Audit

The Financial Accounting Foundation’s board of trustees has reappointed Russell G. Golden to a second term as chairman of the Financial Accounting Standards Board and named two new members: Marsha L. Hunt, vice president and corporate controller at Cummins Inc., and Harold L. Monk Jr., a partner at the accounting firm Carr, Riggs & Ingram LLC.

The Financial Accounting Standards Board is planning to welcome new board members as the terms of several of its members end next year.

Mary Jo White has stepped to the front of the line of financial regulators moving aside for Donald Trump’s administration.

While putting the final touches on audit work papers and reports may feel like a huge relief, an auditor’s work isn’t finished.

Deloitte LLP and firm partner John Clennett got a record fine in the United Kingdom for misconduct after the U.K.’s accounting regulator said the audit and financial statements of Aero Inventory Plc fell short of acceptable standards.

The Financial Accounting Standards Board has issued a proposed accounting standards update for service concession arrangements, focused on determining the customer of the operation services.

The Financial Accounting Standards Board is refining the role of its Investor Advisory Committee to bring more of an investor perspective to the accounting standard-setting process.

Steve Ballmer is pretty bummed out about the election. A self-proclaimed "numbers guy," Ballmer said the truth is getting lost in the political rhetoric, and he wants to arm citizens with data to defend against lies by the campaigns. "Nobody seems to care about the facts," he said.

Top 6 Firm BDO USA brought on 15 new Securities and Exchange Commission audit clients in the third quarter, leading the auditor pack, while Hong Kong’s DCAW (CPA) Ltd. netted the most, with nine.

The New York State Society of CPAs has some recommendations for items that the Financial Accounting Standards Board should add to its to-do list.

Thomson Reuters has released Checkpoint Engage, an online audit solution.

The American Institute of CPAs’ Financial Reporting Executive Committee is asking for feedback on three new working drafts of guidance for broker-dealers and depository and lending institutions on the Financial Accounting Standards Board’s revenue recognition standard.

The Securities and Exchange Commission has appointed a new deputy chief accountant in the Office of the Chief Accountant, Marc A. Panucci, a partner in PwC’s national professional services group.

The International Accounting Standards Board has released its five-year work plan for International Financial Reporting Standards, with a focus on completing its insurance contracts standard and revising its conceptual framework.

Audit software provider AuditFile and business publishers John Wiley & Sons have jointly released a new version of AuditFile’s cloud-based audit program and automation solution.

Audit committees are increasing the amount of information they are giving investors on the actions they are taking to oversee their outside auditing firms, according to a new report.

BDO USA LLP is partnering with CoStar Group’s CoStar Real Estate Manager division to advise companies on complying with the lease accounting standard.

Check out the digital edition of the November issue of Accounting Today.

More than 125 institutional investors sued Tesco Plc, seeking in excess of 100 million pounds ($122 million) over the U.K. grocer’s 2014 profit overstatement.

Nearly one out of four internal auditors around the world face pressures to either suppress or change their audit findings, according to a new report.