Audit & Accounting

Firms beef up security as the mobile workforce takes off

All puns aside, the cloud is finally living up to its promise

Financial Accounting Standards Board chairman Leslie Seidman and International Accounting Standards Board chairman Hans Hoogervorst appeared side by side at an American Institute of CPAs conference in early December to discuss what went awry in U.S. support for International Financial Reporting Standards.

The Public Company Accounting Oversight Board released a report in early December in which it identified widespread problems at eight major firms with their audits of internal control over financial reporting.

The Private Company Council held its inaugural meeting in early December to discuss how accounting standards should be adjusted for privately held companies.

Ten years on, SOX doesn't appear to be working

Accounting Today is in the midst of compiling its annual lists of the Top 100 Firms and Regional Leaders, and is looking for more top-notch accounting firms to consider.

The U.S. Justice Department opened an investigation relating to Autonomy Corp. after Hewlett- Packard Co. accused the software company of misrepresenting its performance before being bought last year.

The Financial Accounting Foundation, which oversees the Financial Accounting Standards Board and the Governmental Accounting Standards Board, is coming out in support of a proposal to create a new Accounting Standards Advisory Forum of international standard setters, but is balking at a requirement that participants need to make a commitment to International Financial Reporting Standards.

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