Audit

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

Nonprofit organizations make accounting errors at a relatively high rate, in part because they try to avoid devoting a high percentage of their funding to administrative costs, according to a new study.

Word that the U.S. Marine Corps had passed an audit of its books was such a cause for celebration that a ceremony was staged last year in a Pentagon hall usually reserved to honor battlefield bravery.

Thomson Reuters has introduced the Checkpoint Learning Forensic Accounting Certificate Program for CPAs and other accounting and audit professionals to help them build competencies in forensic investigation, related process, and litigation support while earning continuing professional education credits.

Accounting Today editor-in-chief Dan Hood previews the August issue in this summer camp video.

The International Auditing and Assurance Standards Board has released an exposure draft proposing changes to how auditors should handle engagements reporting on summary financial statements.

In an age of stepped-up regulation and enforcement, accountants and their clients need to know how to cope with a variety of different agencies, including the Securities and Exchange Commission and the Public Company Accounting Oversight Board.

The Financial Accounting Standards Board has issued a three-part accounting standards update for employee benefit plans accounting as part of its efforts to simplify the accounting rules.

Profs. Miller & Bahnson dive deep into the standard-setter in an all-new edition of a classic text

The Financial Accounting Standards Board is beginning to hear from not-for-profit organizations and their accountants about the far-reaching changes it has proposed in reporting by nonprofits, and finding there are some disagreements, even among FASB’s own leaders.

Global standards advocates need to understand the problems

Plaintiffs filed 85 new federal class-action securities cases against U.S.-based companies in the first half of 2015, a decrease from the second half of last year, which saw 92 cases filed, according to a new report.

The International Accounting Standards Board has proposed making some clarifications to the revenue recognition standard that it released last year with the U.S. Financial Accounting Standards Board.

The International Public Sector Accounting Standards Board has released for comment a consultation paper on Recognition and Measurement of Social Benefits.

Changes in fair value measurement are having a big impact

The International Federation of Accountants has released a new briefing paper on how accountants can help their organizations address sustainability issues and incorporate them into business decisions.

The Department of Justice’s Office of Inspector General issued a report criticizing PricewaterhouseCoopers’ audit of Big Brothers Big Sisters of America and has referred to the matter to the American Institute of CPAs’ Professional Ethics Division.

More than a dozen years ago, the U.S. experienced a rash of high-profile accounting scandals. Now it’s Japan’s turn.

Since the advent of Financial Accounting Standard 133 in 1998, financial statement preparers have been dealing with the onerous and complex requirements of hedge accounting, arguably one of the most complex statements that the board has promulgated.

The Anti-Fraud Collaboration, a joint effort of the Center for Audit Quality, Financial Executives International, the Institute of Internal Auditors and the National Association of Corporate Directors, has released the third in a series of case studies examining how to identify and stop accounting fraud in an organization.