Audit

An overwhelming majority of corporate board directors oppose the Securities and Exchange Commission’s proposal to require mandatory disclosure of communications between audit committees and auditors, according to a new survey.

Ernst & Young LLP took Bernie Madoff at his word when it signed off on audits of a fund that helped feed the biggest Ponzi scheme in U.S. history.

The number of accountants who belong to professional accounting organizations that are members of the International Federation of Accountants grew 16 percent from 2.4 million to 2.8 million between 2009 and 2013.

The Financial Accounting Standards Board’s 2007 standard on accounting for uncertainty in income taxes, FASB Interpretation No. 48, or FIN 48, has helped discourage companies from using tax reserves to manage their quarterly earnings reports, according to a new study.

Financial restatements can prompt similar companies to misstate their own earnings, according to a new study.

The Center for Audit Quality has released two new member alerts to help public company auditing firms address potential risks during the upcoming audit cycle.

Public companies paid an average of $1.5 million in audit fees last year, according to a new report, with a median audit fee of $402,812, representing a median increase of 3.4 percent over the audit fees they paid in 2013.

Thomson Reuters has added content to its Checkpoint Catalyst research system on the Financial Accounting Standards Board’s financial reporting requirements.

The Securities and Exchange Commission has charged two former top executives at OCZ Technology Group Inc. for accounting failures at the now-bankrupt seller of computer memory storage and power supply devices.

More than 20 percent of corporate board directors said their boards have been approached by activist investors during the past year, according to a new survey, but 46 percent of those polled have no plan in place for responding to activist investor challenges.

The Public Company Accounting Oversight Board issued a disciplinary order permanently barring CPA David A. Aronson from associating with a registered public accounting firm, and permanently revoking the registration of his firm, David A. Aronson CPA PA.

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

Between HBO’s Silicon Valley, news of tech startups going public at premium valuations, and the allure of all-inclusive corporate campuses, the tech industry has never been hotter. For accountants, opportunities in the sector promise a mix of enjoyable work environments, significant growth prospects, and a change into something more dynamic than traditional public accounting.

Paul Pacter speaks up for IFRS

Accounting Today editor-in-chief Dan Hood is haunted by some scary Halloween spirits while previewing the October issue.

The Securities and Exchange Commission has charged Grant Thornton India LLP and Australia-based Grant Thornton Audit Pty Limited with auditor independence violations.

Mike Lynch, the founder of U.K. software company Autonomy, accused Hewlett-Packard Co. of damaging his career with false statements in the fallout from the two companies’ $10-billion merger that has been marred by a massive writedown and allegations of accounting fraud.

Toshiba Corp. said it has identified 30 more executives involved in an accounting scandal that has already led to resignations of three former presidents and reduced reported profit by about $1.3 billion.

The Public Company Accounting Oversight Board released a document Thursday describing its main objectives, focus and scope when inspecting audit firms this year.

Changing timeliness from a black mark to a hallmark