Audit

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…

The CPA brand remains “incredibly strong,” according to American Institute of CPAs president and CEO Barry Melancon, but the profession still faces challenges.

The Financial Accounting Standards Board has released a new accounting standard to address some of the problems with financial reporting on repurchase agreements, such as those that contributed to the demise of MF Global.

The Public Company Accounting Oversight Board has made public additional portions of a 2010 inspection report on Ernst & Young and 2008 and 2009 inspections of Grant Thornton because the firms failed to adequately address some of the quality control problems that the PCAOB had identified within a year, although Grant Thornton claims the problems have since been addressed.

The Financial Accounting Standards Board has added two short-term projects to its agenda to simplify U.S. GAAP as part of its initiative to reduce complexity in accounting standards.

After several months of decline, accountants’ confidence in the prospects for economic growth saw a sharp uptick, according to the June edition of Accounting Today’s Accountants Confidence Index.

The Public Company Accounting Oversight Board adopted a new auditing standard Tuesday, along with amendments to other auditing standards, to require auditors to pay more attention to three critical areas of the audit: related-party transactions, significant unusual transactions, and a company’s financial relationships and transactions with its executive officers.

The Financial Accounting Standards Board issued an accounting standards update Tuesday to improve financial reporting for development-stage entities, eliminating the inception-to-date information and differences in consolidation guidance.

Christopher Cox, the former Securities and Exchange Commission chairman whose support for converging International Financial Reporting Standards with U.S. GAAP was crucial in setting up a “roadmap” for harmonizing the two sets of accounting standards, has reversed course.

RootWorks LLC has announced an expansion of its continuing education programming for the accounting profession with the opening of a new state-of-the-art learning center located in the PNC Center in Indianapolis.

After announcing that it needs to fix three years of financials and that quarterly results won’t meet estimates, car- and equipment-rental company Hertz Global Holdings Inc. tumbled in the stock market.