Audit & Accounting

Close to 2,500 letters have been written to the Financial Accounting Foundation supporting the creation of a separate standards board for private company accounting, according to the American Institute of CPAs.

CFOs are predicting an increase in hiring in the fourth quarter of this year, according to a survey by staffing company Robert Half International.

The Financial Accounting Standards Board has added a new project to its crowded agenda: the impairment of intangible assets with indefinite lives.

The CFA Institute told the Securities and Exchange Commission that its long anticipated decision on whether or not to incorporate International Financial Reporting Standards into the U.S. financial reporting system should wait until the SEC completes its work plan for incorporating IFRS.

The outlook on the U.S. economy declined further among CFOs, controllers and CPAs in executive and senior management accounting roles in the third quarter, according to a survey by the American Institute of CPAs.

Specialty tax software provider Red Moon Solutions has introduced a new Software-as-a-Service tool that manages the audit process, data, and documents in addition to tax risk and improving internal controls.

The Financial Accounting Standards Board and the International Accounting Standards Board have updated the computer-readable tags for their accounting standards and exposed them for public comment.

PCAOB PROPOSES MANDATORY AUDITOR ROTATION

ALTERNATIVE NO MORE

PricewaterhouseCoopers and Crowe Horwath have been sued over their audits of Colonial Bancgroup by the bankrupt bank’s trustee.