Accounting standards

An overdue foreign invoice starts two clocks: one for financial reporting and one for recovery. Accountants can keep both moving.

The International Financial Reporting Foundation named Steven Maijoor as the next chair of the IFRS Foundation Trustees, and Sam Woods as chair of the International Accounting Standards Board.

UHY acquired Michigan CFO Associates in Clinton Township, Michigan, expanding the Top 50 Firm's advisory capabilities.

The Federal Accounting Standards Advisory Board is looking for a new leader to succeed its current executive director, Monica Valentine, who plans to retire at the end of this year after over 35 years at FASAB.

Sax acquired SFS Financial in Kinnelon, New Jersey, strengthening the Top 75 Firm's advisory capabilities.

Argentina is quickly becoming a promising offshoring destination, not just for the accounting profession, but for technology and other back-office services.

Crypto assets do not clearly meet the definitions of cash, financial instruments or inventory under GAAP, leaving preparers uncertain.

The International Auditing and Assurance Standards Board proposed revisions to three of its International Standards on Auditing.

Investment companies may need to reassess valuation policies, disclosures and financial reporting timelines if the proposal is finalized.

The Federal Accounting Standards Advisory Board released guidance on implementing the disclosure requirements for public-private partnerships.

The top two blockers to advisory growth aren't a lack of client demand — they're internal.

Deutsche Bank is seeking damages from four former senior employees who claim the lender wrongly blamed them for alleged involvement in an accounting scandal.

The Financial Accounting Standards Board decided during a board meeting to add a project on goodwill impairment testing to its technical agenda.

Plus, Workday touts new Financial Audit Agent; Cherry Hill Advisory launches AI-enabled internal audit services; and other accounting tech news and updates.

There was a time, not long ago, when bookkeeping firms were apprehensive of cloud solutions. Those days are fading for modern bookkeepers.

Client advisory services and outsourced accounting are helping the Bonadio Group, a Top 50 Firm based in Rochester, New York, build its client base.

Client expectations are evolving, and the firms that succeed will be those that adapt accordingly.

Compliance is necessary, but it has never been the thing that actually changes a client's trajectory.

New revelations about staff mishandling confidential client information deepen the crisis engulfing the scandal-hit firm.

The moves follow investor unease over Macquarie's hiring of KPMG, which has faced misconduct allegations in recent months.