Audit & Accounting

The Governmental Accounting Standards Board proposed guidance Monday to address a broad set of accounting and financial reporting issues to help state and local governments deal with the implementation and application of certain GASB pronouncements.

The Financial Accounting Standards Board has proposed to amend the amortization period for callable debt securities that are purchased at a premium.

The American Institute of CPAs has issued a new report on the growing threat of “executive impersonation,” in which criminals claiming to be corporate executives convince employees to send them sensitive documents and company information.

FASB’s invitation to comment and the duh-preciation elephant

Three former Tesco Plc executives will plead not guilty to allegations of accounting fraud, their lawyers said as the men appeared in a London court for the first time since being charged.

Marvell Technology Group Ltd. said it will cover as much as $15.4 million of taxes and penalties incurred by former Chairman and Chief Executive Officer Sehat Sutardja when he exercised backdated options in 2006.

PricewaterhouseCoopers wants to show the life of an accountant and auditor isn’t so boring after all, with a new YouTube video.

Lee Klumpp of BDO USA talks in this video about what FASB plans to tackle in the next phase of development of the nonprofit accounting standards.

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.