The Latest

Firm News -- March 9

Grant Thornton has released a new paper calling for an overhaul in the current thinking of the Financial Accounting Standards Board and the International Accounting Standards Board on lease accounting standards, instead advocating the use of two different lease accounting models.

SourceMedia has appointed Daniel Hood as the new editor-in-chief of Accounting Today.

The status of female professionals within public accounting firms began to attract attention as a business issue in countries such as the United States, the United Kingdom and Canada in the early 1990s.

International Accounting Standards Board chairman Hans Hoogervorst told attendees at a financial conference in Mexico City that the board plans to give accountants a period of relative stability to give them time to adjust to all the new standards.

The New York State Society of CPAs expressed its support for the Public Company Accounting Oversight Board’s proposals for improving communications between auditors and audit committees, but objected to several of the new requirements.

CPAs who work as business executives are feeling more optimistic about the prospects for the U.S. economy and their own businesses over the next 12 months, according to a new survey by the American Institute of CPAs.

Six franchise industries offer a promising outlook for revenue growth and number and dispersion of franchise establishments, according to industry research firm IBISWorld.

The House Ways and Means Committee held a hearing to consider changing the tax treatment of closely held businesses in the context of overall tax reform efforts.

The financial services industry has always had pretty specific rules about testimonials, recommendations and advisory.