Audit & Accounting

Ex-American International Group Inc. Chief Executive Officer Maurice “Hank” Greenberg admitted to taking part in two deals to make the insurer’s financial condition look better than it was as part of a $9.9 million settlement with New York that has dragged out for almost a dozen years, the state’s top lawyer said.

The number of changes facing the accounting profession will leave most practices radically altered in the near future, according to Barry Melancon, the president and CEO of the American Institute of CPAs.

Corrado Sciolla quits as the fallout from the British phone carrier’s Italian unit spreads.

Institute of Internal Auditors leader has published a new book on how members of his profession can become trusted advisors.

Intuit’s exec Angela Camp and National Consumers League VP John Breyault appointed to the Electronic Tax Administration Advisory Committee.

Chris Henkel of Moody's Analytics discusses in this video how companies will be adjusting their processes to comply with FASB's new current expected credit loss model for financial instruments accounting.

The Ernst & Young global network’s member firm charged with audit failure, noncooperation, and violations of quality control standards.

Chris Henkel of Moody's Analytics discusses in this video how FASB's new standard on current expected credit losses could affect the assets and loans on a company's financial statements.

A wide range of accounting and financial executives are tasked with evaluating what adjustments will need to be made and what new procedures will need to be put in place to handle the change.

Chris Henkel of Moody's Analytics explains in this video how FASB's new financial instruments standard on loan losses might apply to financial institutions of different sizes.