Accounting standards

Plus, Alight releases a payroll solution; Softrax releases a new revenue management solution; and other news from the world of accounting technology.

As PCAOB inspections in China move forward, U.S. auditors should use caution in engagements with Chinese-based companies.

Auditing firms have been relying increasingly on outside specialists for audit engagements since the Public Company Accounting Oversight Board unveiled a new standard governing their use.

Markus Braun's payment company collapsed under the weight of fraud allegations, wiping out billions in shareholder value.

The average number of critical audit matters per audit report has declined over time, while the proportion of audit reports that communicate only a single CAM has increased.

The results of CPA.com's third benchmarking survey reveal some key characteristics of successful client advisory services practices.

The board levied sanctions and fines totaling $7.7 million against three of KPMG's member firms in the U.K., India and Colombia.

The Institute of Internal Auditors sent a letter to lawmakers urging them to set new requirements for crypto exchanges in the U.S.

Auditing firms can expect enhanced inspections, strengthened enforcement and higher penalties, says Public Company Accounting Oversight Board Chair Erica Williams.

The board issued an ASU to improve accounting guidance for arrangements between entities under common control.

A fintech company that handles bookkeeping and accounting operations for small and midsized businesses has acquired a cloud-based bookkeeping service from KPMG.

The dramatic move comes in the wake of an investigation by prosecutors and Italy's market regulator into some of the club's balance sheets regarding alleged false accounting and market manipulation.

That's before a potential break-up of its auditing and consulting divisions takes effect, which could further ramp up a recruitment drive.

Accounting firm KPMG is expanding its Manchester presence with extra tech workers and a revamped office space with meetings at its core.

The next 12 months offer accounting firms lots of changes to rethink how they operate and reposition themselves to be more intentional about growth.

The Financial Accounting Standards Board is proposing a new chapter in its conceptual framework on recognition and derecognition of items in financial statements.

The Public Company Accounting Oversight Board proposed significant changes in the requirements for firms' QC systems, modernizing standards in place for decades.

The two organizations released a joint report on fostering the professionalization of the public finance workforce. 

The International Federation of Accountants named Asmâa Resmouki of Morocco as its first president from the Middle East and Africa and its third female president, to serve a two-year term.