Audit & Accounting

The Public Company Accounting Oversight Board has scheduled a meeting for next Tuesday to consider proposing for public comment a new auditing standard and related amendments to enhance the auditor’s reporting model.

The Financial Reporting Council, the United Kingdom’s standard-setter for accounting, auditing and actuarial work, announced two separate investigations this week into Grant Thornton U.K.’s work with two audit clients, beverage maker Nichols plc., and mortgage lender the Manchester Building Society.

The Financial Accounting Standards Board issued for public comment Wednesday a proposal that would define a public business entity.

Nonprofit accounting software maker Blackbaud has released Blackbaud MobilePay, a mobile credit card processing application that is integrated with the company’s payment processing services.

The Public Company Accounting Oversight Board has released its latest inspection report on Ernst & Young after the New York-based firm failed to address certain quality control issues to the satisfaction of the PCAOB.

Governmental Accounting Standards Board chairman David Vaudt and Financial Accounting Standards Board chairman Russell Golden discuss how they are working together on initiatives such as leasing and pension standards, communicating about accounting standards in a more understandable way, and reaching out to key stakeholders for input, in a joint interview with Accounting Today editor-in-chief Daniel Hood.

Public Company Accounting Oversight Board member Jeanette Franzel told a group of accounting educators that lack of professional skepticism is one of the main reasons for the prevalence of audit weaknesses found in the PCAOB’s inspections of the work of auditing firms.

Governmental Accounting Standards Board chairman David Vaudt talks about his plans as GASB's new leader and the board's agenda for pension standards, post-employment benefits in the retiree health care area, and the need to provide useful information for elected officials and government policymakers, in an interview with Accounting Today editor-in-chief Daniel Hood.

New international membership, partnerships and more ...

Xero signed an integration deal with ConnectWise, a developer of service management software designed exclusively for IT service providers, VARs, ISVs and MSPs, in order to synchronize accounting data between ConnectWise and Xero.