Audit

The American Accounting Association has retracted 25 articles written or co-authored by a former accounting professor who was forced to resign after his university uncovered a “pattern of misconduct.”

The Sustainability Accounting Standards Board has issued provisional standards for seven industries in the consumption area, including agricultural products; meat, poultry and dairy; processed foods; non-alcoholic beverages; alcoholic beverages; tobacco; and household and personal products.

The Securities and Exchange Commission has voted Wednesday to publish a concept release asking for public comments about the current audit committee disclosure requirements, focusing particularly on toughening the committee’s oversight of independent auditors.

The Governmental Accounting Standards Board has issued two exposure drafts for state and local governments proposing accounting and financial reporting guidance related to external investment pools and how certain component units should be presented in a governmental reporting entity’s financial statements.

The Securities and Exchange Commission has charged Deloitte & Touche LLP with violating auditor independence rules when its consulting affiliate maintained a business relationship with a trustee serving on the boards and audit committees of three funds it audited.

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

The Public Company Accounting Oversight Board proposed Tuesday to require firms to file a new PCAOB form to make public the name of the audit engagement partner and information about certain other participants in the audit, and also issued a concept release on audit quality indicators.

The Governmental Accounting Standards Board has finalized a new standard that aims to simplify the structure of the hierarchy of Generally Accepted Accounting Principles for state and local governments.

Moving past simplification to ‘qualitification’

Preparing for the new revenue recognition standards

The Governmental Accounting Standards Board has published two new standards aimed at improving the accounting and financial reporting by state and local governments for post-employment benefits other than pensions, primarily retiree health insurance.

XBRL US has joined up with five companies to improve the quality of financial filings in Extensible Business Reporting Language with the Securities and Exchange Commission.

The Public Company Accounting Oversight Board has scheduled an open meeting for next Tuesday to consider the issuance of a supplemental request for comment on rules to require disclosure of certain audit participants and a concept release on audit quality indicators.

The Institute of Internal Auditors is releasing a new whitepaper describing 10 imperatives for internal auditors.

The American Institute of CPAs has published a new guide to help CPAs interpret and apply Statement on Standards for Accounting and Review Services No. 21.

The Trustees of the IFRS Foundation, the oversight body of the International Accounting Standards Board, announced Wednesday the membership of the Accounting Standards Advisory Forum for the next three years.

Thomson Reuters has released the 2015 editions of its series of audit guides and related practice aids.

The European Commission has issued a report evaluating the use of International Financial Reporting Standards over the past decade in the European Union.

The outlook from U.S. CFOs on the financial prospects for their own companies is the brightest in years, according to a new survey.

The Institute of Internal Auditors has begun publishing a series of reports under the title, “Global Perspectives and Insights,” to provide thought leadership on issues of interest to audit practitioners.