Audit & Accounting

The Financial Accounting Standards Board has issued an accounting standards update to improve how deferred taxes are classified on the balance sheet.

A partner at a New York CPA firm has pleaded guilty to participating in a multimillion-dollar accounting fraud scheme.

Interim CEOs engage in considerably more earnings manipulation than their permanent successors, according to a new study.

Accounting and financial reporting standards for state and local governments that address nonexchange transactions achieved their purpose, according to a new report.

The Financial Accounting Foundation's board of trustees has decided to overhaul some of the procedures for the Private Company Council, which provides input to the Financial Accounting Standards Board on issues relating to privately held companies.

Securities and Exchange Commission chief accountant James Schnurr indicated Tuesday that he plans to recommend to SEC chair Mary Jo White that U.S. companies be allowed to use International Financial Reporting Standards to provide supplemental information, in addition to filing their financials in accordance with U.S. GAAP.

Companies are taking steps on their own to make their financial reports and disclosures more understandable, according to a new report.

Public company audits are improving, according to Securities and Exchange Commission Chief Accountant James Schnurr -- and they need to keep on doing so.

PricewaterhouseCoopers has been working on ways to soup up its audit practice by leveraging data analytics technology.

My last column addressed the importance of controls when trying to get a client. But it is also important to retain the client. A good system that is not monitored is a sure way to not only lose the client, but be kept awake at night.