Audit & Accounting

The CPA Exam will be offered outside the U.S. for the first time in 2011, as an agreement was reached by the American Institute of CPAs, National Association of State Boards of Accountancy and Prometric, the three organizations that jointly offer the CPA Exam in the United States.

Sunday afternoon proved to be anything but sleepy as the American Institute of CPAs Fall Meeting of Council kicked off the first day with a lively discussion among members of the Blue Ribbon Panel on Standard Setting for Private Companies.

The American Institute of CPAs has told the Securities and Exchange Commission that accountants need an adequate transition period if the SEC decides next year to incorporate International Financial Reporting Standards into the U.S. financial reporting system.

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.