Audit & Accounting

Small businesses and nonprofit organizations often overlook the warning signs of employee fraud, especially by senior managers, according to accounting firm Marks Paneth & Shron.

The Texas Society of CPAs has weighed in on the Financial Accounting Foundation’s controversial proposal to set up a Private Company Standards Improvement Council and sent a letter expressing its “respectful disagreement.”

The Securities and Exchange Commission has released two eagerly anticipated staff papers comparing International Financial Reporting Standards with U.S. GAAP and analyzing IFRS in practice at foreign companies.

The Financial Accounting Foundation has sent a comment letter to the Securities and Exchange Commission supporting the so-called “condorsement” approach to incorporating International Financial Reporting Standards into the U.S. financial reporting system, but with some important changes.

Investors and financial executives are increasingly feeling overloaded by the volume and complexity of financial disclosure information in annual reports and other financial filings, according to a new study.

Financial Executives International has teamed up with the Center for Audit Quality, the Institute of Internal Auditors and the National Association of Corporate Directors on a new anti-fraud quiz.

The Financial Accounting Standards Board and the International Accounting Standards Board published revised proposals Monday for revenue recognition as part of their continuing efforts at convergence.

The Securities and Exchange Commission has approved new rules that will make it more difficult for foreign companies to go public on the three major U.S. exchanges through a reverse merger with a U.S. shell company.

The International Federation of Accountants’ Small and Medium Practices Committee has released the third edition of its Guide to Using International Standards on Auditing in the Audits of Small- and Medium-Sized Entities.

Mike Karlins, a partner at the Woodlands, Texas-based CPA firm Karlins & Ramey LLC, was recently accepted into membership of Construction Industry CPAs/Consultants Association by executive director John Corcoran in Chicago during CICPAC’s recent annual conference.