Audit & Accounting

The Public Company Accounting Oversight Board has issued a concept release that aims to overhaul the auditor’s reporting model, describing different alternatives to provide more information to investors from the auditors of publicly traded companies.

A federal appeals court ruled in favor of PricewaterhouseCoopers during a lawsuit involving overtime pay for junior accountants.

Total goodwill impairment charges continued to fall sharply across a number of industries nationwide throughout 2010, and the number of companies recording goodwill impairment charges dropped by 41 percent, according to a new study by KPMG.

The Financial Accounting Standards Board and the International Accounting Standards Board issued amendments Thursday to improve and align the presentation of items of other comprehensive income in financial statements prepared in accordance with International Financial Reporting Standards and U.S. GAAP.

Accounting Today has introduced a new app for the Apple iPad and iPhone that lets readers access the magazine’s features and content from the palm of their hand.

The Securities and Exchange Commission unanimously proposed amendments Wednesday to the broker-dealer financial reporting rule to strengthen audits of broker-dealers as well as the SEC’s oversight of the way broker-dealers handle their customers’ securities and cash.

The Financial Accounting Standards Board and the International Accounting Standards Board agreed Wednesday to re-expose their revised proposals for a common revenue recognition standard, allowing people to offer further suggestions for changes.

The three-decade-long debate of having differential standards for private companies, the tougher regulatory climate on Capitol Hill, the meteoric rise in cloud and mobile computing and the changing demographics were cited among the top issues impacting the profession.

The Public Company Accounting Oversight Board voted Tuesday to adopt rules to implement provisions of last year’s financial reform bill to begin inspecting auditors of securities brokers and dealers.

CCH and Baker Tilly International have begun a strategic partnership that will enable accounting firms in the Baker Tilly International network to receive CCH news, insights and other information services.