Audit

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.

The Committee of Sponsoring Organizations of the Treadway Commission, also known as COSO, has unveiled a proposed update to its 2004 enterprise risk management framework.

South Korea is considering a bill that would allow regulators to oust the CEO of an accounting firm that is found to be negligent in controlling audit quality.

The Securities and Exchange Commission said Monday it will allow companies to voluntarily file structured financial statement data in a format known as Inline XBRL.

KPMG stepped down as FIFA’s auditing firm as soccer’s world governing body races to clean up a reputation dented by allegations of bribery and corruption.

Wolters Kluwer Tax and Accounting has introduced technology to help audit automotive and equipment dealerships.

Thomson Reuters has released PPC’s Practice Aids for Audits of Form 11-K Benefit Plans to guide professionals auditing defined contribution plans that are required to file Form 11-K with the U.S. Securities and Exchange Commission.

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.