Audit

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.

The Securities and Exchange Commission has adopted that latest update to the U.S. GAAP Financial Reporting Taxonomy for filing financial statements using Extensible Business Reporting Language, or XBRL.

The American Institute of CPAs voted to allow changes in the definition of “attest” during its Spring Meeting of Council on Sunday in an effort to fend off competition from non-CPA firms and unlicensed CPAs who offer attest services using AICPA standards.

Fraud fighters today face many of the same challenges as they did at the start of the last century, a leading investigator told accountants, academics and attorneys at the Fraud & Forensic Accounting Education Conference May 16 in Atlanta.

Best places to work for recent graduates, office relocations and more...

The Tax & Accounting business of Thomson Reuters launched its sixth annual series of Partner Summits this week with a two-day event in Houston.

Big Four firm KPMG led the pack among large and national firms in the market for Securities and Exchange Commission audit clients in the first quarter of 2013, with a net of seven new clients.

The Financial Accounting Standards Board is looking for comment on proposed structural changes to the U.S. GAAP Taxonomy.

The Financial Accounting Standards Board and the International Accounting Standards Board have released for comment a revised exposure draft proposing significant changes to the standards for accounting for leases.

Top 100 Firm Kahn, Litwin, Renza & Co. announced the opening of KLR Emerging Business Center. The center will provide co-working office space and accounting services to start-up and emerging companies.

New York State Attorney General Eric Schneiderman and the chairmen of some key legislative committees have proposed a major overhaul of state laws governing the nonprofit sector in the first major reforms in 40 years, including improved oversight of audits by the charity's board and the hiring of independent auditors.