Audit & Accounting

IMGCAP(1)] During my first of two summers as an intern at Ernst & Young, I had the opportunity to go to a New York City high school with my fellow audit interns to teach students about financial planning processes. I had a flashback to my own high school experience at A. Philip Randolph High School in Harlem, New York City, where I had a wonderful mentor: Ms. Helise Owens of the Minds Matter program. She met with me every Saturday throughout high school to expose me to the possibility of higher education. She made a difference.

Sen. Charles Grassley, R-Iowa, has introduced a bill to lower the tax burden on small businesses.

Sageworks has released two new analytical procedure modules for auditing government entities, banks and other financial institutions.

Brown Smith Wallace said it has successfully completed all of its peer review examinations and received the best possible rating for its third consecutive review.

A new guidebook aims to help companies mitigate the risks of spreadsheets being misused for corporate fraud or causing multimillion-dollar reporting errors.

The Financial Accounting Standards Board has officially launched its FASB Accounting Standards Codification, an online interactive research tool that will serve as the single source of authoritative nongovernmental U.S. generally accepted accounting principles.

Deloitte & Touche has conducted a review for the Royal Canadian Mint to try to account for a $15.3 million discrepancy between a rolling inventory and a physical count of gold owned by the mint and its customers, and Goldfinger is apparently not to blame.

The Obama administration has sent legislation to Capitol Hill to create a new Consumer Financial Protection Agency.

The Private Company Financial Reporting Committee met to discuss topics ranging from revenue recognition to FIN 48-d and loan-loss contingencies.

Financial Accounting Standards Board Chairman Robert Herz refuses to accept the inevitability of another financial system collapse.