Audit & Accounting

Stanley Hochhauser passed away last Wednesday. He was a client that I worked with in my first job and became my client when my father passed away in 1976. Stanley was the last of my father’s clients and his passing also closed a link to my past. I am an accountant because of clients like Stanley.

The Financial Accounting Standards Board has issued an accounting standards update to simplify the measurement of inventory.

The International Auditing and Assurance Standards Board released an exposure draft proposing amendments to its International Standards on Auditing in response to recent proposals from International Ethics Standards Board for Accountants on how to respond to noncompliance with laws and regulations.

Wealth Magnets: The Top Firms by AUM

The Public Company Accounting Oversight Board has disciplined seven audit firms and seven auditors who worked at the firms for violations of the Engagement Quality Review standard and other requirements.

Institutional investors are expressing a high level of dissatisfaction with the types of sustainability-related information they are getting from companies, according to a new survey from PricewaterhouseCoopers.

One of the more intriguing questions stemming from the Toshiba Corp. accounting scandal is this: Where was the whistleblower?

Toshiba Corp. issued almost 1 trillion yen ($8 billion) of stocks and bonds when it was inflating earnings statements, leaving the company exposed to possible regulatory fines and investor lawsuits.

The International Accounting Standards Board confirmed Wednesday a one-year deferral of the effective date of the revenue recognition standard to stay in alignment with the Financial Standards Accounting Board, which also recently decided to defer the standard for companies in the U.S.

Toshiba Corp. President Hisao Tanaka and his two predecessors quit after investigators found that the Japanese conglomerate inflated earnings by at least $1.2 billion since the global financial crisis.