Audit & Accounting

The Governmental Accounting Standards Board is working on several fronts to offer relief to state and local governments and other stakeholders in the midst of the pandemic, including delaying the effective date of some standards.

Even as they still have to deal with tax season, the service is tasked with handling much of the stimulus packages.

Chief financial officers are playing a key role in helping their companies cope with the fallout from the coronavirus pandemic and the economic devastation it’s causing, according to officials from the Institute of Management Accountants.

The accounting scandal at Starbucks Corp.’s biggest competitor in China triggered a rout in shares linked to the company’s chairman, wiping out most of his wealth and knocking the tycoon out of the ranks of China’s billionaires.

The Governmental Accounting Standards Board published guidance to help state and local governments transition move to newer reference rates that are less prone to market manipulation.

The Financial Accounting Standards Board will be meeting next week to discuss the impact of the novel coronavirus pandemic on its stakeholders, including pushing back the effective dates of some of its upcoming accounting standards.

KPMG and one of its senior partners have been reprimanded and fined 455,000 pounds ($560,000) for failings in its audit of a U.K. company, the latest sanction against the Big Four auditor in recent years.

A better audit isn’t measured by the number of forms completed.

Blockchain explorers share their real-life experiences.

The two accounting associations have signed a letter of intent to merge, effective Sept. 1, 2020.