Audit & Accounting

The Financial Accounting Foundation, overseer of the Financial Accounting Standards Board and the Governmental Accounting Standards Board, has pushed back to Jan. 6, 2012, the deadline for submitting applications to participate in private company accounting standards roundtable discussions scheduled for January, February and March.

The Financial Accounting Standards Board has deferred some of the rules it issued earlier this year to make the presentation of other comprehensive income more prominent on financial statements.

IMGCAP(1)]We all face numbers, sometimes on a daily basis.

The Texas Society of CPAs’ Professional Standards Committee has sent a comment letter to the Public Company Accounting Oversight Board taking issue with the PCAOB’s proposed requirement for the lead auditor to sign off on an audit.

The Public Company Accounting Oversight Board released its latest inspection report of Ernst & Young on Thursday and found that some of the deficiencies it uncovered rose to the level of “audit failures.”

Congress has reauthorized the Small Business Innovation Research and Small Business Technology Transfer programs for another six years.

The International Auditing and Assurance Standards Board released a new assurance standard Wednesday on pro forma financial information included in a prospectus.

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.