Audit

The International Valuation Standards Council and the Appraisal Foundation have released a document explaining how they plan to harmonize their standards for assessing the value of both tangible and intangible assets.

U.S. corporations overstated their net income more than $164 billion last year by publicizing non-GAAP measures, according to a new report.

The Public Company Accounting Oversight Board released a staff guidance document Tuesday to help auditing firms deal with new requirements for disclosing the names of engagement partners and outside firms that participated in an audit.

The Securities and Exchange Commission voted Monday to propose amendments that would expand the threshold for businesses to qualify as a “smaller reporting company.”

The European Union’s new rules for mandatory audit firm rotation took effect on June 17, only a week before the United Kingdom voted to “Brexit” from the E.U. How will that affect audit firm rotation in the U.K. and Europe?

The Financial Accounting Standards Board has issued a proposed accounting standards update to amend the consolidation guidance for variable interest entities.

A former controller who embezzled $8.7 million from the Pepsi bottling company where he worked and then spent six years as a fugitive on the Appalachian Trail has been sentenced to eight years in prison.

Ernst & Young outpaced the rest of the Big Four in auditing the most public companies last year, according to a new ranking.

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Roomy Khan, a technology executive and financial analyst who helped convict Galleon Group founder Raj Rajaratnam on fraud charges, told a group of fraud examiners last week about how she became enmeshed in the insider trading scheme.

In a recent article on Accounting Today’s website, Auditors: Friends or Foes, Jillian Rojas explored an interesting comparison between public company auditors and the police.

Enabling your startup clients to set up a successful accounting function involves both an understanding of their needs and the ability to tailor relevant solutions to meet those needs.

The long awaited credit loss standard that the Financial Accounting Standards Board released last week is expected to have a wide-ranging impact beyond only banks and financial services firms.

Today’s CFOs face a perfect storm of pressures.

Whenever I meet a new accountant, I always ask them, “Does your firm have a department specializing in Space Accounting?” It is surprising to me when they respond with expressions of confusion and bewilderment.

Financial executives are anticipating trouble adjusting to the lease accounting standard that the Financial Accounting Standards Board released in February, as FASB also rolls out its new credit loss standard Thursday.

The Financial Accounting Standards Board issued Thursday its long awaited accounting standards update for credit losses, part of the convergence project on financial instruments that it has been working on with the International Accounting Standards Board for eight years.

Judge Jed Rakoff told attendees at the Association of Certified Fraud Examiners' Annual Global Fraud Conference in Las Vegas that prosecutors are falling short on prosecuting fraud.

Every day, the public places their trust in two seemingly unrelated entities: public auditors and the police.

The majority of companies admit they are behind on implementing the new revenue recognition standard from the Financial Accounting Standards Board, according to a new survey, despite a delay of the effective date by one year.