Audit & Accounting

PUBLIC SECTOR STANDARDS BOARD PUBLISHES HANDBOOK

SUPREME COURT NIXES TEXTRON APPEAL

The International Accounting Standards Board has published a proposed set of changes in the accounting standards for financial liabilities to address what it calls the "counter-intuitive" effects of fair value measurement.

Trust in financial institutions has been severely eroded by the financial crisis, but a new survey has found that the majority of Americans find statements by spokespeople from accounting firms believable.

According to the ancient legend of the Gordian Knot, whoever could untangle its complicated strands would rule the world.

Lawsuit insurance

The Public Company Accounting Oversight Board has published new guidance about the recent requirement for accounting firms to file annual reports about their audit clients, fees, staff disciplinary histories and other information.

The U.K.’s Accountancy and Actuarial Discipline Board has begun an investigation into the conduct of Ernst & Young LLP as auditors to Lehman Brothers International Europe, including Lehman’s use of repurchase agreements.

McGladrey & Pullen mourned the death of retired partner Ray Krause, who spent about four decades with the firm.

.A new set of standards will allow accountants to explain exactly why their independence may have been impaired when performing compilation services for clients.