Audit

The members of the American Board of Forensic Accounting, the advisory board behind the American College of Forensic Examiners Institute’s Certified Forensic Accountant credential, have unanimously resigned amid questions about the legitimacy of the credential and the organization behind it.

Shareholders at annual general meetings are expected to question management and board members about a number of hot topics this year, included audit firm tenure, COSO’s new internal control framework, mergers, spinoffs, cybersecurity, disaster planning and executive pay, according to BDO USA.

The International Financial Reporting Standards Foundation and the International Accounting Standards Board are reaching out to Islamic countries to elicit their support for IFRS, with a working group dedicated to making sure the standards don’t conflict with Sharia law.

The Governmental Accounting Standards Board has released a new online pension implementation toolkit to help preparers, auditors, and users of state and local government financial reports understand and apply the revised pension accounting and financial reporting standards

The Financial Accounting Standards Board has responded to a post-implementation review of its accounting standard for fair value measurement, saying it doesn’t plan to make any comprehensive changes.

The 100 largest accounting firms in the United States reported average revenue growth of 7.81 percent for 2013, according to Accounting Today’s new Top 100 Firms list.

MCM featured on World’s Greatest TV show, BerryDunn takes on 24 hour skiing challenge, and more…

The IFRS Foundation and the International Valuation Standards Council have signed a joint statement of protocols for cooperating on International Financial Reporting Standards and International Valuation Standards in the area of fair value measurement.

The Financial Accounting Standards Board has issued a draft version of its long-awaited Disclosure Framework, aimed at improving its process for evaluating existing and future disclosure requirements in the notes to financial statements.

The internal control framework that was unveiled last year by the Committee of Sponsoring Organizations of the Treadway Commission, also known as COSO, will take some time to adjust to, but the Securities and Exchange Commission is encouraging companies to transition to it by the end of this year.

The Institute of Management Accountants released the results of a survey Monday showing that in every region the global accounting association surveyed, professionals holding its Certified Management Accountant credential had greater earning power than non-CMAs.

The International Federation of Accountants has launched the Global Knowledge Gateway, a service that brings together news, views, resources and thought leadership articles for the accounting profession worldwide.

A roundup of assurance news from the previous month.

For the first time, we are presenting in Accounting Today this edited excerpt from the prologue to Quality Financial Reporting, a book we published in 2002.

The Public Company Accounting Oversight Board announced plans to host a public meeting on Wednesday and Thursday, April 2-3, to get further feedback on its proposal to improve the auditor's reporting model.

Accounting firm awards, name changes and more…

After starting the year with a wobble, the accounting profession's expectations for economic growth remained uncertain, according to the February edition of Accounting Today’s monthly Accountants Confidence Index.

The Governmental Accounting Standards Board has drafted a proposed Hierarchy of Generally Accepted Accounting Principles for State and Local Governments, listing the order of priority for the types of pronouncements that a state or local government should look to for guidance when preparing their financial statements.

The International Federation of Accountants’ Professional Accountants in Business Committee has issued proposed guidance on supplementary financial measures such as EBITDA, free cash flow and underlying profit.

A post-implementation review of the Financial Accounting Standards Board’s fair value measurement standard by FASB’s parent organization found the standard generally met its objectives, even though some investors have difficulty understanding fair value information provided in the financial statements, and their level of satisfaction with the information varies.