Audit & Accounting

The International Federation of Accountants’ Professional Accountants in Business Committee has significantly updated its Sustainability Framework, a document aimed at helping professional accountants and their organizations integrate sustainability into their strategy, operations and reporting.

CBIZ MHM LLC has formed a national specialty practice group focused on forensic services, bankruptcy and valuation.

iShade.com, a free online network for the accounting profession, has secured an undisclosed amount of funding from Computime Equity Ventures.

The finance and accounting outsourcing market is expected to grow 15 to 20 percent this year and top $4 billion in annual contract value.

The Public Company Accounting Oversight Board has been doing outreach to gauge the views of investors and others on potential changes to the auditor’s reporting model and plans to propose changes as soon as this summer.

Small and midsized accounting firms need to do more to help small businesses cope with the economy in countries around the world, according to international accounting leaders.

The American Institute of CPAs and the Chartered Institute of Management Accountants are teaming in a joint venture that would create an international designation for management accounting.

As the Financial Accounting Standards Board and the International Accounting Standards Board move forward with plans to produce converged standards in areas such as leasing, revenue recognition and financial instruments, companies are expecting the new standards to have a major impact on their businesses, according to a new survey from PwC.

The Public Company Accounting Oversight Board has issued a research note cautioning U.S. registered accounting firms that their audits of companies with operations outside of the U.S., particularly in China, may not be in accordance with PCAOB standards if the company accessed the U.S. capital markets through a reverse merger transaction.

A new survey of more than 300 chief audit executives by Grant Thornton found that 88 percent do not believe that the Sarbanes-Oxley Act should be repealed, though half said the shifting regulatory landscape poses the greatest threat to their company.