Audit & Accounting

The global retailer at the center of South Africa’s biggest corporate scandal cut the value of its assets because of accounting irregularities.

The SEC proposed to free small companies from a Sarbanes-Oxley Act requirement that an auditor sign-off on their internal controls over financial reporting.

The United Kingdom’s Financial Reporting Council has fined KPMG’s U.K. firm £5 million (discounted through a settlement to £4 million, or about $5.2 million) for its fiscal year 2009 audits of the Co-operative Bank.

Companies that shop around among auditing firms for clean opinions on their financial statements can compromise the objectivity of outside auditors, according to new research.

The American Institute of CPAs’ Auditing Standards Board has posted a group of standards for audit reports and auditing financial statements.

"Work Your Way to CPA," presented by the Pennsylvania Institute of CPAs and its Pennsylvania CPA Foundation, aims to help students and recent graduates navigate their early careers as CPAs.

QuickBooks Online users can now access RUN Powered by ADP directly from within QBO.

The Center for Audit Quality has introduced a new guide to assist audit committees at overseeing their companies efforts to comply with the new credit losses accounting standard.

A student team representing the University of South Carolina won Deloitte's fourth annual competition on audit innovation.

The Securities and Exchange Commission has voted to propose a set of amendments to its rules governing the kind of information provided to investors.