Audit & Accounting

BDO International said Friday the worldwide revenue of its network of accounting firms increased 7.36 percent for the year ended Sept. 30, 2011, to $5.672 billion, mainly due to growth in Asia, the Middle East and Africa.

SEC WARNED AGAINST CONDORSEMENT APPROACH

IMGCAP(1)]It's difficult to regulate good management practices, yet those in power - Congress, the Securities and Exchange Commission, and various self-governing standards bodies - are bound to continue to attempt to make good management practices the rule, rather than the exception.

'Wow" would be sort of an understated onomatopoeia to describe the past year in terms of events, changes and headlines within the accounting profession. As this is my 11th end-of-the-year column, I'll again foolishly predict that 2012 could not possibly top the previous year, despite a decade of being proved wrong. Perhaps this is why I rarely gamble while attending various events in Las Vegas.

Your November coverage of the Chartered Global Management Accountant accreditation, in addition to your, "AICPA, CIMA Plan Push for New Management Credential," (AccoutingToday.com, October 18) sheds light on the critical role management accountants play in today's competitive global marketplace. What this article fails to share is that there are, in fact, gaps with regard to the testing, assessment and measurement of critical skills during the first three years of this venture.

IMGCAP(1)]The Financial Accounting Standards Board recently approved a revised accounting standard that requires contributing nongovernmental employers to provide more information about their financial obligations to multiemployer pension plans.

ACL Services Ltd., a provider of business assurance technology for audit and compliance professionals, on Wednesday introduced ACL Acerno, an add-in for Microsoft Excel specially designed for auditors working with data analyzed in ACL Desktop or AuditExchange.

The European Commission has proposed a draft law that could split up the largest auditing firms and force them to use a separate entity and name for their advisory and non-audit practices.

The Financial Accounting Standards Board has added a new project to its agenda aimed at reducing or eliminating the need for private companies and not-for-profit organizations to provide as many fair value measurement disclosures as public companies.

PwC Reports Fraud, Cyber Crime on the Rise