Audit & Accounting

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The Public Company Accounting Oversight Board has published new guidance about the recent requirement for accounting firms to file annual reports about their audit clients, fees, staff disciplinary histories and other information.

The U.K.’s Accountancy and Actuarial Discipline Board has begun an investigation into the conduct of Ernst & Young LLP as auditors to Lehman Brothers International Europe, including Lehman’s use of repurchase agreements.

McGladrey & Pullen mourned the death of retired partner Ray Krause, who spent about four decades with the firm.

.A new set of standards will allow accountants to explain exactly why their independence may have been impaired when performing compilation services for clients.

PricewaterhouseCoopers has surveyed a group of investors and analysts to gauge their attitudes toward the different approaches taken by the accounting standards boards to account for financial instruments, including loans.

IMGCAP(1)]Check out the digital edition of the June 21, 2010 issue of Accounting Today. The issue contains the following articles and more:

Fitch Ratings has issued a report on the Financial Accounting Standards Board’s recently unveiled proposal requiring most financial instruments, including loans, to be measured on the balance sheet at fair value.

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