Audit

The Securities and Exchange Commission’s custody rule governing investment advisors’ custody of client assets imposes various requirements and, in turn, costs on investment advisors, according to a new report by the Government Accountability Office.

IT, accounting and finance administrative processes dominate the future outsourcing plans of major companies, according to a new survey by KPMG.

The Financial Accounting Standards Board is issuing a new accounting standards update on Monday that defers indefinitely certain disclosures about investments held by nonpublic employee benefit plans in their plan sponsors’ own nonpublic equity securities.

The Government Accountability Office recommended in a new report that the Securities and Exchange Commission should consider requiring public companies where applicable to explicitly disclose whether they obtained an auditor attestation of their internal controls.

New websites, scholarships, food drives and more…

New hires, promotions and more…

The Governmental Accounting Standards Board has issued for public comment a proposed statement regarding the transition provisions of GASB’s new pension standards for state and local governments with the goal of eliminating a potential source of understatement of restated beginning net position and expense in a government’s first year of implementing GASB’s new pension accounting standards.

The Financial Accounting Standards Board and the International Accounting Standards Board plan to host a series of joint public roundtable meetings on different continents to discuss their revised joint proposals on leasing standards that were published in May.

The Securities and Exchange Commission’s enforcement division is launching three new initiatives to combat financial reporting and microcap fraud and enhance its risk analysis capabilities with the use of sophisticated analytical technology.

A former senior KPMG LLP partner, Scott London, pleaded guilty to leaking confidential information about the audit firm’s clients to a friend who made more than $1 million trading on the inside information.

The Financial Accounting Standards Board has issued for public comment three proposals to address the concerns of private companies about accounting for intangible assets acquired in business combinations, goodwill, and certain types of interest rate swaps under U.S. GAAP.

The Financial Accounting Foundation launched an updated website Monday in conjunction with new leaders at the two standard-setting boards it oversees, the Financial Accounting Standards Board and the Governmental Accounting Standards Board, while also reviving an old dispute with the American Institute for CPAs over financial reporting standards by private companies.

Useful truth in accounting should be magnified, not vilified

Applying FASB's recently proposed standards to a real company

Useful truth in accounting should be magnified, not vilified

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

Acknowledgements, office relocations and more…

The Financial Accounting Standards Board is expected to issue a document Thursday proposing to improve the financial reporting of insurance contracts, including the measurement of insurance liabilities and the related effect on the statement of comprehensive income.

The Financial Accounting Standards Board has issued a proposal to improve disclosures of uncertainties related to an organization’s ability to continue as a going concern.

Actor Stacy Keach, who narrates the CNBC TV series “American Greed,” praised the efforts of the fraud examiners whose efforts put behind bars many of the perpetrators whose crimes are chronicled on his show.