Audit & Accounting

With the effective date for the new lease accounting standard taking effect at the end of the year for public companies, many are finding themselves unprepared and their accounting systems in need of an upgrade.

The shakeup at the Public Company Accounting Oversight Board continued with the announcement Tuesday that Claudius Modesti, director of the PCAOB’s Division of Enforcement and Investigations, will be leaving at the end of the month.

The Tax Cuts and Jobs Act is having a major impact below the federal level.

The European Union’s General Data Protection Regulation takes effect Friday, and it could affect accountants and auditors, along with their clients, in the U.S.

Samsonite International SA, the world’s largest branded-luggage maker, tumbled the most since 2012 after short-seller Blue Orca Capital questioned the company’s accounting and corporate governance.

XYPN will cover the costs of the CPA Exam for its members who do not yet have CFP certification.

Accounting and finance organizations for many multinational businesses are currently working to create plans for two separate standards.

The Public Company Accounting Oversight Board censured Deloitte & Touche LLP and imposed a $500,000 penalty against the Big Four firm for overlooking material accounting errors during three consecutive audits of Jack Henry & Associates, Inc., a Missouri-based IT provider for banks and credit unions.

The International Foundation of Accountants has released the fourth edition of its Guide to Practice Management for Small- and Medium-Sized Practices (the Guide) to help small and midsized accounting practices meet the challenges of the globalized digital world.

KPMG LLP is conducting an internal review into its audits of embattled Middle East buyout firm Abraaj Group following the alleged misuse of money, according to people with knowledge of the matter.