Accounting standards

The serious new pressures facing governments of all sizes are changing their financial reporting, says GASB Chair Joel Black.

The Governmental Accounting Standards Board added several items to its research agenda, but decided against adding a project on cybersecurity disclosures.

Plus, Suralink introduces Workpaper Suite Intelligence; Xero announces Xero Coaches; and other news and updates from the accounting tech world.

Officials discussed the SEC's proposal for a semi-annual reporting option along with new accounting standards at a Baruch College conference.

The Public Company Accounting Oversight Board posted updates to its projects as it waits for public comments on its 2026-2030 strategic priorities.

Plante Moran will expand into Mexico as JA Del Río joins the firm, effective July 1.

The Federal Accounting Standards Advisory Board exposure draft offers a practical expedient for reporting on embedded leases in federal government contracts.

The Institute of Internal Auditors is calling on lawmakers and policymakers to strengthen their oversight of prediction markets such as Kalshi and Polymarket.

A lender that owns the auto parts supplier's debt sued BDO USA alleging it failed to detect problems before the company collapsed into bankruptcy.

The International Financial Reporting Standards Foundation revised its Due Process Handbook, outlining the steps used for developing IASB and ISSB standards.

KPMG is shutting down its audit practice for the federal government after losing a Pentagon contract, and laying off 4% of its U.S. advisory practice.

Kreston Global, an international accounting network based in London, has created a new Global Legal Group, uniting legal professionals from across the network, operating in coordination with the network's Global Tax Group.

The deal, expected to close later this year, will expand Grant Thornton's presence in the Asia Pacific region.

The International Public Sector Accounting Standards Board hopes to improve how financial information is presented in public sector financial statements.

The Financial Accounting Standards Board added a project to its technical agenda to allow insurance companies to use the "portfolio layer method" when doing hedge accounting on their financial liabilities.

The International Public Sector Accounting Standards Board proposed a set of narrow changes to align them with recent guidance from the IASB.

The rapidly changing profession leaves firms with a host of challenges — and opportunities.

U.S. and South African accounting organizations extended a mutual recognition agreement through mid-2031, allowing accountants to practice in both countries.

The accounting standards update offers guidance on how an issuer should initially measure paid-in-kind dividends on equity-classified preferred stock.