Audit & Accounting

Steinhoff International Holdings NV lost a case against a former business partner related to how it reported financials for 2016, the first major legal setback for the global retailer as it battles an accounting scandal.

Awareness, communication and documentation are the keys to staying independent.

The Securities and Exchange Commission named Kyle Moffatt, a former audit manager at Ernst & Young, as chief accountant in the SEC’s Division of Corporation Finance.

The Financial Accounting Standards Board released an accounting standards update Wednesday to help companies deal with the stranded income tax effects in accumulated other comprehensive income stemming from the Tax Cuts and Jobs Act.

PricewaterhouseCoopers signed an agreement Wednesday to sell its U.S. Public Sector business to the private equity firm Veritas Capital.

The buy adds incentive management capabilities that help companies comply with the new rev-rec standard.

The Financial Accounting Standards Board is moving forward with a proposed accounting standards update to reclassify the stranded tax effects from the Tax Cuts and Jobs Act of 2017, although at least one investor group has some concerns.

With 2018 upon us and the extraordinary effort we’ve put in to get us past the public company deadline for the new revenue recognition standards, I’d like to highlight three longer-term considerations for companies to keep in mind as they continue to report and operate under the new rules.

India’s tycoon Singh brothers took at least 5 billion rupees ($78 million) out of the publicly traded hospital company they control without board approval about a year ago, people with knowledge of the matter said.

AI can be a problem for some CPA firms, particularly for those concentrated on attest services, which already have thin margins.