Audit & Accounting

The Financial Accounting Standards Board’s Emerging Issues Task Force has issued an accounting standards update for contingent put and call options in debt instruments.

The Securities and Exchange Commission has approved a 2016 budget for the Public Company Accounting Oversight Board of $257.7 million, and an increase in the accounting support fee to $253.3 million.

The world’s largest banks are incorrectly accounting for their swaps trades, locking up money that could otherwise be paid out as dividends to their shareholders, according to a bold new academic paper.

Lee Klumpp of BDO USA discusses in this video some of FASB's proposed changes in not-for-profit accounting standards.

The Institute of Internal Auditors Research Foundation has issued a new report offering strategies for motivating internal audit staff, including dealing with generational differences.

The Financial Accounting Standards Board’s Emerging Issues Task Force has issued an accounting standards update to address the extinguishment of liabilities and recognition of breakage for prepaid stored-value products, such as gift cards, telephone cards and traveler’s checks.

The Financial Accounting Standards Board’s Emerging Issues Task Force has issued an accounting standards update on the effect of derivative contract novations on existing hedge accounting relationships.

A former accounting manager at air conditioning maker Carrier Corporation was sentenced to 12 months in prison for his role in an insider embezzlement scheme.

The Securities and Exchange Commission charged California’s largest agricultural water district Wednesday with misleading investors about its financial condition as it issued a $77 million bond offering, with one of its managers bragging about using “a little Enron accounting.”

John Raspante of NAPLIA explains in this video why failing to detect fraud is such a common claim in malpractice lawsuits against accountants and how to protect your firm against it.