Audit

Check out the digital edition of the December 2015 issue of Accounting Today.

The auditing process is mechanical in its function but requires a curious mind to prevent and detect misstatements that can hurt a business.

The Sustainability Accounting Standards Board released an implementation guide Tuesday to help public companies in the U.S. identify, understand and report on the sustainability topics most likely to be material to investors.

A recent report from the Institute of Internal Auditors focuses on how internal auditors view the value they bring to their organizations, even while many of their organizations have no performance measures in place for the internal audit function.

I was asked to provide advice to people starting out in accounting and am sharing my thoughts here. I get many requests to speak, write and comment on all sorts of areas of practice management. Here is one of such interview that hopefully you might find interesting and insightful.

For the fourth quarter in a row, Top 10 Firm BDO USA led large audit firms in new Securities and Exchange Commission audit clients, with 13 new engagements and a net gain of eight in the third quarter of 2015.

In the modern marketplace and competitive landscape, one of the most common questions, complaints and areas of focus for management is the concept of adding value.

Deloitte is advising corporate clients to be careful about their holiday gift giving so they don’t run afoul of laws like the Foreign Corrupt Practices Act.

Building mutually beneficial strategic partnerships with capital markets

The International Financial Reporting Standards Foundation, which oversees the International Accounting Standards Board, is forming a joint working group with the Chinese Ministry of Finance to explore ways to advance the use of IFRS within China, especially for internationally oriented Chinese companies.

CEOs of several major accounting organizations around the world have signed an open letter urging world leaders to agree on reducing carbon emissions.

The Financial Accounting Standards Board has issued a proposed accounting standards update to clarify the definition of a business in an effort to improve financial reporting of acquisitions of nonfinancial assets.

The Financial Accounting Standards Board has issued an accounting standards update to improve how deferred taxes are classified on the balance sheet.

A partner at a New York CPA firm has pleaded guilty to participating in a multimillion-dollar accounting fraud scheme.

Interim CEOs engage in considerably more earnings manipulation than their permanent successors, according to a new study.

Accounting and financial reporting standards for state and local governments that address nonexchange transactions achieved their purpose, according to a new report.

The Financial Accounting Foundation's board of trustees has decided to overhaul some of the procedures for the Private Company Council, which provides input to the Financial Accounting Standards Board on issues relating to privately held companies.

Securities and Exchange Commission chief accountant James Schnurr indicated Tuesday that he plans to recommend to SEC chair Mary Jo White that U.S. companies be allowed to use International Financial Reporting Standards to provide supplemental information, in addition to filing their financials in accordance with U.S. GAAP.

Companies are taking steps on their own to make their financial reports and disclosures more understandable, according to a new report.

Public company audits are improving, according to Securities and Exchange Commission Chief Accountant James Schnurr -- and they need to keep on doing so.