Accounting standards

The Governmental Accounting Standards Board released a new standard to improve the financial reporting for state and local governments on subsequent events.

Nine organizations wrote to the Department of Education expressing opposition to rules excluding accounting from recognition as a professional degree program.

The Institute of Internal Auditors has released its latest "topical requirement," this time on organizational behavior as part of a company's culture.

The Financial Accounting Foundation's board of trustees appointed 13 new members to the Financial Accounting Standards Advisory Council.

The International Sustainability Standards Board issued amendments to greenhouse gas emissions disclosure requirements in IFRS S2 Climate-related Disclosures

Growth was led by tax (7%) and advisory (4%), followed by audit and assurance (3%) and business services outsourcing (2%).

Pilot's Local Partner Program provides software and automation capabilities, as well as advisory services and sales enablement tools, to independent bookkeepers and accounting firms.

The Securities and Exchange Commission is planning to encourage greater cooperation between U.S. and international standard-setters.

The accounting standards update aims to improve the navigability of interim reporting disclosures while clarifying when that guidance should be applicable.

The Public Company Accounting Oversight Board sanctioned U.S.-based TPS Thayer for failure to reasonably supervise an unregistered firm in China.

The Financial Accounting Standards Board issued an accounting standards update with guidance on accounting for government grants to business entities.

The new accounting model would reflect how financial institutions manage interest rate risks in their portfolios.

The Financial Accounting Standards Board issued a new accounting standards update aimed at improving its existing hedge accounting guidance.

Another downgrade by Moody's hit the manufacturer of mini motors' stock price.

The 2016 standard on leases met its objective of providing investors with useful information, but the costs of implementing and maintaining it were high.

The Financial Accounting Standards Board decided to add a project to its technical agenda related to the accounting for cryptocurrency asset transfers.

The Public Company Accounting Oversight Board has made a pact with Lithuania's audit regulator to allow the two organizations to cooperate on overseeing firms.

The International Accounting Standards Board discussed adding new projects to its agenda, along with ongoing work on the equity method and intangible assets.

Audit and advisory leaders are working to implement AI solutions, but major hurdles mean that most professionals remain largely dependent on manual processes.