Audit & Accounting

The Government Accountability Office recommended in a new report that the Securities and Exchange Commission should consider requiring public companies where applicable to explicitly disclose whether they obtained an auditor attestation of their internal controls.

New websites, scholarships, food drives and more…

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The Governmental Accounting Standards Board has issued for public comment a proposed statement regarding the transition provisions of GASB’s new pension standards for state and local governments with the goal of eliminating a potential source of understatement of restated beginning net position and expense in a government’s first year of implementing GASB’s new pension accounting standards.

The Financial Accounting Standards Board and the International Accounting Standards Board plan to host a series of joint public roundtable meetings on different continents to discuss their revised joint proposals on leasing standards that were published in May.

The Securities and Exchange Commission’s enforcement division is launching three new initiatives to combat financial reporting and microcap fraud and enhance its risk analysis capabilities with the use of sophisticated analytical technology.

A former senior KPMG LLP partner, Scott London, pleaded guilty to leaking confidential information about the audit firm’s clients to a friend who made more than $1 million trading on the inside information.

The Financial Accounting Standards Board has issued for public comment three proposals to address the concerns of private companies about accounting for intangible assets acquired in business combinations, goodwill, and certain types of interest rate swaps under U.S. GAAP.

Intacct has added new resource scheduling capabilities and other enhancements to Intacct Project Accounting designed to automate both project accounting and project delivery within the financial system of record.

The Financial Accounting Foundation launched an updated website Monday in conjunction with new leaders at the two standard-setting boards it oversees, the Financial Accounting Standards Board and the Governmental Accounting Standards Board, while also reviving an old dispute with the American Institute for CPAs over financial reporting standards by private companies.