Audit & Accounting

The Government Accountability Office is making changes to Government Auditing Standards, commonly known as the Yellow Book.

The leader of a trade association representing the equipment finance sector criticized the new accounting standards for leasing contracts proposed by the Financial Accounting Standards Board and the International Accounting Standards Board this week.

Golden Gate University plans to offer a forensic accounting certificate completely online in the fall semester.

The Financial Accounting Standards Board has voted to extend the comment period by an additional 30 days for its proposed standards on the disclosure of loss contingencies.

A new study finds that investors are not only skeptical of upbeat financial forecasts from the management at public companies, but they often believe downbeat forecasts are overly optimistic and less credible than positive news about the company’s outlook.

Only 45.3 percent of organizations conduct even limited reviews of the appropriateness of their executive compensation and benefit programs, according to a new survey by the Institute of Internal Auditors.

The Financial Accounting Standards Board and the International Accounting Standards Board have published their long-awaited joint proposals for overhauling the accounting standards for lease contracts.

The Securities and Exchange Commission is asking the public for feedback on its plans for incorporating International Financial Reporting Standards into the financial reporting system for U.S. issuers.

Russell W. Hinton of Atlanta and Peter Hughes of Orange County, Calif., are the 2010 recipients of the American Institute of CPAs’ Outstanding CPA in Government Award.

A group of Democratic senators has written to the chair of the Securities and Exchange Commission urging the SEC to require more complete and accurate corporate accounting disclosures, especially of off-balance sheet transactions.