Audit & Accounting

With the G-20 finance ministers having given accounting standard setters a new deadline of mid-2013 to get their convergence work done, the Securities and Exchange Commission is under fresh pressure to reach a decision on incorporating International Financial Reporting Standards into the U.S. financial reporting system.

The Committee of Sponsoring Organizations of the Treadway Commission, also known as COSO, plans to release the updated version of its Internal Control–Integrated Framework in the first quarter of 2013, instead of the fall of 2012.

The finance and accounting outsourcing market is expected to rebound this year, with 10 to 15 percent growth, following a slowdown last year.

A roundup of news from the world of auditing, attest and assurance.

Auditor rotation may not be the answer, but at least it's got people asking the question.

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.