Audit & Accounting

The U.K. Financial Reporting Council opened a probe into KPMG LLP’s audits of Carillion Plc, after the builder collapsed under a mountain of debt earlier this month.

William J. McDonough, the original chairman of the Public Company Accounting Oversight Board after the PCAOB was created by the Sarbanes-Oxley Act and a former president and CEO of the Federal Reserve Bank of New York, died Monday.

The Financial Accounting Standards Board’s Emerging Issues Task Force plans to propose new rules for how to deal with cloud computing service costs.

PricewaterhouseCoopers’ firm in India is appealing a two-year ban on auditing public companies by the Securities Exchange Board of India.

The Financial Accounting Standards Board has issued an accounting standards update to clarify how to apply the new lease accounting standard to land easements, simplifying adoption of the standard for some easements.

General Electric Co. is under investigation by U.S. regulators after taking a larger-than-expected charge in its finance division, dealing a new black eye to a company once enshrined as an icon of American business.

Marisa Garcia, a managing director at CohnReznick Advisory, talks about how FASB’s new standard may affect some industries differently.

The U.S. regulator overseeing auditors was rocked by criminal charges as federal prosecutors accused three former employees of leaking inside information to KPMG LLP so it could improve its audit results.

Mandatory quarterly reporting by public companies can lead to a short-sighted focus on near-term results, according to a new academic study.

Four more Staff Q&A documents deal with various financial accounting and reporting implementation issues.