Audit & Accounting

The Financial Reporting Executive Committee of the American Institute of CPAs has issued seven working drafts covering issues related to revenue recognition.

The Center for Audit Quality published two new member alerts to help public company auditing firms quickly and proactively address potential risks.

Chesapeake Energy received a subpoena from the U.S. Department of Justice for information related to its asset purchase accounting practices.

The owner of a Houston-based business has pleaded guilty in a scheme that involved $13 million in false invoicing.

A group of advocacy organizations is urging the Financial Accounting Standards Board to require multinational companies to disclose more information about their taxes.

Audit committees are responsible for wading through the gray area in every company with respect to the law, best practices and business ethics.

The Financial Accounting Standards Board has issued a proposed accounting standards update for improving the financial reporting for long-term insurance contracts, including life insurance, disability income, long-term care and annuities.

An overwhelming majority of American investors are confident in the integrity of the U.S. capital markets, including audited financial reports and independent auditors, according to a new survey by the Center for Audit Quality.

The Financial Accounting Standards Board’s recent set of proposed technical corrections to its revenue recognition standard are a sign that more companies are getting serious about implementing them.

The oil and natural gas services company Weatherford International will pay a $140 million penalty to settle accounting fraud charges.