Audit & Accounting

A roundup of reseller-related news from the previous month

FASB Chairman Russell Golden looks at what's to come

Three short takes: IASB vs. EU; M. Prada stumbles, and GAAP reporting as perjury

The Association of Chartered Certified Accountants gave honorary memberships to two distinguished members of the accounting profession—former International Federation of Accountants CEO Ian Ball and Harvard Business School professor Bob Eccles—at a special event in London.

The Public Company Accounting Oversight Board plans to hold a meeting next Wednesday to discuss re-proposing a requirement for auditing firms to disclose in the auditor’s report the names of the engagement partner and certain other participants in the audit.

The American Institute of CPAs’ Accounting and Review Services Committee has issued a Proposed Statement on Standards for Accounting and Review Services, Framework for Performing and Reporting on Compilation and Review Engagements, as a result of its Clarity Project.

After rebounding in October, the accounting profession’s expectations for economic growth remained healthy this month, according to the November edition of Accounting Today’s monthly Accountants Confidence Index.

Not only are the requirements of the Affordable Care Act difficult and complicated for businesses to understand, but in many cases those aspects that businesses and their advisors think they understand are already slated to change in the future, according to one expert.

The Public Company Accounting Oversight Board approved a 2014 fiscal-year budget of approximately $258.4 million, a 5 percent increase over this past year, and a 2013-2017 strategic plan that includes a greater focus on accounting firms’ burgeoning consulting practices.

The Governmental Accounting Standards Board has issued a fix to correct a problem that emerged with the transition to new pension accounting standards.