Audit & Accounting

IMGCAP(1)]The recent financial crisis reminded us that financial reporting still needs improvement.

International administration of the Uniform CPA Examination will be offered during the month of August in Japan, Bahrain, Kuwait, Lebanon, and the United Arab Emirates, the American Institute of CPAs, the National Association of State Boards of Accountancy and Prometric announced on Tuesday.

The Securities and Exchange Commission has adopted the 2011 U.S. GAAP Financial Reporting Taxonomy.

Finding the best method of measuring assets and liabilities has been both elusive and controversial.

All accountants, and certainly all CPAs, should be keenly interested in and concerned about the activities of the American Institute of CPAs. As the leading professional society for CPAs, it shapes both policy and perceptions for the entire profession, members and non-members alike.

The Public Company Accounting Oversight Board intends to hold seven forums across the country to discuss auditing issues in the small business environment.

The International Federation of Accountants has released a revised edition of its Good Practice Guide, “Establishing and Developing a Professional Accountancy Body,” with new material on governance, the public sector, case studies, and practical illustrations.

The trustees of the IFRS Foundation have appointed Takatsugu Ochi to a five-year term on the International Accounting Standards Board, reflecting an effort to include representation from outside Europe and North America.

A working group has started providing guidance on new international accounting standards for small and midsized companies.

A California technology company has filed suit for the second time against the Financial Accounting Standards Board, alleging antitrust violations and willfully attempting to misappropriate patented technology after it submitted a comment to FASB recommending its technology.