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The American Institute of CPAs has released two new standards, one on auditing professional requirements, which includes a section on attestation engagements, and a second dealing with audit documentation.
February 9 -
The general counsel of the Public Company Accounting Oversight Board will leave his post in late March.
February 8 -
In a case that may wind up in the Supreme Court, an unnamed accounting firm is poised to lodge a legal challenge questioning the constitutionality of the Public Company Accounting Oversight Board.
February 8 -
Alongside the release of President Bush's budget proposal for 2007, the White House asked Congress to create a new regulator for home mortgage giants Fannie Mae and Freddie Mac. The regulator would be directed to cut the $1.4 trillion investment portfolios held by the companies.
February 7 -
Insurer American International Group is expected to announce a settlement with federal and state regulators requiring the company to pay $1.6 billion in order to settle charges covering a range of regulatory issues, according to reports.
February 7 -
Stricter pension accounting rules from the Financial Accounting Standards Board could cost billions for shareholders, HR company Towers Perrin said.
February 6 -
Five former executives at the reinsurance unit of Berkshire Hathaway Inc. and insurer American International Group Inc. have been charged in a fraud probe of the two companies, the Securities and Exchange Commission and Justice Department announced.
February 3 -
Consulting firm BearingPoint Inc., the spinoff of KPMG's former consulting business, reported a $546.2 million loss for 2004 and said that it still faces liability issues under the Foreign Corrupt Practices Act.
February 2 -
The Governmental Accounting Standards Board issued an exposure draft that would require governments to account for all the obligations and costs related to pollution remediation.
February 2 -
The head of the European Commission's financial markets division said that public companies from the United States and Japan will be given another year to bring their accounting standards closer to new European Union standards.
February 2