Audit & Accounting

The International Auditing and Assurance Standards Board has released new proposals for how to audit complex financial instruments such as derivatives whose trading contributed to the financial crisis.

IMGCAP(1)]As we prepare for the replacement of SAS 70 by SSAE 16, articles and vendor whitepapers are flooding the landscape.

As the incoming chairman of the International Accounting Standards Board, Hans Hoogervorst has been named to a key position in the global accounting profession at a time of dramatic changes.

Members of the American Institute of CPAs have voted by an 81.39 percent majority to modernize the AICPA's admission requirements to allow more people to join the institute, even if they no longer practice accounting or were never practitioners.

The Financial Accounting Standards Board has issued an exposure draft of proposed changes in the standards for financial reporting about troubled debt restructurings.

Dutch financial markets regulator Hans Hoogervorst will succeed Sir David Tweedie as chairman of the International Accounting Standards Board next June when Tweedie retires from the most powerful and influential position in the accounting profession.

In February, the Securities and Exchange Commission issued a Commission Statement in which it made it clear that it believed that a single set of high-quality globally accepted accounting standards would benefit U.S investors, and in which it directed its staff to execute a workplan to help evaluate the impact IFRS might have on the securities market.

FASB RETOOLS STANDARDS FOR PENSION PLANS

The American Institute of CPAs’ Accounting and Review Services Committee made the most significant changes to compilation and review engagements in over 30 years with the issuance of Statement on Standards for Accounting and Review Services No. 19, Compilation and Review Engagements.

Norwalk, Conn. - The Financial Accounting Standards Board intends to host two public roundtable meetings to solicit input on private company accounting and reporting issues.