Audit & Accounting

Organizations are struggling to understand the implications of environmental and social factors in their finances, operations and strategy, according to a new report from the Prince of Wales’s Accounting for Sustainability Project.

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KPMG International announced annual combined revenues of $23.03 billion for the fiscal year ended Sept. 30, 2012, a 4.4 percent increase in local currency terms over the previous year, and a 1.4 percent increase in U.S. dollar terms.

Montreal-based Richter, formerly RSM Richter Chamberland, merged with Toronto-based SBLR LLP Chartered Accountants.

The Financial Accounting Standards Board and the Center for Audit Quality issued a summary Wednesday of observations from two forums on disclosure effectiveness.

President Barack Obama reduced his demand for tax increases to $1.4 trillion from $1.6 trillion as he and House Speaker John Boehner traded another round of offers and inched toward a budget agreement.

A new report from the Institute of Chartered Accountants in England and Wales urges the International Accounting Standards Board to “end the era of convergence,” and give all listed companies around the world the option of applying International Financial Reporting Standards.

Pannell Kerr Forster of Texas PC will now provide consulting services to businesses looking to file economic loss claims as part of a class action suit, such as the Deepwater Horizon oil spill.

The majority of chief audit executives anticipate that the resources and budgets for their internal audit departments will either increase or stabilize next year, according to a new survey.

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