Audit & Accounting

Accountants and tax practitioners had a busy time this past year keeping up with all the changes in the profession. Here’s our annual list of the top stories in the past year that kept our readers coming to the site for the latest developments:

The Public Company Accounting Oversight Board posted its 2010 inspection report on Deloitte & Touche on Tuesday, highlighting what it called “audit failures.”

The U.S. Public Company Accounting Oversight Board said Tuesday it has entered into a cooperative agreement with the Arab state of Dubai for the oversight of auditors in both countries.

The Public Company Accounting Oversight Board voted Tuesday to re-propose for public comment its proposed standards for how auditors should communicate with audit committees.

The Institute of Internal Auditors has sent a comment letter to the Public Company Accounting Oversight Board taking issue with the PCAOB’s proposal to require mandatory rotation of audit firms for listed companies, echoing concerns from the American Institute of CPAs and the New York State Society of CPAs.

The Committee of Sponsoring Organizations of the Treadway Commission has released for public comment an updated version of its internal control framework in response to changes in the business environment and their associated risks.

Jeffrey Thomson, president and CEO of the Institute of Management Accountants, worked for over two decades in the telecommunications industry and knows a thing or two about competition.

The Financial Accounting Standards Board and the International Accounting Standards Board issued common disclosure requirements Friday to help investors better understand the impact of offsetting, or netting, on a company’s financial position.

Lack of clarity about the requirements for the Small Business Lending Fund that was established last year by the Small Business Jobs Act led to confusion among both lenders and borrowers alike, according to a new government report.

PricewaterhouseCoopers and the Institute of Internal Auditors Research Foundation have released a book to help corporate directors address their fiduciary and other responsibilities.