Audit & Accounting

Many may feel that enterprise risk management is a passing fad, but evidence shows otherwise.

Internet retailer Overstock.com has dismissed Grant Thornton as its auditor and opted to file an unaudited version of its third-quarter financials.

The Treasury Department and the Small Business Administration convened a Small Business Financing Forum in which they discussed ways to expand credit to small business.

Wayne Carnall, the chief accountant in the SEC’s Division of Corporate Finance, had some good advice to dispense to corporate accountants on keeping out of hot water with his department.

Financial Accounting Standards Board Chairman Bob Herz said the $64,000 question is, “Where are we going with IFRS?” as he described plans for FASB and the International Accounting Standards Board to work more closely on uniting U.S. GAAP with International Financial Reporting Standards.

Leaders of the American Institute of CPAs and the Center for Audit Quality registered strong objections to proposed legislation that would put banking regulators in control of U.S. accounting standards.

CROWE UNVEILS APP FOR ARRA

The Financial Accounting Standards Board has beefed up the disclosure requirements for some types of fair value measurements.

The former CFO of the American Cancer Society has formed her own CPA firm.

The International Accounting Standards Board has published a new standard on classifying and measuring financial assets to determine whether an asset should be measured at amortized cost or fair value.