Audit & Accounting

The International Accounting Standards Board issued a revised version of its standard for the presentation of financial statements aimed at improving users' ability to analyze and compare the information in them.

Thomson Corp. said it would acquire the Deloitte Tax LLP Property Tax Services business for an undisclosed sum.

KPMG's Canadian arm found itself on the receiving end of a class-action lawsuit, claiming that the firm did not properly compensate employees for their overtime work or denied them overtime compensation altogether.

The Virginia Society of CPAs debuted an "Ask a CPA" e-mail program that promises free answers to personal financial questions within three business days.

Accounting firm Grant Thornton has launched a Financial Services Group in the United Kingdom that combines its old Financial Markets Group with the financial services practice it acquired from its merger with RSM Robson Rhodes in the U.K.

Robert DeSantis, a top executive with the parent organization of the Financial Accounting Standards Board and Governmental Accounting Standards Board, has resigned.

CPA firms saw big gains in both income and fees last year, thanks to the demand for Sarbanes-Oxley compliance services, according to a newly released survey.

CEOs of Fortune 100 companies are receiving increasingly valuable financial planning perks, according to a new study.

Financial holding company International Bancshares Corp. said that its audit committee has dismissed KPMG as its auditor and replaced the Big Four firm with McGladrey & Pullen.

It’s nice to see that CPAs and their firms are doing very well. According to the just-released 2007 Rosenberg MAP Survey, firms with net fees over $2 million enjoyed annual net fee growth of 11.4 percent in 2006, compared to 9.7 percent in 2005. The average income for partners in these firms, according to the survey, is $350,000.