Audit & Accounting

The Association of Chartered Certified Accountants has released a new report urging businesses to focus more on their ethical responsibilities and prioritize the recruitment of senior executives and financial staff with strong ethical compasses.

The Financial Accounting Standards Board and the International Accounting Standards Board said they intend to prioritize the major convergence projects ahead of them as they try to reach the goal of melding U.S. and international accounting standards, with some projects pushed back further next year.

The American Institute of Certified Public Accountants has told the Internal Revenue Service it should withdraw its proposed rule that would require companies with more than $10 million in total assets to disclose uncertain tax positions on a new schedule.

The American Institute of CPAs’ Peer Review Board has released an exposure draft containing proposed revisions to the guidance for the standards governing CPA firm peer reviews.

Organizations worldwide lose an estimated 5 percent of their annual revenues to fraud, potentially amounting to over $2.9 trillion, according to a new study.

Goodwill impairments at U.S.-based companies fell dramatically last year, according to a new study.

The Public Company Accounting Oversight Board has released updated staff guidance to help accounting firms outside the U.S. to register with the board even if their countries do not allow the PCAOB to inspect them or answer some of the questions on a PCAOB application form.

Check out the digital edition of the June 7-20, 2010 issue of Accounting Today.

The Federal Trade Commission has further delayed enforcement of the so-called “Red Flags” Rule for identity theft prevention until Dec. 31, while Congress considers legislation that would affect the scope of entities covered by the rule.

The California Society of CPAs has honored seven CPAs with its Women to Watch Awards at its recent Women's Leadership Forum here.