Audit & Accounting

Washington, D.C. - In a case that carries the potential to reshape the regulatory landscape of the accounting profession, the U.S. Supreme Court last month heard oral arguments in a lawsuit challenging the constitutionality of the Public Company Accounting Oversight Board - with several justices appearing to take the plaintiffs' side in the case.

KPMG’s Audit Committee Institute has provided a list of the top 10 “to-do’s” for audit committee members this year.

Call it what you like, but the first decade of the millennium has passed with many a whimper.

The Governmental Accounting Standards Board has issued final standards on postemployment benefits and municipal bankruptcy.

Public companies in Argentina will be required to adopt International Financial Reporting Standards starting in 2012.

The California Board of Accountancy is requiring CPAs licensed in California to take additional ethics education classes starting in the New Year, and all accounting firms in the state will be subject to peer review.

The Financial Accounting Standards Board has issued a proposed accounting standards update on its subsequent events standards, amending certain recognition and disclosure requirements to avoid a conflict with the SEC.

Overstock.com has engaged KPMG as its new outside auditor, but not without a parting shot at its previous auditing firm, Grant Thornton.

Everybody has to have a Top 10 list around the New Year, and looking back over the past year, we found that WebCPA readers clicked the most on stories about taxes and accounting firm rankings.

Business consulting and internal audit firm Protiviti has begun publishing “Board Perspectives: Risk Oversight,” a new monthly newsletter aimed at corporate boards of directors.