Accounting standards

A former employee of U.K. tech mogul Mike Lynch's Autonomy Corp. told jurors at his U.S. criminal trial that she and one of her higher-ups were both fired after flagging concerns about accounting irregularities.

The Public Company Accounting Oversight Board sanctioned an Israeli auditor and her firm for violating the PCAOB's rules in several audits, imposing a $200,000 penalty.

PICPA believes the PCAOB's Non-Compliance with Laws and Regulations proposal is disconnected from the realities of the auditing profession and will impose undue strain on an already thinly stretched workforce of CPAs.

Big Four firm Deloitte is looking to overhaul its structure to cut costs ahead of a market slowdown, according to the Financial Times.

The International Accounting Standards Board hopes to enhance the information provided by companies to their investors about acquisitions under IFRS.

This new standard changes the game for auditors to make risk assessments even more effective.

The Praxity Alliance of independent accounting firms reported revenue of $9.7 billion in 2023, an 11% increase over 2022 at constant exchange rates.

The firm will make 329 roles redundant, while as many as 37 partners will be accelerating their retirement over the next nine months.

The internal audit function is gaining more people and funding, according to a new survey released Monday.

The Financial Reporting Council is considering either Canary Wharf or Stratford for its new main office.

The stock rose as much as 22% in Madrid on Friday after Spanish plasma maker published its annual consolidated accounts with an unqualified opinion from KPMG.

Experts believe this guidance will spur more institutions to embrace digital assets, as the rules for proper accounting are more clear-cut.

Are client advisory services the future of accounting?

The Top 100 Firm also announced the first three member firms of the network, which will focus on food and agriculture clients.

The Chicago-based agricultural commodity trader said the issue with internal controls relates to the way it reports sales between segments.

KPMG and its partner Adrian Wilcox failed to audit the advertising agency with sufficient professional skepticism, according to the Financial Reporting Council.

A roundup of the flood of sanctions, fines and penalties issued over the past year or so by the PCAOB.

Despite suggestions to the contrary, audits remain valuable and serve a grander purpose.

The Financial Accounting Foundation is reviewing the effectiveness of the Private Company Council, the group that advises the Financial Accounting Standards Board about the perspective of privately held companies.

The Public Company Accounting Oversight Board is proposing a new rule to prevent auditing firms from making false or misleading statements about being registered or overseen by the PCAOB.