Audit & Accounting

The Financial Accounting Foundation said Wednesday that, as part of its oversight of the Governmental Accounting Standards Board, it has commissioned an independent academic study of the purposes of financial accounting and reporting of state and local governments.

ParenteBeard LLC has launched a sustainability practice to work with clients on establishing sustainability initiatives at their organizations.

Not all of the state legislation drawing attention from accountants this year involves taxes (see States Enact Flurry of Tax Changes). Indeed, some of the most closely watched bills hit even closer to home for the profession.

The Association of Chartered Certified Accountants is firing back as government regulators worldwide are proposing changes in the way the audit profession works.

The International Auditing and Assurance Standards Board has released a new consultation paper seeking views on how to enhance the quality, relevance and value of auditor reporting on an international basis.

Capital Confirmation Inc. has added a self-registration feature for companies and financial institutions to respond to audit confirmation requests through its Web site, Confirmation.com.

The Financial Accounting Standards Board and the International Accounting Standards Board have published new requirements for fair value measurement and disclosure.

The American Institute of CPAs has promoted assistant general counsel Michael J. Buddendeck to the job of general counsel and secretary.

The Financial Accounting Standards Board appears to be once again on the slow path to convergence with International Financial Reporting Standards, but it will probably get there in the end.

The Securities and Exchange Commission provided information Tuesday on filing financial statements in Extensible Business Reporting Language for public companies that will soon be required to file in the XBRL format.