Audit & Accounting

The Securities and Exchange Commission has released a study recommending that the existing auditor attestation requirement in Sarbanes-Oxley be kept in place for companies with a public float of between $75 million and $250 million.

The International Public Sector Accounting Standards Board has published its 2011 Handbook of International Public Sector Accounting Pronouncements.

The Financial Accounting Standards Board has issued an exposure draft of a proposed Accounting Standards Update that aims to simplify how an entity is supposed to test goodwill for impairment.

The Financial Accounting Standards Board and the International Accounting Standards Board provided a progress report Thursday on the latest timeline for their major convergence projects.

United States District Court Judge J. Michael Seabright sentenced Kauai tax preparer Dennis Nimkie, age 66, to 18 months imprisonment for falsifying information on an income tax return he prepared for another person. Nimkie pled guilty to one of 26 charges but agreed that the conduct on the remaining charges could be considered in determining his sentence and the amount of restitution owed the government.

The American Institute of CPAs has included the latest guidance from the Financial Accounting Standards Board on accounting for mergers and acquisitions in the newest edition of its book Accounting Trends & Techniques.

The International Accounting Education Standards Board proposed changes in its ethics standards to provide for learning and development activities in professional values and ethics for accountants throughout their careers.

Leaders of the Financial Accounting Standards Board and the International Accounting Standards Board said Thursday they have pushed back their work on the handful of “priority” projects they had committed to complete this year.

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