Audit & Accounting

Exxon Mobil Corp.’s accounting has prompted a U.S. Securities and Exchange Commission investigation into whether the energy giant should have written down assets as a result of the oil slump, according to a person with knowledge of the matter.

Lee Klumpp of BDO USA discusses in this video how FASB's new accounting standards for not-for-profit organizations will change how nonprofits disclose investment returns and expenses.

The Financial Accounting Standards Board has proposed a set of technical corrections and improvements to its revenue recognition accounting standard.

A startup technology company, AppZen, has introduced new technology that is leveraging artificial intelligence to examine expense reports for signs of fraud.

Lee Klumpp of BDO USA explains in this video how FASB's new nonprofit accounting standards will change how not-for-profits address liquidity.

Financial data extraction platform Validis has released audit working papers specific to nonprofits.

FIFA has chosen PricewaterhouseCoopers’ Swiss firm as its new auditing firm as the international soccer federation tries to recover from a high-profile corruption scandal.

Ernst & Young agreed to pay $9.3 million to settle charges with the Securities and Exchange Commission that two EY audit partners became too close to audit clients, including one who had a romantic relationship with the client.

New York Attorney General Eric Schneiderman’s probe into Exxon Mobil Corp. includes scrutiny of why it didn’t write down the value of oil fields during a global collapse in prices that prompted billions in write-offs by rival drillers, according to a person familiar with the matter.

Lee Klumpp of BDO USA’s Nonprofit Institute for Excellence explains in this video how FASB’s new not-for-profit accounting standards will change how nonprofits classify net assets on their balance sheets.