Audit

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.

The Institute of Management Accountants and the American Accounting Association’s Management Accounting Section have released a new framework intended to broaden the scope of accounting education.

The Institute of Internal Auditors has elected PricewaterhouseCoopers partner Anton van Wyk, a native of South Africa, as chairman of the IIA’s 2014-2015 Global Board of Directors.

Wholesale adoption in the U.S. of International Financial Reporting Standards seems unlikely to occur in the near future as the Financial Accounting Standards Board and the International Accounting Standards Board continue to move away from full convergence of their standards, according to a Fitch Ratings report.

Protiviti has released the 10th anniversary edition of its Internal Auditing around the World publication, examining the pressing issues, new challenges and evolution of internal audit that affect global companies.

The Institute of Internal Auditors has introduced a new Qualification in Internal Audit Leadership program to identify and nurture the internal audit profession’s next generation of leaders.

The Public Company Accounting Oversight Board announced a settled disciplinary order Monday against Randall A. Stone, CPA, of Austin, Texas, a former PricewaterhouseCoopers LLP partner, for violating PCAOB rules and standards in PwC's 2007 audit of the medical device company ArthroCare Corporation.

The Institute of Cost Accountants of India recently celebrated the first anniversary of the founding of the American Center of Cost Accountants of India.

The Institute of Internal Auditors released a new report at its international conference in London calling on internal auditors to add more value to stakeholders by enhancing their services.

JPMorgan Chase & Co. and Danske Bank A/S funds are among investors exposed to Let’s Gowex SA, the Spanish Internet startup that’s filing for insolvency after saying it falsified accounts for at least four years.

The International Federation of Accountants and the Chartered Institute of Public Finance and Accountancy have developed a new International Framework for Good Governance in the Public Sector to encourage more effective public sector governance.