Audit & Accounting

A report by Fitch Ratings calls into question the cost-effectiveness of the improvements in financial statement presentation proposed by FASB and its international counterpart.

The International Public Sector Accounting Standards Board wants to know more about how government accountants in developing countries are using cash-basis reporting.

New accounting standards effective at the beginning of 2009 will impact the accounting for mergers and acquisitions.

Grant Thornton has sent a letter to federal officials proposing that banking regulators adjust capitalization requirements to take into account the broader economic environment.

The International Public Sector Accounting Standards Board has proposed new guidance to deal with the wave of government takeovers of private businesses.

Two thirds of the 500 largest public companies are prepared to begin using interactive data-tagging technology to file their financial statements, according to a new survey.

The Center for Audit Quality has released a new guidebook to explain to investors, managers and other interested parties the important role played by auditors of public companies.

PNC Equity Partners II LP has acquired Apex Analytix, a firm that provides recovery audit services to more than a third of the Fortune 100.

The Ohio Society of CPAs is teaming up with the U.S. Department of Labor to improve the quality of audits of employee benefit plans in the Buckeye State.

Norwalk, Conn. - Governments have always found it difficult to properly report fund balances when the uses of various fund amounts were restricted in a number of ways. A dollar that couldn't be spent did not combine well with a dollar that could only be spent for a specific purpose, or a general fund dollar that could be spent without constraint.