Audit & Accounting

The International Accounting Standards Board has amended its financial instruments standards to prevent companies with financial problems from trying to claim a profit based on an inflated value of the debts they owe.

Corporate executives are getting ready to move to International Financial Reporting Standards, but say they probably won’t do it until the Securities and Exchange Commission mandates it, even if an early adoption option is allowed, according to a new survey.

India is scheduled to begin using International Financial Reporting Standards in less than six months, but the country may be making several key changes in the standards prior to the rollout.

The Accountancy and Actuarial Discipline Board in the United Kingdom has begun an investigation of KPMG’s U.K. firm for its audits of British Aerospace and BAE Systems Group.

IMGCAP(1)]Let’s look at two everyday situations. In one, a bank lends money to someone to buy a house or to start a new business. In the second, a company raises debt financing to finance a new investment.

SEC AIMS AT BALANCE SHEET 'WINDOW-DRESSING'

The Financial Accounting Standards Board is asking stakeholders for input on how to improve the accounting for insurance contracts in financial reports.

A new academic study has found evidence that Sarbanes-Oxley 404 audits of companies’ internal controls significantly reduce the likelihood of issuing materially misstated financial statements.

Asking the right questions when considering accepting new audit clients, or continuing a relationship with an existing client, is the key to establishing a quality relationship, according to a new paper issued by a group of audit firm networks.