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Diamond Foods Inc removed top management after a probe by its audit committee found that the company improperly accounted for payments to walnut growers, sending its shares down 40 percent in after-hours trading.
February 9 -
The Public Company Accounting Oversight Board has imposed a $2 million civil penalty against Ernst & Young, the largest civil money penalty to date in the PCAOBs 10-year history, and censured the firm for audit failure, while sanctioning four of E&Ys current and former partners.
February 8 -
Professional accountants need to respond to increasing demand from investors for non-financial information, specifically environmental, social and governance disclosures, according to a new report.
February 6 -
The Center for Audit Quality has released its second video featuring hard-boiled external auditor, Ledger Lines, to explain how auditing works.
February 6 -
The Securities and Exchange Commission has named Jeanette M. Franzel, a managing director of the Government Accountability Office, as a member of the Public Company Accounting Oversight Board.
February 3 -
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Financial Accounting Standards Board chair Leslie Seidman provides an update on the progress FASB is making on converging U.S. GAAP with IFRS and the SEC's delayed decision on incorporating IFRS in the U.S. financial reporting system in an interview with Accounting Today editor-in-chief Bill Carlino.
February 1
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We're drafting this column in January, when many were surely puzzling over Securities and Exchange Commission Chief Accountant Jim Kroeker's December announcement that the commission would not, after all, decide by year end whether the International Accounting Standards Board and International Financial Reporting Standards would replace the Financial Accounting Standards Board and U.S. GAAP.
February 1
