Audit & Accounting

The National Association of State Boards of Accountancy has promoted Ken Bishop to the job of chief operating officer.

A district court has granted a delay in the enforcement of the Federal Trade Commission’s Red Flags Rule governing identity theft prevention for members of the American Institute of CPAs in public practice.

A class-action lawsuit by former shareholders of Lehman Brothers has been amended to add the defunct investment bank’s auditing firm, Ernst & Young, as a defendant.

XBRL US and the Financial Accounting Foundation have inked a three-year agreement to conduct joint research on further developing interactive data tags for financial statements.

The Center for Audit Quality, the CFA Institute, and the Council of Institutional Investors have written to leaders of the Senate Banking Committee asking them not to exempt smaller public companies from Sarbanes-Oxley internal controls audit requirements in the financial regulatory reform legislation.

New research has raised doubts about the ability of auditors to ferret out earnings management.

The Institute of Internal Auditors’ Internal Audit Standards Board has proposed several changes to the standards for internal auditors, including what should happen when giving an opinion on an audit, and the role of outsourced service providers.

The American Institute of CPAs is keeping a close watch on financial reform legislation as the Senate is expected to begin debate on the bill within the next week.

Americans seem to hold a generally favorable view of accountants, according to a new survey.

SEC APPROVES PCAOB FOREIGN INSPECTION DELAY