Audit

The American Institute of CPAs has created an illustrative SOC 2 report to help CPAs report on controls over protected health information.

On the heels of the Public Company Accounting Oversight Board’s new standards for disclosure of audit engagement partners, the International Accounting Education Standards Board has issued new guidance for the implementation of its own standard, IES 8, Professional Competence for Engagement Partners Responsible for Audits of Financial Statements (Revised).

The Financial Accounting Standards Board has made available the 2016 GAAP Financial Reporting Taxonomy, pending final acceptance by the U.S. Securities and Exchange Commission.

A group representing community banks is objecting to recent remarks last week by Financial Accounting Standards Board chairman Russell Golden, claiming they “slander” community banks.

Becker Professional Education has introduced seven new Professional Certification Programs for CPAs and other financial professionals.

The Committee of Sponsoring Organizations of the Treadway Commission, also known as COSO, has introduced an Internal Control Certificate Program.

The Sustainability Accounting Standards Board has issued provisional sustainability standards for renewable energy companies.

Rutgers Business School and the American Institute of CPAs announced the creation of the Rutgers AICPA Data Analytics Research Initiative.

The Public Company Accounting Oversight Board adopted new rules during a meeting Tuesday to provide investors with more information about who is participating in public company audits, including the name of the engagement partners and any other firms that participated in the audit.

Akebono Brake Industry Co. has become the latest addition to a series of corporate scandals in Japan, cutting earnings forecasts and executive pay after confirming problematic accounting of sales to distributors.

Robert Stewart, senior vice president of public affairs at the Financial Accounting Foundation, died unexpectedly early last Saturday in his sleep at the age of 62.

The American Institute of CPAs’ Accounting and Review Services Committee has issued three proposed Statements on Standards for Accounting and Review Services, or SSARS, related to prospective and pro forma financial information.

The U.K. accounting regulator should re-examine its decision not to investigate the auditing of now-defunct HBOS Plc by KPMG if it wants to restore public confidence in the audit process, according to U.K. lawmaker and Treasury Committee Chair Andrew Tyrie.

Bloomberg BNA has released two new reports on the Financial Accounting Standards Board’s and the International Accounting Standards Board’s revenue recognition standard.

The Governmental Accounting Standards Board has issued new guidance on its pension accounting standards to help state and local governments that participate in some private or federally sponsored multiple-employer defined benefit pension plans, such as Taft-Hartley plans and plans with similar characteristics.

The Public Company Accounting Oversight Board has scheduled a meeting for next Tuesday to vote on new rules that would require auditing firms to disclose the name of the engagement partner and other accounting firms that participated in an audit.

Half the companies in a recent survey are still using some type of manual system to process their expense reports, according to a new survey.

The Securities and Exchange Commission suspended five accountants and two audit firms Thursday from practicing or appearing before the SEC after they violated rules designed to preserve the integrity of the financial reporting system.

Financial reporting is increasingly complex, and many companies find it challenging to comply with the disclosure requirements of the standards while providing readers with information that is meaningful and understandable.

The Public Company Accounting and Oversight Board is continuing to encounter resistance from Chinese authorities in its efforts to gain access to inspecting audit firms in China.