Audit & Accounting

Grant Thornton has sent a letter to federal officials proposing that banking regulators adjust capitalization requirements to take into account the broader economic environment.

The International Public Sector Accounting Standards Board has proposed new guidance to deal with the wave of government takeovers of private businesses.

Two thirds of the 500 largest public companies are prepared to begin using interactive data-tagging technology to file their financial statements, according to a new survey.

The Center for Audit Quality has released a new guidebook to explain to investors, managers and other interested parties the important role played by auditors of public companies.

PNC Equity Partners II LP has acquired Apex Analytix, a firm that provides recovery audit services to more than a third of the Fortune 100.

The Ohio Society of CPAs is teaming up with the U.S. Department of Labor to improve the quality of audits of employee benefit plans in the Buckeye State.

Norwalk, Conn. - Governments have always found it difficult to properly report fund balances when the uses of various fund amounts were restricted in a number of ways. A dollar that couldn't be spent did not combine well with a dollar that could only be spent for a specific purpose, or a general fund dollar that could be spent without constraint.

The Financial Accounting Standards Board issued a summary of the board's actions when it modified the standards for fair value and mark-to-market accounting in response to congressional demands:

Among the tragedies inflicted on thousands of victims by Bernard Madoff was that perpetrated on a tiny accounting firm in New City, N.Y., a hamlet some 30 miles north of New York City.

The realities of volatile capital markets and a struggling global economy confront management decision-making at every turn. In recent years, the challenge of managing costs has become increasingly complex, due, in part, to relentless competition, complex global operations, compliance, efficiency imperatives, proliferating risks and the sheer speed of change.