Audit & Accounting

The International Federation of Accountants has released a Guide to Compilation Engagements to help accountants in small and midsize practices.

The Sustainability Accounting Standards Board has issued provisional standards for eight more industries.

The Financial Accounting Standards Board has issued for public comment two exposure drafts related to materiality and its Disclosure Framework project with the goal of making financial disclosures more effective.

The Securities and Exchange Commission announced that it has approved the renewal of its Advisory Committee on Small and Emerging Companies.

“Goodfellas” producer Irwin Winkler filed a lawsuit against Warner Bros. Entertainment, claiming the studio reported the movie lost money to pocket the millions of dollars he’s owed.

The International Accounting Standards Board proposed temporary measures to address worries over conflicts between a standard that has been issued, and another that isn’t due for a year.

The Securities and Exchange Commission has charged the Jacksonville, Fla.-based retail chain Stein Mart Inc. with materially misstating its pre-tax income due to improper valuation of inventory subject to price discounts and for having inadequate internal accounting controls.

Approximately 1,100 public companies changed their audit firms in 2014, a number approximately the same as in 2013, although one company managed to change its audit firm three times last year while another changed its audit firm for the first time since 1890.

Deloitte reported Tuesday its global annual revenues reached $35.2 billion in fiscal year 2015, a 7.6 percent growth rate in terms of local currency.

PricewaterhouseCoopers has released a useful report demonstrating the many differences that remain between U.S. GAAP and International Financial Reporting Standards.