Audit & Accounting

The Government Accounting Standards Board has drafted proposed standards for local government bankruptcies, and is giving interested parties until August 28 to comment.

The Financial Accounting Standards Board may expand the use of mark-to-market accounting to the loans held by banks.

The American Bankers Association has released a letter and white paper raising concerns over the process taken by the Financial Accounting Standards Board and the International Accounting Standards Board in their financial instruments projects.

The Public Company Accounting Oversight Board has published two lists of accounting firms that have not yet been inspected and jurisdictions in which it has inspected registered non-U.S. firms.

IMGCAP(1)]The Financial Accounting Standards Board took plenty of heat in April for loosening mark-to-market guidelines, a move that critics assailed as a gift to the financial industry and a nod to political pressures.

The Financial Accounting Standards Board plans to draft proposed updates to fair value accounting standards with new disclosure requirements.

CCH has released the latest version of its TeamMate audit management software with enhanced management reportlng and issues-tracking features.

IMGCAP(1)] All too often, professional leadership seminars fail to live up to their potential for lively, intellectually engaging discussions about current issues and those on the forefront. I recently returned from the AICPA’s Inaugural Leadership Academy in Chicago where 28 young CPAs discussed topics affecting accountants everywhere.

The American Bankers Association is objecting to the newest proposed accounting standards for financial instruments, claiming that they would dramatically expand the use of the much-maligned mark-to-market accounting.

The International Accounting Standards Board has published a set of proposals on the classification of rights issues to clarify their accounting treatment when they are in a currency other than the issuer’s.