Audit & Accounting

The Financial Accounting Standards Board has issued a proposed Accounting Standards Update aimed at clarifying the scope of transactions that would be subject to disclosures about offsetting of assets and liabilities on the balance sheet.

Lattimore Black Morgan & Cain PC gave five staff members the role of partner.

Mike Lynch, who founded the British software company accused by Hewlett-Packard Co. of falsifying finances, said that while he may have used some of the contested accounting and sales methods, they were all legal.

Recent network memberships, awards, new Web sites and more

Financial Accounting Standards Board chair Leslie Seidman talks with Accounting Today editor-in-chief Daniel Hood about how FASB's relationship with the International Accounting Standards Board is changing.

The BDO network of accounting firms said Tuesday that annual revenue grew 6.11 percent worldwide for its member firms compared to last year.

Hewlett-Packard Co. took an $8.8 billion charge citing “a willful effort to mislead investors and potential buyers” at Autonomy Corp., the software company it agreed to purchase last year for $10.3 billion.

Jeremy Friehling, the 23-year-old son of Bernard Madoff’s former auditor, David Friehling, has died of an apparently self-inflicted gunshot wound.

Darin James is the newest partner in RubinBrown LLP's tax consulting group.

The Canadian member firm of KPMG has acquired the Abbotsford, British Columbia-based firm, Cochrane & Associates Chartered Accountants. The deal closed on November 1, 2012.