Audit

Deloitte Analytics has announced a collaborative agreement with the University of Virginia's McIntire School of Commerce, under which it will serve a three-year term as an advisory board member for the school's Center for Business Analytics.

The Financial Accounting Standards Board has issued a new accounting standards update to provide guidance on disclosing uncertainties about a business’s ability to continue as a going concern, while further distancing U.S. GAAP from International Financial Reporting Standards.

The Center for Audit Quality has created an online document to help auditors with the decision-making process so they can form auditing and accounting judgments with the appropriate professional skepticism.

A post-implementation review of an accounting standard for state and local governments on the impairment of capital assets and insurance recoveries found that it provides important information to users, but does not resolve all the issues it was meant to address.

The Securities and Exchange Commission is bringing charges against a telecommunications equipment maker and two of its former executives for improperly recognizing as revenue over a million dollars’ worth of inventory.

The Accountants Confidence Index got back into sync with an upward tick in July, after the short- and mid-term readings split in June.

BeachFleischman relocates, CAMICO redesigned its website, and more…

The Financial Accounting Standards Board announced that registration is open for its upcoming webcast covering the 2015 GAAP Taxonomy.

The Financial Accounting Standards Board issued a proposed Accounting Standards Update Wednesday intended to simplify the accounting for a customer’s fees paid in a cloud computing arrangement.

Hertz Global Holdings said full-year results will miss the low end of its forecast because of challenges including industrywide vehicle recalls which prevented it from meeting demand and costs related to an accounting review.

The Public Company Accounting Oversight Board has released for public comment a staff consultant paper on standard-setting related to auditing accounting estimates and fair value measurements.

A post-implementation review conducted by the Financial Accounting Foundation of a 2004 accounting standard on share-based payment transaction said that it achieved its purpose and provides useful information to financial statement users.

The Financial Accounting Standards Board has added five more projects to its agenda for simplifying accounting standards, including short-term projects related to debt and tax accounting.

The Public Company Accounting Oversight Board has released a new report showing that auditors of brokers and dealers who were inspected last year continued to have a high number of problems with independence and audit deficiencies.

The International Ethics Standards Board for Accountants has proposed to strengthen the auditor independence standards in the ethics code to address long associations with audit and assurance clients.

PricewaterhouseCoopers LLP was fined $25 million after sanitizing a report to regulators on sanctions and money-laundering controls for Bank of Tokyo-Mitsubishi UFJ Ltd., New York’s top bank regulator said today.

Governments that default on their sovereign debt could be falling victim to the absence of accrual accounting in most public sector entities, and the International Federation of Accountants wants to change that.

Alibaba Group Holding Ltd., after announcing an average of two acquisitions a month this year, is learning the importance of doing your homework.

Many banks are unprepared for changes in accounting standards next year on how to calculate losses on their loans and leases, according to a new survey.

Is the time now right to use a financial reporting language that transcends national boundaries? This question continues to cause division in some countries, particularly in the United States.