Audit & Accounting

International Accounting Standards Board Chairman Sir David Tweedie said that the U.S. Financial Accounting Standards Board would still continue to play an important role in the standard-setting process, even after the transition to International Financial Reporting Standards in the U.S.

The College for Financial Planning plans to add renewal requirements to some of its professional designations starting next spring.

An Ernst & Young survey of internal auditors found more of a need for specialty skills, especially in focusing on operational risks.

California accounting firms Burr Pilger Mayer and Andersen & Co. plan to merge on Jan. 1, 2009.\

The Public Company Accounting Oversight Board has issued an alert highlighting how the current economic crisis could increase various audit risks such as fraud.

Worries about the financial crisis are spreading rapidly, with job losses hitting levels not seen in over three decades, and people are wondering if CPAs have the answers to help them get through the turmoil.

The sour headlines lead. Ford wants billions in loans. Car makers’ sales are tumbling, like a too-tall SUV on a tight curve. Delta’s slashing service. Staples and Sears are staggering. GE and Goldman Sachs say their decks are awash.

The Teamsters Union has written to the Internal Revenue Service taking issue with proposed regulations that would change the public approval requirements for tax-exempt private activity bonds and potentially undermine the public approval process.

iPro One and American Business have teamed up to offer insurance products that wealth management advisors at CPA firms can market to their clients.

Accountants and banking industry officials hoping for looser financial reporting standards in response to the economic downturn received a reality check from the keynote speakers at the American Institute of CPAs’ National Conference on Current SEC/PCAOB Developments.