Audit & Accounting

The U.S. Justice Department opened an investigation relating to Autonomy Corp. after Hewlett- Packard Co. accused the software company of misrepresenting its performance before being bought last year.

The Financial Accounting Foundation, which oversees the Financial Accounting Standards Board and the Governmental Accounting Standards Board, is coming out in support of a proposal to create a new Accounting Standards Advisory Forum of international standard setters, but is balking at a requirement that participants need to make a commitment to International Financial Reporting Standards.

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The Public Company Accounting Oversight Board has released its latest inspection reports on Deloitte & Touche, Ernst & Young and Grant Thornton, and identified deficiencies with several of the audits it inspected.

Jill Martin has been named partner in the tax services group at ParenteBeard LLC.

The Financial Accounting Standards Board has released the 2013 U.S. GAAP Financial Reporting Taxonomy.

Grant Thornton reported global revenue growth of 10.4 percent in U.S. dollars, to a record $4.2 billion, for the year ended Sept. 20, 2012. Growth in local currency terms was even higher, at 13.2 percent.

Paul Beswick is the Securities and Exchange Commission’s new chief accountant.

The American Institute of CPAs has developed an online Audit Risk Assessment Tool to help focus in on the potential risk of material misstatements in a financial statement audit due to fraud or error.

The Securities and Exchange Commission has approved Auditing Standard No. 16, Communications with Audit Committees, as well as amendments to other standards from the Public Company Accounting Oversight Board.