Audit & Accounting

The Financial Accounting Standards Board has proposed an accounting standards update to reduce the cost and complexity of financial reporting related to the consolidation of variable interest entities, based on recommendations from FASB’s sister organization, the Private Company Council.

The NBA legend says star athletes need solid financial advice.

The Certified Financial Planner Board of Standards has proposed a set of revisions to its Standards of Professional Conduct setting ethical standards for CFPs.

Already reeling from a $4.5 billion bill to save its ailing No. 1 lender, Ukraine is now bracing for an even costlier rescue, and says audits by PwC’s local office were instrumental in the bank’s failure.

Auditors are increasingly taking responsibility for fraud detection and cybersecurity at companies, whether they like it or not.

More and more, individuals want a single source for tax and financial planning services.

On the one hand, breaches and data theft are a risk – but on the other, they’re an opportunity for accountants. LBMC’s Mark Burnette talks about the AICPA’s new cybersecurity service offering, and the field as a whole.

Proxy adviser Glass Lewis & Co. blasted Toshiba Corp.’s board for poor governance amid repeated scandals and recommended investors vote against all directors at the company’s shareholders meeting later this month.

The annual three-day event helps minority students network and prepare for the CPA Exam.

The Public Company Accounting Oversight Board’s recently proposed rules on auditing accounting estimates and using the work of specialists indicate the PCAOB wants auditors to view management bias more skeptically.