Audit & Accounting

The Governmental Accounting Standards Board is working on developing new standards for state and local governments to use under its new chair, Joel Black, while responding to the novel coronavirus pandemic.

The board is considering a proposal aimed at reducing the cost and complexity for private companies when they need to decide on the fair value of the shares underlying a share-option award on its grant date or modification date.

The campaign looks to recognize auditors through videos, blog posts and other stories in order to "put a face to the auditors who play a significant role in keeping the capital markets functioning."

Mark Frissora will return nearly $2 million in incentive-based compensation to settle a U.S. regulator’s claims that he played a key role in causing the now-bankrupt car-rental company to file inaccurate financial statements in 2013.

FICPA welcomes next class to emerging leaders program; Anders adds St. Louis firm; and more CPA news.

Two major CPA firms, Baker Tilly and Squar Milner, are joining forces, with the combined firm likely to become one of the 10 largest accounting firms in the U.S. when the deal takes effect on Nov. 1.

Former Wirecard AG executive Jan Marsalek was added to Interpol’s red notice list, sparking a worldwide manhunt for one of the executives allegedly at the center of a multibillion-euro accounting scandal at the fintech company.

Payroll companies need guidelines on how to implement President Trump's executive order before they can start processing paychecks next month.

Internal audit departments are slowing down the adoption of next-generation technologies, such as artificial intelligence and machine learning, according to a new survey.

Among the pandemic-related issues covered are how to handle the Paycheck Protection Program and other stimulus efforts.