Audit

Atsushi Kato, a former partner at PwC Japan and a public member of the International Ethics Standards Board for Accountants, recently shared his insights on why ethics and accountability are crucial in the wake of recent accounting scandals and what it means to operate in the public interest today.

The Governmental Accounting Standards Board has released a proposed standard that would require state and local governments to disclose information about property and other tax abatement agreements for the first time.

American Realty Capital Properties Inc. fell for a second day Thursday after reporting accounting errors that led to the resignations of two top executives, sparking concern about the company’s ability to raise money for growth.

IIA Career Map, Plante Moran’s 2014 tax guide and more…

The Institute of Internal Auditors has introduced an online tool to help its members develop a personalized career development plan.

The Securities and Exchange Commission has approved the Public Company Accounting Oversight Board’s new standard on auditing related party transactions and significant unusual transactions.

Office relocation and expansion, The McGladrey Classic and more...

The Securities and Exchange Commission has sanctioned a Florida-based auditor for violating federal laws and regulations that require lead audit partners to periodically rotate off their audit engagements with a publicly traded company in order to preserve the integrity of the financial reporting process.

British Petroleum has filed a legal motion against the administrator of the claims settlement program set up to deal with victims of the 2010 oil spill in the Gulf of Mexico from its Deepwater Horizon oil-drilling rig to force him to release the results of an audit by McGladrey LLP that is costing BP more than $14 million.

Tesco Plc Chairman Richard Broadbent will leave after the U.K.’s biggest supermarket company said accounting irregularities started earlier than this year and will continue to impact profit in the second half.

The Public Company Accounting Oversight Board has released expanded versions of two of its inspections reports of KPMG LLP after the firm failed to address quality control issues to the board’s satisfaction.

As previously reported, the majority of 99 accounting firms surveyed by ConvergenceCoaching have implemented work-from-home programs for their staff. Convergence has now released further insights, both positive and negative feedback, from those firms,

KPMG recently announced that its Short Hills, NJ office has attained Leadership in Energy and Environmental Design (LEED) certification from the U.S. Green Building Counsel, the 25th KPMG workplace to do so under its "Living Green" program.

The Committee of Sponsoring Organizations of the Treadway Commission, also known as COSO, is planning a project to review and update its decade-old Enterprise Risk Management–Integrated Framework.

Let’s not kid ourselves. Financial statement auditing as we know it is facing a crisis of relevance in today’s capital markets.

The American Institute of CPAs is getting ready to roll out its long-awaited update of compilation and review standards for CPAs, Statement on Standards for Accounting and Review Services No. 21 (SSARS No. 21), one of the most significant revisions in non-audit standards in the last 35 years.

The final day of the American Institute of CPAs’ 2014 Fall Meeting of Council in Boston saw the AICPA Nominations Committee induct the next class of Board and Council members, including newly elected 2014-15 chair of the board Tommye Barie.

A majority of board members at public companies want Congress to pass broad-based tax reform legislation to address corporate tax inversions, according to a new survey.

The American Institute of CPAs has asked the Equal Employment Opportunity Commission to reject appeals by EEOC staff to investigate and litigate against accounting firms about their mandatory partner retirement provisions, saying in a letter Monday that the classification of partners as employees would be disruptive to the accounting profession and its business practices.

AICPA president and CEO Barry Melancon delivered the keynote speech at the 2014 Fall Meeting of Council in Boston on Monday, discussing the unprecedented changes he foresees in the accounting profession in the coming years.