Audit

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.

Water industry outlook, board of director announcements and more…

POOP: It's time to bring GAAP into the 21st century

The American Institute of CPAs’ Auditing Standards Board has issued two new auditing interpretations in response to the Governmental Accounting Standards Board’s new pension reporting standards.

A roundup of recent audit and assurance-related news.

Companies will have assistance to comply with new policies.

Be careful where you and your clients consolidate financial statements

A new academic study finds that fair value accounting was unfairly blamed for precipitating the 2008-2009 financial crisis, but acknowledges that some investors reacted positively to news that the rules would be relaxed in response to the crisis.

Ralph Summerford, president of the financial investigation firm Forensic Strategic Solutions in Birmingham, Ala., sees a growing need for forensic accountants and fraud examiners.

The world’s four biggest accounting firms said a planned pro-democracy sit-in protest in Hong Kong’s business district may lead to an exodus of firms, hurting the economy.

Scott London, the former partner in charge of KPMG’s Pacific Southwest audit practice, talked about what led up to his fraud conviction and insider trading charges during a webinar before he begins a 14-month prison term next month.