Audit & Accounting

The Financial Accounting Standards Board has released a new Accounting Standards Update aimed at improving employer disclosures for multiple-employer pension plans.

The International Federation of Accountants has begun an executive search for a CEO to succeed incumbent Ian Ball, whose contract expires in February 2013 and who is not seeking another term.

Financial Accounting Standards Board chair Leslie Seidman said that many of the priority projects slated for convergence with the International Accounting Standards Board probably will not be settled until next year at the earliest.

Financial Accounting Standards Board chair Leslie Seidman argued Tuesday that the board has been increasing its outreach to private company accountants as FASB awaits a report from the trustees of its parent organization on whether oversight of private company accounting standards should be handed to a separate board.

The Financial Accounting Standards Board has finalized a new standard aimed at simplifying how organizations test goodwill for impairment.

IMGCAP(1)]This year the SSAE 16 assessment standard will replace the SAS 70 audit standard.

A trustee working group at the Financial Accounting Foundation plans to release its proposals in the next few weeks for changing the structure and process of the Financial Accounting Standards Board’s oversight of standards for private companies and nonprofits.

More than three-quarters of corporate board members in a new survey said their main concern with the SEC’s new whistleblower rewards is the negative impact of an increase in false allegations.

The Public Company Accounting Oversight Board has reached an agreement with Norway’s Financial Services Authority that will allow the regulators to conduct joint inspections of PCAOB-registered audit firms in Norway.

As part of our Top 100 Most Influential People in Accounting report, we asked the candidates how likely they thought it would be that we will see separate accounting standards for private and public companies in the U.S. in the near future, and if they thought it likely, what form they thought it would take.