting

Group discount site Groupon has appointed two directors to its board to add more financial expertise after the company admitted to a financial restatement.

Florida-based Top 100 Firm Berkowitz Pollack Dick & Brant has rebranded itself Berkowitz Pollack Brant Advisors and Consultants.

Hans Hoogervorst, chairman of the International Accounting Standards Board, said Wednesday that he believes Extensible Business Reporting Language, or XBRL, has “the potential to improve the effectiveness of financial reporting.”

Lawson Carmichael has joined the American Institute of CPAs as senior vice president for strategy, people and innovation.

Over 37 percent of auditors expect to find fraud at their own clients this year, according to a new survey.

Robert Herz, the former chairman of the Financial Accounting Standards Board, and Sir David Tweedie, the former chairman of the International Accounting Standards Board, said Tuesday that the Securities and Exchange Commission needs to make a decision soon on committing to International Financial Reporting Standards, or other major countries could drop their support for IFRS.

The newest member of the Public Company Accounting Oversight Board, Jeanette Franzel, is only the second female board member in the PCAOB’s nearly 10-year history.

Groupon Inc, the online coupon company that floated just months ago in the strongest IPO in years, has had recurring accounting problems that critics say show a need for more financial sophistication on its board.

New Rules Strengthen Risk Management for Financial Markets

The Public Company Accounting Oversight Board has signed a deal with German authorities that will allow officials to conduct joint inspections of auditing firms in both the U.S. and Germany.