Audit & Accounting

Tommaso Padoa-Schioppa, who was appointed only six months ago to oversee the board that sets international accounting standards, died of a heart attack on Saturday night.

Eighty percent of CPA firms reported either a decline in revenue, no growth, or modest growth between May 2008 and June 2010, according to a new survey by the American Institute of CPAs and the Texas Society of CPAs.

The Governmental Accounting Standards Board has issued revisions to its financial reporting entity standards to better account for business-type activities at government-run institutions such as state universities.

Check out the digital edition of the December 13, 2010-January 10, 2011 issue of Accounting Today.

KPMG reported a 2.6 percent increase in annual revenue worldwide Thursday to $20.63 billion from $20.11 billion, a 0.1 percent increase in local currency terms.

Accounting bodies from three countries have found an increase in sustainability strategies to address climate change, particularly within large companies.

The Public Company Accounting Oversight Board has established a new Office of Outreach and Small Business Liaison.

Accounting Today is in the midst of compiling its annual lists of the Top 100 Firms and Regional Leaders.

Two years after revelations emerged of Bernard Madoff’s multibillion-dollar Ponzi scheme and only days after the suicide of Madoff’s eldest son, the Public Company Accounting Oversight Board proposed a set of rules on Tuesday to begin expanding the PCAOB’s oversight authority to encompass audits of securities brokers and dealers.

AUDIT FIRMS OFFER ADVICE ON NEW CLIENTS