Accounting standards

Rio Tinto Group’s calamitous $3.7 billion coal deal in Mozambique keeps coming back to haunt the world’s second-biggest miner, three years after it unloaded the mine.

A group of seven Senate Democrats and one independent has written a letter to the Financial Accounting Standards Board asking FASB to require multinational corporations to disclose their taxes, profits, and revenues on a country-by-country basis, echoing a recent letter from a group of House lawmakers.

Companies and their auditors are getting ready for the Public Company Accounting Oversight Board’s new audit reporting model, despite uncertainty over whether the Securities and Exchange Commission will approve the new standard.

The Public Company Accounting Oversight Board will be looking out for some major risk areas at audit firms in the months ahead.

Last quarter, General Electric Co. reported earnings of 28 cents a share. Also 13 cents a share, 19 cents a share and 15 cents a share—all at the same time.

Fayezul Choudhury, CEO of the International Federation of Accountants, discusses how IFAC is helping emerging economies develop their associations for accountants.

SASB’s Jean Rogers discusses the board’s coming set of standards.

Two alerts spotlight some potential risks facing firms during the 2017 audit cycle.

The elimination of Step 2 in FASB's goodwill impairment test may result in more frequent reporting of impairment, as well as a change in the magnitude of the impairment charge.

KPMG LLP’s South African unit appointed nine new executives in an attempt to restore trust in the auditing firm as clients continued to distance themselves over its involvement with the politically connected Gupta family.

A staff alert highlights the board’s requirements for auditors, among other things.

An internal probe found that mistakes in two high-profile engagements did not run throughout its business.

The report is part of IASB’s better communication in financial reporting initiative.

PricewaterhouseCoopers reported 7 percent revenue growth worldwide Wednesday for fiscal year 2017, reaching a record $37.7 billion.

This brings the number of hand-picked app partners to 11.

The Financial Accounting Standards Board published a proposed accounting standards update Tuesday to clarify and get rid of some specific inconsistencies in key parts of GAAP.

South Africa’s auditing regulator said KPMG LLP’s local unit hasn’t fully cooperated with the body’s investigations into work done for the Gupta family, who are alleged to have used political connections to win state contracts.

In the first of a series of articles, Profs. Miller and Bahnson explore a new paradigm for corporate reporting.

Paul Becht, a partner at Top 100 Firm Margolin, Winer & Evens, discusses FASB’s new leasing standard and how it will affect the real estate industry and other sectors.

KPMG International has chosen Bill Thomas as chairman of the global network for a four-year term, succeeding John Veihmeyer, who is retiring after completing his term.