Audit

Leslie Seidman, the outgoing chair of the Financial Accounting Standards Board, spoke about her experiences leading the board and its work on the upcoming revenue recognition standard during a sometimes emotional speech Wednesday that will be the last of her term.

Secure audit confirmation service provider Confirmation.com has enhanced its international capabilities by providing multilingual user interfaces of its online platform.

The International Federation of Accountants held its seventh annual IFAC Small and Medium Practices Forum on Wednesday, gathering 175 delegates from 33 accounting organizations across 30 countries for the conference in Kampala, Uganda.

The Committee of Sponsoring Organizations of the Treadway Commission, also known as COSO, has named Robert B. Hirth Jr., a founding managing director of the consulting firm Protiviti, as the new chairman of the organization for a three-year term, effective Monday.

Big Four firm leads among national firms with seven net new clients

Audit and attest news from the previous month

The Public Company Accounting Oversight Board identified deficiencies in half the audits it examined during its newly released inspection report on McGradrey LLP.

The Financial Accounting Standards Board responded to a post-implementation review of its accounting standard for business combinations by saying that it would consider the findings of the report, along with an upcoming post-implementation review of its fair value measurement standards, and may make changes once the International Accounting Standards Board concludes its own post-implementation review of the corresponding International Financial Reporting Standards.

Research series, FASB conducting field study, Best Places to Work and more…

The Securities and Exchange Commission is reportedly preparing to turn its attention to accounting fraud cases after being diverted in recent years to Ponzi schemes and subprime mortgage fraud in the wake of the financial crisis.

A new academic study argues that proposed changes in fair value measurement by the Financial Accounting Standards Board would make it harder to assess the financial soundness of banks, and it’s co-authored by a member of the FASB board.

Audit and risk management product maker ACL has officially launched ACL GRC, it’s first data-driven, cloud-based governance, risk management and compliance product.

The American Institute of CPAs has introduced a new certificate program for accounting firms expanding their financial forensics practice.

The Public Company Accounting Oversight Board released a report Tuesday on its 2012 inspection of Deloitte & Touche LLP, indicating that it found problems in 12 of the 51 audits performed by the firm that it inspected and in one other audit in which the firm was involved.

Scholarships, office relocations and more...

The Public Company Accounting Oversight Board said Friday that it has entered into a memorandum of understanding on enforcement cooperation with the China Securities Regulatory Commission and the Ministry of Finance, in a breakthrough on a long-running priority for the PCAOB that also stops short of inspections.

The Public Company Accounting Oversight Board has made public previously confidential quality control criticisms from its 2009 inspection of Ernst & Young LLP after finding that the firm failed to address them to the board’s satisfaction.

A post-implementation review of the Financial Accounting Standards Board’s business combinations standard found lingering questions in the minds of some investors, particularly about fair value, despite improvements in the usefulness of the information.

Audit and risk management product maker ACL had released ACL Analytics version 10 - formerly known as ACL Desktop – with enhancements to allow risk, compliance, audit, IT and financial control professionals to uncover business risk in organizational data and an integration with a forthcoming governance, risk and compliance management product.

Significant differences remain between U.S. GAAP and International Financial Reporting Standards, but cooperation and progress continues on some remaining joint projects, according to a new report from Fitch Ratings.