Audit

Staggered terms of board directors at public companies have fallen out of favor in recent years, in part because they give shareholders less influence over management, and new research suggests a staggered board structure could also hurt the effectiveness of audit committees.

The trustees of the IFRS Foundation have suggested a number of amendments to its constitution.

Valeant Pharmaceuticals International Inc. just gave conventional financial measures a new prominence in its latest quarterly report. It wasn’t pretty.

The Securities and Exchange Commission has barred a former corporate vice president and a former controller for false accounting at an electronics company.

The World Gold Council, a market development organization for the gold industry, has some ideas about developing a common accounting framework for gold that could be used by central banks in countries around the world.

The costs of the finance and accounting function at many companies are expected to climb in the next few years, according to a new survey.

The Financial Accounting Standards Board has issued a proposed accounting standards update on gains and losses from the derecognition of nonfinancial assets, clarifying the scope of FASB’s asset derecognition guidance and accounting for partial sales of nonfinancial assets.

Only 9.8 percent of financial and accounting professionals say their companies are prepared to comply with the new lease accounting standards, according to a new survey by Deloitte.

Oracle Corp. and its top executives were sued by an investor who blames his stock losses on allegations by a former finance executive that the cloud computing giant doctored its quarterly results.

The Federal Accounting Standards Advisory Board is proposing changes in how the federal government accounts for tax expenditures.

The Center for Audit Quality is providing support for more independent auditing-related research by picking two new academic research proposals for funding.

Thomson Reuters has released a new edition of PPC’s SMART Practice Aids – Single Audit Suite to automate the single audit process.

New York’s highest court again rejected a bid by former American International Group Inc. Chairman Maurice “Hank” Greenberg to dismiss the state’s decade-old fraud suit against him, clearing a path for a trial.

Check out the June 2016 issue of Accounting Today.

The XBRL US Data Quality Committee has released an analysis showing big improvements in the quality of filings in Extensible Business Reporting Language format by companies that follow a new set of validation rules.

The International Organization of Securities Commissions has released a new report providing an overview of how audit committees around the world oversee audit firms, with an eye toward improving audit quality at public companies.

Encore: Tax inverters — evaders or avoiders?

Crunching the numbers on Valeant Pharmaceuticals

Alibaba Group Holding Ltd. said it’s being investigated by the U.S. Securities and Exchange Commission over its accounting practices and whether they violate federal laws.

Baker Tilly Virchow Krause's incoming CEO, Alan Whitman, explains in this video how his firm fits into Baker Tilly's international network.