Audit & Accounting

The typical organization loses 5 percent of its revenue to fraud each year, according to a new report from the Association of Certified Fraud Examiners.

One out of three internal audit departments worldwide are now outsourcing at least some of their work to a third party, according to a new study.

Securities class-action lawsuits, including claims against auditing firms, have reached a five-year high, according to a new report.

The Governmental Accounting Standards Board has issued recognition and measurement guidance for state and local governments that benefit from irrevocable split-interest agreements.

More than 80 percent of nonprofits anticipate growth and increased revenues in 2016, according to a new survey.

The Sustainability Accounting Standards Board has launched an Advisory Partner Program to encourage corporate and investor application of SASB's standards and guidance on sustainability accounting.

The International Auditing and Assurance Standards Board has released ISA 810 (Revised), Engagements to Report on Summary Financial Statements.

The new lease accounting standard is likely to have a much greater impact on lessees than lessors.

The Governmental Accounting Standards Board has issued implementation guidance containing questions and answers to clarify some of its recent standards.

The American Institute of CPAs plans to e-mail out ballots to CPAs the week of April 18, immediately after tax season, to vote on a proposal to set up an Association of International CPAs in partnership with the London-based Chartered Institute of Management Accountants.