Audit & Accounting

Accounting Today has introduced a new app for the Apple iPad and iPhone that lets readers access the magazine’s features and content from the palm of their hand.

The Securities and Exchange Commission unanimously proposed amendments Wednesday to the broker-dealer financial reporting rule to strengthen audits of broker-dealers as well as the SEC’s oversight of the way broker-dealers handle their customers’ securities and cash.

The Financial Accounting Standards Board and the International Accounting Standards Board agreed Wednesday to re-expose their revised proposals for a common revenue recognition standard, allowing people to offer further suggestions for changes.

The three-decade-long debate of having differential standards for private companies, the tougher regulatory climate on Capitol Hill, the meteoric rise in cloud and mobile computing and the changing demographics were cited among the top issues impacting the profession.

The Public Company Accounting Oversight Board voted Tuesday to adopt rules to implement provisions of last year’s financial reform bill to begin inspecting auditors of securities brokers and dealers.

CCH and Baker Tilly International have begun a strategic partnership that will enable accounting firms in the Baker Tilly International network to receive CCH news, insights and other information services.

With nearly 70 percent of audit fraud occurring at non-public companies, and multi-billion-dollar international scandals such as Parmalat and Satyam resulting in massive investor losses and lawsuits, a panel of experts at an accounting conference advised attendees on the red flags that CPA firms need to monitor, and new technologies that can help reduce audit risks and strengthen the confirmation process.

Last week, Accounting Today hosted an international visitor from the Association of Chartered Certified Accountants and the discussion eventually turned to the regulatory subject de jour - auditor rotation.

Sage North America unveiled a new Sage Accountants Network program Thursday aimed at helping practitioners that serve nonprofit and governmental organizations.

The Public Company Accounting Oversight Board has scheduled a meeting for Tuesday to consider adopting certain rules to implement expanded oversight and inspection for registered accounting firms’ audits of brokers and dealers.