Audit & Accounting

The accounting profession stayed confident about the direction of the economy this month, according to the July edition of Accounting Today’s monthly Accountants Confidence Index.

The Financial Accounting Standards Board has named James L. Kroeker, former chief accountant for the U.S. Securities and Exchange Commission, as a member and vice chairman.

Gaylen Hansen, chairman of the National Association of State Boards of Accountancy, discusses the services that NASBA is offering to state boards in an interview with Accounting Today editor-in-chief Daniel Hood.

The Tennessee State Board of Accountancy has adopted a resolution officially recognizing the American Institute of CPAs’ recently issued Financial Reporting Framework for Small and Medium-sized Entities, apparently the first state board to do so.

The Public Company Accounting Oversight Board posted an updated list of firms Monday that have registered with the PCAOB, but have not yet been inspected, even though four or more years have passed since they issued an audit report while registered.

The International Accounting Standards Board has published for public comment a discussion paper exploring possible changes to the IASB’s Conceptual Framework for Financial Reporting.

The United Kingdom’s Competition Commission has issued a provisional decision recommending that companies put their auditing work out for bid every five years to promote competition in the audit profession.

Internal auditors around the world are bearing the brunt of a quickly changing regulatory landscape, especially in financial services, according to a new survey by Thomson Reuters.

ALABAMA

The Institute of Internal Auditors wrapped up its annual conference in Orlando this week, featuring prominent keynote speakers including former Secretary of State Madeleine Albright and best-selling business writer Tom Peters.