Audit

The online audit confirmation service Confirmation.com has expanded its presence in Europe with the acquisition of ProConfirm Ltd., an electronic audit confirmation service based in London.

The American Institute of CPAs’ Auditing Standards Board has amended its standards for providing so-called “comfort letters” to underwriters and other parties requesting such letters.

Among large firms, KPMG and Marcum LLP tied for the most new Securities and Exchange Commission audit clients in the second quarter of 2014.

The International Accounting Standards Board has issued the final element of its own long-awaited financial instruments accounting standard after failing to reach a consensus with the U.S. Financial Accounting Standards Board on key elements related to credit losses and loan impairments.

Financial restatements declined substantially in the decade after the passage of the Sarbanes-Oxley Act of 2002, according to a new academic study.

PricewaterhouseCoopers has released a new paper on how companies can get ready for the newly converged revenue recognition accounting standard.

The Institute of Internal Auditors wants more public sector entities to establish independent audit committees.

The Public Company Accounting Oversight Board has entered into a cooperative arrangement with the Danish Business Authority for the oversight of audit firms in both regulators’ jurisdictions.

ACG New York taps CBIZ as accounting firm of the year, a new firm emerges in Jamaica and more…

Lawmakers who are part of a group of current and former CPAs and accountants in Congress are expressing concern about the possibility of the Securities and Exchange Commission allowing U.S. companies a choice of using either U.S. GAAP or International Financial Reporting Standards.

The Financial Accounting Standards Board voted Wednesday to finalize an accounting and financial reporting standard aimed at increasing transparency and consistency of financial reporting about consolidation.

The Financial Accounting Standards Board has proposed a pair of Accounting Standards Updates aimed at simplifying the process of inventory measurement and eliminating the requirements for extraordinary items.

After rebounding sharply in June from months of decline, the Accountants Confidence Index split into two directions this month, with the short-term and mid-term readings heading apart, though both remain positive.

Ernst & Young has agreed to pay $4 million to settle charges brought by the Securities and Exchange Commission accusing the firm of violating auditor independence rules by lobbying congressional staff on behalf of two auditing clients.

UNC to offer its master of accounting program online , AWSCPA taps Clark Nuber among the best firms for women, and more …

ACL has introduced an add-in tool for Microsoft Excel aimed at auditors and compliance professionals.

The majority of attendees at a roundtable discussion Thursday in Washington, D.C., on enhancing the ethics standards for accountants favored changes by the International Ethics Standards Board of Accountants to permit reporting of illegal acts.

The American Institute of CPAs is offering a new, free newsletter called Inclusion Solutions.

The Securities and Exchange Commission has begun sending letters to public companies that fail to file their financials with all the necessary data using Extensible Business Reporting Language technology.

The real estate investment trust Ventas has dismissed Ernst & Young as its auditor after E&Y determined that it lacked independence because of an “inappropriate personal relationship” between an E&Y partner and Ventas’s former chief accounting officer and controller.