Audit & Accounting

Key challenges facing small- and medium-sized practices in the accounting industry worldwide have been identified as attracting new clients and complying with regulations and standards, according to a new survey by the International Federation of Accountants.

The Financial Accounting Standards Board is still in the process of deciding whether the revenue recognition standard that it converged last year with the International Accounting Standards Board should be delayed to allow more companies to adjust to it before the new rules take effect in 2017. But that doesn’t mean companies should wait in case there’s a postponement.

Edwin J. Kliegman, a co-founder of Top 20 Firm Marcum, a founding father of the National Conference of CPA Practitioners, and a passionate champion of small CPA practices, has died.

According to new statistics gathered by the New York State Education Department, the number of New Yorkers obtaining a Certified Public Accounting license from the state remained constant, albeit lower, in 2014.

The clawbacks on executive compensation mandated by the Dodd-Frank Act may discourage one type of accounting manipulation only to encourage another, according to a new study.

Berkowits Pollack Brant celebrates an anniversary, Marcum’s Annual MicroCap Conference details are out and more…

The International Auditing and Assurance Standards Board has released newly revised standards for overhauling auditor reports, with the goal of enhancing the auditor’s report for investors and other financial statement users.

J Sainsbury Plc will appoint Ernst & Young LLP as auditor, ending a relationship with PricewaterhouseCoopers LLC dating back about two decades.

John Veihmeyer, the global chairman of KPMG and chairman and CEO of KPMG in the U.S., has joined the board of trustees of the Financial Accounting Foundation, the parent organization of the Financial Accounting Standards Board and the Governmental Accounting Standards Board.

The AICPA and American Accounting Association (AAA), the founding co-sponsors of the Pathways Commission on Accounting Higher Education, announced major developments in the implementation of the Commission’s recommendations on Thursday.