Audit

Awards, conferences and more…

Daily Journal Corp., the California publisher that counts billionaire Charles Munger as chairman, dismissed Ernst & Young LLP after the auditor faulted the company’s accounting.

Deloitte has appointed Catherine Engelbert as chairman and CEO of Deloitte & Touche LLP, the audit subsidiary of Deloitte LLP, to lead its audit practice.

The Public Company Accounting Oversight Board has released staff guidance to help auditors of brokers and dealers registered with the Securities and Exchange Commission to plan and perform audits in accordance with PCAOB standards as mandated by the Dodd-Frank Act and SEC rules.

Thomson Reuters has released a special report examining the Public Company Accounting Oversight Board’s new standards affecting broker-dealer audits.

The Center for Audit Quality and the Auditing Section of the American Accounting Association have announced four awards as part of a program designed to give academic researchers access to audit firm personnel to use in their research projects.

The Financial Accounting Standards Board and the International Accounting Standards Board are taking different approaches to setting standards for rate-regulated utilities, and a FASB board member sees little prospect for an agreement.

The nonprofit Sustainability Accounting Standards Board has released provisional sustainability standards for industries in the nonrenewable resources sector, such as oil, gas and mining.

The role of the finance team is expanding beyond traditional accounting and financial reporting function to include areas such as information technology development, cyber security and strategic business planning, according to a new survey by the American Institute of CPAs.

Accounting Today is issuing a call for nominations for its 2014 Top 100 Most Influential People in Accounting list.

The International Accounting Standards Board announced its intention Monday to create a transition resource group that will focus on the upcoming new requirements for impairment of financial instruments under International Financial Reporting Standards.

Accounting firm accolades, relocation and more…

The Financial Accounting Standards Board has issued a new accounting standards update for stock compensation.

The Indiana CPA Society has established a CPA Center of Excellence to better prepare CPAs for the challenges of the future.

The Center for Audit Quality has released findings from a collaborative effort by members of the public company auditing profession to field test certain aspects of the Public Company Accounting Oversight Board’s auditor’s reporting model proposal.

It is widely acknowledged that fraud, including fraudulent financial reporting and other improprieties targeted against businesses, has become epidemic.

Ohio is the first state in the nation to allow continuing professional education in 10-minute increments for CPAs.

The new converged revenue recognition standard from the Financial Accounting Standards Board and the International Accounting Standards Board could have an impact on not only financial statement preparers, but on tax practitioners and auditors as well.

The Governmental Accounting Standards Board has published two proposed statements to improve financial reporting by state and local governments of other post-employment benefits, such as retiree health insurance.

Doeren Mayhew spins off its investment banking practice into a new investment bank, P&N Tech forms a new partnership, and more…