Audit

Check out the digital edition of the February 2016 issue of Accounting Today.

The Financial Accounting Standards Board decided Wednesday to add four financial reporting issues and two more projects to its research agenda.

South America’s regional soccer body Conmebol, which has lost its last three presidents under the cloud of a global corruption scandal, is inviting forensic accountants to investigate its business affairs since 2011.

The Sustainability Accounting Standards Board has signed a memorandum of understanding with the Institute of Management Accountants to advance the management and disclosure of nonfinancial information in corporate reports.

The Financial Accounting Standards Board’s Emerging Issues Task Force has proposed an accounting standards update for how certain cash receipts and cash payments would be classified on the statement of cash flows.

The Institute of Internal Auditors has proposed changes to its International Standards for the Professional Practice of Internal Auditing to help internal auditors meet the challenges of today’s business environment.

Accounting firms that prepare the taxes of companies they also audit tend to steer away from dubious tax deductions, according to a new study.

Thirty-eight percent of organizations are turning to outside services to supplement the efforts of their internal audit function, according to a new survey of chief audit executives.

Top 100 Firm Marcum took the top spot among large audit firms in bringing in new Securities and Exchange Commission audit clients in the fourth quarter of 2015, with with 11 new engagements and a net gain of six.

20 years: Looking back, around and forward

The American Institute of CPAs is encouraging firms to modernize the way they conduct audits by using data analytics technology and working to improve the way employee benefit plan audits are conducted in response to a critical Labor Department report.

American Institute of CPAs president and CEO Barry Melancon said the AICPA is pushing the Internal Revenue Service to improve its services for both taxpayers and CPAs while preparing to become a more international organization.

The Financial Accounting Standards Board has issued two proposed accounting standards updates to improve financial reporting by employers related to defined benefit pension and other post-retirement benefit plans.

The lease accounting standard that the Financial Accounting Standards Board plans to release this quarter is expected to have a major impact on many companies, requiring current off-balance sheet leasing activities to be reflected on balance sheets for the first time.

Nearly a third of financial reporting executives in a new poll said internal control over financial reporting was their highest concern beyond their financial reporting responsibilities.

The American Institute of CPAs’ Auditing Standards Board has issued an amendment to its auditing standards to clarify the format of the auditor’s report.

Companies are taking steps to prepare for a reputational crisis by employing an internal audit function, but less than half the board members polled in a new survey feel they are “well-versed” in the issues.

The Association of Chartered Certified Accountants and the Institute of Management Accountants have released a new report on how accountants can play a key role in the trend toward integrated reporting.

Bloomberg BNA is releasing its annual report on the year ahead in tax and accounting, containing a collection of over 20 articles from its reporters on the outlook for tax legislation, international taxation, state taxes, Supreme Court tax cases, accounting standards and other topics.

The International Accounting Standards Board issued the long-awaited lease accounting standard that it has been developing for over a decade with the Financial Accounting Standards Board, which is also expected to release its version of the standard early this year.