Audit & Accounting

Krista McMasters has decided to resign as co-chief executive officer of CliftonLarsonAllen and retire on April 1, 2013, a little over a year after the firm's creation from the merger of Clifton Gunderson and LarsonAllen.

SAP has released the SAP Fraud Management analytic application powered by SAP HANA, the latest analytics tool from the enterprise software maker designed to integrate with most ERP systems in order to detect, investigate, analyze and prevent irregularities or fraud activity.

The trustees of the IFRS Foundation have included the U.S. Financial Accounting Standards Board among the national and regional standard-setters in the new Accounting Standards Advisory Forum, the new group that will advise the International Accounting Standards Board on development of International Financial Reporting Standards.

The Securities and Exchange Commission is asking for public comments on a proposal from Nasdaq to require Nasdaq-listed companies to establish an internal audit function no later than Dec. 31.

The Securities and Exchange Commission’s Division of Corporate Finance has issued new guidance allowing public companies to provide equity-based financing to employees through a program involving loans without violating Sarbanes-Oxley, with some help from former Congressman Michael Oxley himself.

The internal audit function has a greater opportunity to deliver value to businesses outside its traditional focus areas, according to a new survey by PricewaterhouseCoopers, but before it can contribute to businesses in a more meaningful way, it must keep pace and continue to evolve its focus.

CollegeFrog’s National Meet the Firms Week, Deloitte’s exclusive arrangement with The WSJ and more…

The Governmental Accounting Standards Board has introduced an online version of its Governmental Accounting Research System, GARS Online, providing online access to accounting standards and related literature for state and local governments.

Fitch Ratings is warning that approval of a Financial Accounting Standards Board proposal on the treatment of credit losses for loans and other financial assets could eventually force U.S. banks to book expected losses early, putting pressure on their reserve levels and reported earnings.

The International Accounting Education Standards Board has issued a set of revised standards for the initial professional development of accountants emphasizing that practical experience plays a key role in developing the competence of fledgling accountants.