Audit & Accounting

Firms decry PCAOB's proposal on requiring audit signatures

The Public Company Accounting Oversight Board has delayed the effective date of its new rules requiring accounting firms to report on events such as litigation so it can resolve technical issues with the Web-based system it plans to use for receiving the reports.

The Institute of Internal Auditors is asking companies to lend some of their “brightest and budding” internal audit practitioners to serve on six-month rotational fellowships at the institute and influence the evolution of the internal audit profession.

The Financial Accounting Standards Board and its global counterpart, the International Accounting Standards Board, hope to stay in lockstep on standards, but oftentimes it’s not so easy.

PricewaterhouseCoopers has released the 2009 edition of its free downloadable guide comparing International Financial Reporting Standards with U.S. GAAP.

The author of a new book on the Financial Accounting Standards Board’s recently released GAAP Codification said CPA firms could be exposed to litigation risks unless they deploy the new codification rapidly.

The Group of 20 Leaders included a call for accounting convergence in their statement at the conclusion of their summit in Pittsburgh last weekend.

I know, I know you’re used to being in demand.

Many accounting firms are doing a good job of following new standards for conducting risk-based audits of internal controls, but others are not applying the standards properly, according to a new report by the Public Company Accounting Oversight Board.

Rep. Nydia Velázquez, D-N.Y., chair of the House Committee on Small Business, has proposed legislation to extend several expiring Small Business Administration lending programs.