Accounting standards

Extensible Business Reporting Language, the data-tagging code now required by the Securities and Exchange Commission for filing financial statements, has been making headway not only in the U.S., but in other parts of the world.

CPA Ireland is absorbing the membership of the Institute of Incorporated Public Accountants as two of Ireland’s largest accounting professional bodies agreed to a permanent collaboration.

Users get access to a dedicated bookkeeper and multiple service options.

The American Institute of CPAs has issued a new guide to help accountants provide assurance on their corporate clients’ environmental information.

The Center for Audit Quality and the Securities and Exchange Commission Historical Society are celebrating the 15th anniversary of the passage of the Sarbanes-Oxley Act with a series of videos featuring commentary from several accounting, finance and auditing experts.

The Public Company Accounting Oversight Board is disciplining Crowe Horwath’s member firm in Hong Kong for refusing to turn over audit work papers.

The automated bookkeeping tool uses AI to pull data from document images, inputting it directly into the cloud-based financial analysis and accounting tool.

The American Institute of CPAs has released a new standard that provides guidance to auditors about their responsibilities when auditing securities exempt from registration under the Securities Act of 1933 and franchise offerings known as exempt offerings.

With the new revenue recognition standard taking effect next year, companies and their investors are bound to see some dramatic changes in the topline numbers being reported.

A group of 16 House Democrats has sent a letter to the Financial Accounting Standards Board asking it to require multinational companies to disclose more country-by-country reporting information in their public financial statements about where they pay taxes and book profits.

Data management software plays a key role in getting ready for the upcoming new accounting standard.

Extensible Business Reporting Language is starting to become more widely used, thanks to the SEC’s rules requiring the use of XBRL in financial filings in recent years and a new rule requiring XBRL for foreign issuers.

The Financial Accounting Standards Board has released an accounting standard update aimed at simplifying the accounting for financial instruments that have so-called “down round” features.

The Governmental Accounting Standards Board has proposed new guidance to clarify debt-related disclosures in notes to financial statements, including disclosures pertaining to direct borrowings and direct placements, for state and local governments.

The Private Company Council discussed the implementation costs of cloud computing during a meeting Tuesday and is asking its associated organization, the Financial Accounting Standards Board, to provide guidance on how to account for those costs.

Starting last month, audit firms must now disclose the names and locations of other auditors participating over a certain percentage of the audit of public companies.

The Association of Chartered Certified Accountants reported a 5.5 percent increase in membership over the past year as it faces renewed competition from the AICPA.

Organizations are finally starting to prepare for the new lease accounting standard that will be taking effect in 2019, but as they do they’re running into some unexpected complexities.

The American Institute of CPAs’ Financial Reporting Executive Committee has released several more working drafts of industry-specific guidance related to various implementation issues involving the revenue recognition standard and is asking for feedback on them.

Moses Kgosana, who withdrew from taking the post as chairman of Alexander Forbes Group Holdings Ltd. in the wake of allegations related to his tenure as chief executive officer and senior partner at KPMG South Africa, said he offered to step aside from the position.