Audit & Accounting

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.

The International Accounting Standards Board has proposed changes in the standards for presenting items under other comprehensive income.

President Barack hosted a group of award-winning small business owners from around the country in the White House Rose Garden and used the occasion to prod Congress to pass the administration’s Small Business Jobs Package.

The Financial Accounting Standards Board has issued an eagerly anticipated exposure draft of a proposed accounting standards update for financial instruments, a major sticking point in FASB’s efforts to converge U.S. GAAP with International Financial Reporting Standards.

Barry Melancon has been president and CEO of the American Institute of CPAs since 1995. Under his leadership, the AICPA has spearheaded a number of initiatives to benefit the profession and the general public, including private company reporting standards and 360 Degrees of Financial Literacy. He is a member of the AICPA’s delegation to the International Federation of Accountants, chairman of XBRL-US, vice chairman of the Center for Audit Quality, and a founding board member of the Global Accounting Alliance. He serves on the board of the U. S. Chamber Center for Capital Markets Competitiveness.

House Financial Services Committee Chairman Barney Frank, D-Mass., said he anticipates an exemption for small and midsized public companies from Sarbanes-Oxley Section 404(b) requirements for independent audits of their internal controls to remain in the final version of the financial regulatory reform bill.