Audit

John Raspante of NAPLIA explains in this video why failing to detect fraud is such a common claim in malpractice lawsuits against accountants and how to protect your firm against it.

The following is a short story I distribute to my beginning undergraduate accounting students and those graduate students who are finishing their master’s degrees. It is intended to stimulate their reading comprehension and ignite their critical thinking as to how numbers play such an important role in business as in life. It was influenced by a sermon a priest delivered many years ago at a service I once attended:

Mergers and deregistrations spark many moves.

The internal audit function is increasingly providing significant value, according to a new report by PricewaterhouseCoopers.

The Securities and Exchange Commission has accepted the Financial Accounting Standards Board’s 2016 GAAP Financial Reporting Taxonomy.

KPMG and IBM announced plans to apply IBM’s Watson cognitive computing technology to KPMG’s professional service offerings, with a focus on auditing services.

The finance and accounting function can play a critical role in helping organizations navigate through a crisis.

The Financial Accounting Standards Board has issued an accounting standards update for private companies that opt to apply private company accounting alternatives, removing the effective dates for four of the alternatives.

The International Auditing and Assurance Standards Board has released a publication describing some of the audit issues arising from the shift to Expected Credit Loss models when accounting for loan losses under new accounting standards.

The six largest audit firm networks have agreed with international audit regulators on a new initiative to achieve a measurable reduction in audit deficiency findings by 2019.

Helen Brand, chief executive of the Association of Chartered Certified Accountants, is on a mission to expand accounting education across the world.

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

The Financial Accounting Standards Board’s new lease accounting standard could have some positive payoffs for companies if they take a careful approach to implementing it.

Nearly three out of four organizations now include cybersecurity risks in their internal audits, a big jump from last year, according to a new survey.

Two professors argue that financial reporting and accounting standards are increasingly irrelevant.

Bloomberg BNA has published a special report to help accountants prepare for the Financial Accounting Standards Board’s new leasing standard.

It’s generally accepted that a lot of accounting isn’t, well, generally accepted.

Not everyone is hailing the Financial Accounting Standards Board’s new lease accounting standard, including one FASB member who voted against the standard, and a key investor group that has also expressed qualms.

Financial reporting economics: It’s a good idea to supply what’s demanded

A pair of Democrats have introduced legislation in Congress to expand protections for financial whistleblowers to close some loopholes in the Dodd-Frank Act that have been exploited by some employers.