Audit

GASB issued an exposure draft of a proposed implementation guide on the requirements of GASB Statement No. 74, "Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans."

Comedian Harry Shearer is suing the company that owns the rights to “This is Spinal Tap,” claiming that it has shortchanged the film’s creators through fraudulent accounting.

The Public Company Accounting Oversight Board announced a cooperative agreement with the audit regulator of Finland, the Finnish Patent and Registration Office.

The trustees of the IFRS Foundation, which oversees of the International Accounting Standards Board, have appointed Sue Lloyd as vice chair of the board.

Big Four firm Ernst & Young has agreed to pay more than $11.8 million to the Securities and Exchange Commission for failing to detect fraud in its audits of an oil services company.

The Public Company Accounting Oversight Board announced that it is actively seeking candidates for economic research fellowships during the 2017-18 academic year.

The Securities and Exchange Commission on Monday charged energy services provider Lime Energy Co. and four executives for their roles in accounting fraud.

Grant Thornton International Ltd. has prevailed in a class-action lawsuit brought by three Louisiana pension funds against the firm.

The Securities and Exchange Commission reported that it has filed 868 enforcement actions related to financial reporting misconduct in fiscal year 2016 – a new single-year high.

Board members at public companies largely favor the use of non-GAAP measures but differ on disclosures of how they’re being used, according to a new survey.

An academic study demonstrates that earnings management is pervasive across U.S., European and Asian companies, whether they’re using U.S. GAAP or International Financial Reporting Standards.

Internal auditors are turning their attention to strategic and emerging risks, according to a new survey.

Why modern budgeting requires built-in business logic and accounting rules

The Financial Reporting Executive Committee of the American Institute of CPAs has issued seven working drafts covering issues related to revenue recognition.

The Center for Audit Quality published two new member alerts to help public company auditing firms quickly and proactively address potential risks.

Chesapeake Energy received a subpoena from the U.S. Department of Justice for information related to its asset purchase accounting practices.

The owner of a Houston-based business has pleaded guilty in a scheme that involved $13 million in false invoicing.

A group of advocacy organizations is urging the Financial Accounting Standards Board to require multinational companies to disclose more information about their taxes.

Audit committees are responsible for wading through the gray area in every company with respect to the law, best practices and business ethics.

The Financial Accounting Standards Board has issued a proposed accounting standards update for improving the financial reporting for long-term insurance contracts, including life insurance, disability income, long-term care and annuities.