Audit & Accounting

Check out the digital edition of the April issue of Accounting Today.

KPMG Southern Africa, a member of the global advisory network, has ended a 15-year stint auditing companies controlled by the Johannesburg-based Gupta family, after the ruling party and the national graft ombudsman announced investigations into its alleged influence over the state.

Four short essays about recent events

The Sustainability Accounting Standards Board has issued provisional sustainability accounting standards for the infrastructure sector, including electric utilities, engineering and construction services, gas utilities, home builders, real estate owners, developers and investment trusts, real estate services, waste management and waste utilities.

The Financial Accounting Standards Board has issued an accounting standards update to improve the accounting for employee share-based payments.

The typical organization loses 5 percent of its revenue to fraud each year, according to a new report from the Association of Certified Fraud Examiners.

One out of three internal audit departments worldwide are now outsourcing at least some of their work to a third party, according to a new study.

Securities class-action lawsuits, including claims against auditing firms, have reached a five-year high, according to a new report.

The Governmental Accounting Standards Board has issued recognition and measurement guidance for state and local governments that benefit from irrevocable split-interest agreements.

More than 80 percent of nonprofits anticipate growth and increased revenues in 2016, according to a new survey.