Accounting standards

The Governmental Accounting Standards Board is focusing on advancing its digital financial reporting taxonomy.

The Public Company Accounting Oversight Board voted to adopt new requirements to report on various metrics for the firm and its engagements.

Gabriela Figueiredo Dias has been reappointed for a second term through 2026, at the International Ethics Standards Board for Accountants.

The U.S. Defense Department failed for the seventh straight year to score a clean financial audit, highlighting the challenge of tracking the finances of a sprawling organization that has some $3.8 trillion in assets and $4 trillion in liabilities.

The Financial Accounting Standards Board issued a proposed accounting standards update to establish authoritative guidance on the accounting for government grants received by business entities.

The guide can help companies identify and disclose material information about sustainability-related risks and opportunities that could affect their cash flow.

Facing a backlash about its proposal to toughen standards for failing to detect noncompliance with laws and regulations, the board is putting off action on the standard.

Being careless in a company's early years can make it hard to change from non-GAAP to GAAP standards when preparing for an IPO, sale or other exit.

The invitation to comment requests input on financial key performance indicators such as EBITDA and free cash flow and how they should be treated.

The rule change addresses situations in which a firm has ceased to exist, is nonoperational or no longer wishes to remain registered.