Audit & Accounting

At least a dozen major nations – including several of the USA’s top international trading partners – are continuing to slam the door on efforts by the Public Company Accounting Oversight Board to conduct cross-border inspections of non-U.S. audit firms as required by the Sarbanes-Oxley Act.

President Barack Obama has called for expanding the size of loans made through the Small Business Administration’s SBA Express program from $350,000 to $1 million.

iia, auditors, sec, proxy, disclosure

The Financial Accounting Foundation has a new responsibility: ongoing maintenance of the U.S. GAAP Financial Reporting Taxonomy in the new data-tagging format mandated by the SEC.

The National Notary Association has published a much-anticipated revision of its Model Notary Act with fraud deterrence, identity theft, and electronic document protection rules, to improve the standards of care for notaries.

Fraudulent acts by employees and outsiders have risen since the beginning of the recession, and internal auditors predict the trend will continue through the rest of the year, according to a new poll of nearly 300 chief audit executives by the Institute of Internal Auditors.

The Public Company Accounting Oversight Board has launched a redesigned and expanded Web site.

The International Public Sector Accounting Standards Board has published a new standard that covers the accounting for and disclosure of intangible assets: IPSAS 31, “Intangible Assets.”

Ernst & Young has released a new report focusing on carbon emissions management, encouraging companies to address climate change issues in their business strategies.

The Securities and Exchange Commission voted to issue interpretive guidance on how public companies should disclose any business and legal developments related to climate change.