Audit & Accounting

Robert Herz, the former chairman of the Financial Accounting Standards Board, who retired unexpectedly last fall, has found a new job: senior advisor at WebFilings, a company that provides technology for SEC financial filings.

The Public Company Accounting Oversight Board has named Helen A. Munter as the new director of its Division of Registration and Inspections.

The New York State Society of CPAs is getting behind the efforts of the International Auditing and Assurance Standards Board to clarify the guidance for auditing the valuations of complex or illiquid financial instruments, such as derivatives.

Check out the digital edition of the February issue of Accounting Today.

The Governmental Accounting Standards Board has proposed guidance on how to apply the accounting standards when a hedging derivative is terminated for a government entity.

European Union Internal Market Commissioner Michel Barnier plans to introduce draft legislation in November to curb the increasing concentration of auditing work among the Big Four firms.

Representatives of the U.S. and Japanese accounting standards boards met in Connecticut this week to talk about their efforts to converge with international standards.

Check out the digital edition of the February issue of Accounting Today.

James Doty, the newly appointed chairman of the Public Company Accounting Oversight Board, believes auditors need to be doing a better job of detecting suspicious patterns and practices at the companies they audit, and to do a better job of communicating their concerns.

Congressmen Brad Sherman, D-Calif., and Michael Conaway, R-Texas, have formed a Bipartisan Congressional CPA Caucus that they plan to co-chair.