Audit & Accounting

The head of Germany’s accounting regulator faces scrutiny after telling a parliamentary committee that he traded Wirecard AG shares while his agency was reviewing the now bankrupt payment company’s external audits.

The International Federation of Accountants reiterated its call this week for an international sustainability standards board under the purview of the International Financial Reporting Standards Foundation.

The International Accounting Standards Board is looking into the standards for consolidated financial statements, or group accounting.

The practice is helping clients deal with streamlining operations, reducing unnecessary expenditures and improving their profitability and cash flow.

Hong Kong has received the first access to financial audits from mainland Chinese companies, an issue that has vexed relations between the U.S. and China and threatens to lead to the delisting in New York of giants such as Alibaba Group Holding Ltd.

Industry expert Allan Koltin shared four areas where accounting firms should be prepared to transform in 2021.

The commission says the company financial disclosures were misleading.

Stakeholder engagement and feedback are critical to standard-setting, says Richard Jones.

Accounting's most influential people share realizations prompted by the coronavirus pandemic.

Stress-tested by the pandemic, the profession is emerging stronger and more respected than before.