Audit & Accounting

AICPA president and CEO Barry Melancon is calling for the Financial Accounting Foundation to set up a separate standards board for private company accounting.

IMGCAP(1)]Check out the digital edition of the October 11, 2010 issue of Accounting Today.

The American Institute of CPAs has sent the Financial Accounting Standards Board a letter criticizing FASB’s proposal to account for nearly all financial instruments at fair value.

Internal auditors who combine likable personality traits with well-presented arguments do better at influencing managers’ accounting judgments and financial reporting estimates than auditors who are rude and provide information in a jumbled way, according to a new study.

IMGCAP(1)]Check out the digital edition of the October 11, 2010 issue of Accounting Today.

The Tax & Accounting business of Thomson Reuters has released a revised edition of “PPC’s Guide to Compilation & Review Engagements” to help practitioners comply with recent accounting standards.

The Public Company Accounting Oversight Board has released a report summarizing the types of problems its inspectors encountered at auditing firms in the wake of the economic crisis.

Wayne Carnall, chief accountant of the Securities and Exchange Commission’s Division of Corporate Finance, has been seeing so many hits on the SEC’s website lately that he’s comparing the agency to pop sensation Lady Gaga.

The Institute of Chartered Accountants in England and Wales has told the U.S. Financial Accounting Standards Board that FASB’s proposed rules for financial instruments accounting would make financial statements harder to understand and complicate the convergence process.

The Financial Accounting Standards Board and the International Accounting Standards Board have completed the first phase of a joint project to develop an improved conceptual framework for future accounting standards.