Audit

The Securities and Exchange Commission has charged Marrone Bio Innovations, a pesticide company, and its former chief operating officer, with inflating financial results to meet projections it would double revenues in its first year as a public company.

CFOs and audit committee chairs are not getting enough insights into corporate risk management from their companies’ internal audit function, according to a new survey.

Charles Munger just burned through another auditor.

Audit committees need to have oversight of risks to their organizations from third parties such as suppliers, distributors, sales people and service providers, according to a new report.

Internal audit practitioners are facing new demands for improving cybersecurity and communicating the risks of cyberattacks to their organizations, according to a new report.

The Financial Accounting Standards Board is expected to release its long-awaited lease accounting standard this quarter, and companies are bracing for the impact on their balance sheets.

Under the Whistleblower Program, the SEC must make monetary awards to eligible individuals who voluntarily provide the Commission with original information about a violation of the federal securities laws that has occurred, is ongoing, or is about to happen.

The International Public Sector Accounting Standards Board has released for comment an exposure draft amending the standards for public sector entities under the cash basis of accounting.

The International Ethics Standards Board for Accountants has released for public comment an updated exposure draft on a standard for addressing how audit firm personnel should act toward an audit or assurance client who has a long association with the firm.

Hans Hoogervorst has been re-appointed as chairman of the International Accounting Standards Board for a second five-year term, but his vice-chairman, Ian Mackintosh will not be seeking a second term.

The U.S. Securities and Exchange Commission is investigating whether Boeing Co. properly accounted for the costs and expected sales of two of its best known jetliners, according to people with knowledge of the matter.

The Governmental Accounting Standards Board issued a guidance Thursday to provide clarity about how certain component units incorporated as not-for-profit corporations should be presented in the financial statements of the primary state or local government.

An internal whistleblower could collect up to $24 million of the $80 million penalty imposed by the Securities and Exchange Commission against agribusiness giant Monsanto.

The Securities and Exchange Commission said Tuesday that St. Louis-based agribusiness Monsanto Company has agreed to pay an $80 million penalty and retain an independent compliance consultant to settle charges that it violated accounting rules and misstated company earnings pertaining to its flagship product Roundup.

The Governmental Accounting Standards Board has issued a proposal to establish a single approach for state and local governments to report leases based on the principle that leases are financings of the right to use an underlying asset.

Brixmor Property Group Inc. shares plunged after Chief Executive Officer Michael Carroll and two other executives resigned following a discovery by the company’s audit committee that employees were “smoothing” income to make quarterly results more consistent.

A group of community bankers from the Independent Community Bankers of America met last week with the Financial Accounting Standards Board to discuss their concerns with FASB’s upcoming impairment standard on credit losses.

The International Federation of Accountants has issued a report calling for governments around the world to stop issuing a patchwork set of regulations that are stifling economic growth.

Internal auditors are increasingly finding themselves tasked with new responsibilities that carry some degree of risk, according to a new report.

A video preview of the February 2016 issue of Accounting Today, with stories about firm mergers, tax extenders and more.