Audit & Accounting

The Institute of Internal Auditors has formed the IPPF Oversight Council, a multi-organizational group that will monitor the process for developing guidance within the International Professional Practices Framework.

Several years ago when an architect we hired for anaddition to our house unfolded his blueprints on the dining room table, theundisputed general contractor on the job (my wife) assumed the sort of facialexpression one makes when their pleasant-looking blind date doesn't resembleScarlett Johansson or Cristiano Ronaldo.

The Committee of Sponsoring Organizations of the Treadway Commission has initiated a project to review and update the COSO Internal Control - Integrated Framework.

The Financial Accounting Foundation said it would conduct post-implementation reviews of financial accounting and reporting standards issued by the two boards it oversees, the Financial Accounting Standards Board and the Governmental Accounting Standards Board.

A bipartisan task force has issued a plan to cut the size of the national debt and the federal budget deficit through taxes and other means.

Please do not adjust your set. This is still WebCPA, but now it’s been rechristened Accounting Today for the WebCPA.

The rules have changed for firms that perform interim reviews and year-end audits of client financial statements

Approval of a resolution to support the creation of a GAAP model for private companies and a separate standards board, a revamp of the CPA Vision project and the election of the new 2010-2011 chairman highlighted the Fall Meeting of Council of the American Institute of CPAs, here.

There are certain things that I've resigned myself to believing will never happen in my lifetime. One is my brother-in-law repaying the money he has owed me for 13 years. The other would find me suddenly enjoying lower taxes in New York State. For good measure, you can also add to that list the day my children stop requesting money.

Many claim that "principles-based" accounting standards are superior to "rules-based" standards.