Audit & Accounting

The head of a British accounting group is warning the U.S. Securities and Exchange Commission and the Financial Accounting Standards Board against pursuing a so-called “condorsement” approach to International Financial Reporting Standards.

IMGCAP(1)]In mid-2011, the American Institute of CPAs established a Service Organization Controls reporting framework in hopes of providing the public and CPAs with a clearer understanding of the reporting options for service organizations.

Accounting Today handed out the awards for the Best Accounting Firms to Work For 2011 at the Accounting Today Growth & Profitability Summit in Las Vegas.

U.S. and Hong Kong accounting organizations have inked a five-year mutual recognition agreement that would allow reciprocity between U.S. and Hong Kong CPAs.

More than half of global businesses are unaware of pending lease accounting changes that would virtually eliminate the use of off-balance sheet leases, according to a new survey by Grant Thornton.

Financial Accounting Standards Board chair Leslie Seidman gave a cautious thumbs-up to the so-called “condorsement” approach to incorporation of International Financial Reporting Standards in the U.S., while defending FASB’s authority over private company accounting standards.

The National Association of State Boards of Accountancy has launched a new Web site, CPAverify.org, that provides a central database of state licensee information about CPAs practicing across the U.S.

New information made public by the U.S. Federal Election Commission reveals that members of the accounting profession are opening their checkbooks early and often in an effort to help candidates in the 2012 Presidential elections.

Unlike Texas Governor Rick Perry, I personally do not spend time mulling over the immigration status of Mitt Romney's lawn care crew.

The Securities and Exchange Commission plans to hold its inaugural roundtable in the Financial Reporting Series on “Measurement Uncertainty in Financial Reporting.”