Audit

The Public Company Accounting Oversight Board plans to host six forums across the country on auditing in the small business environment, starting in June.

The Securities and Exchange Commission has voted unanimously to adopt rules requiring broker-dealers, mutual funds, investment advisers, and certain other entities regulated by the agency to adopt programs to detect red flags and prevent identity theft.

New accounting class-action lawsuit filings declined sharply last year after a spike in 2011, according to a new report, but settlement amounts in such cases have grown since 2011.

The European Union has been considering an overhaul of the audit profession that could have a far-reaching impact on the Big Four.

KPMG has resigned from its audits of the nutrition company Herbalife and footwear retailer Skechers after one of its senior auditors was discovered to be involved in insider trading.

Members of the Accounting Standards Advisory Forum held their inaugural meeting in London on Monday and Tuesday and signed a joint memorandum of understanding under which the standard-setters from around the world will provide advice to the International Accounting Standards Board.

The Internal Revenue Service is planning an 18 percent reduction in its audits of large businesses in the current fiscal year, according to a new report.

The former president and treasurer of the Washington, D.C., chapter of the Institute of Internal Auditors has been accused of embezzling over $30,000 from the organization.

An audit by the Government Accountability Office of the Securities and Exchanges Commission’s Investor Protection Fund financial statements for fiscal years 2011 and 2012 found two areas of significant deficiency in the SEC’s internal controls.

The Securities and Exchange Commission reminded corporate filers Friday that the forthcoming release of its EDGAR financial statement database will support 2013 U.S. GAAP Taxonomy, but not the older 2011 taxonomy.

Find out what accounting firm switched to the feline marketing craze…

Spending on outsourcing of accounting and finance functions is expected to reach over $25 billion around the world this year, according to a new report.

The Financial Accounting Standards Board is proposing improvements to financial reporting about discontinued operations of major business lines or major geographic areas of operations.

The Financial Accounting Standards Board has released a new implementation guide for the Extensible Business Reporting Language. This guide, the fifth in a series, focuses on modeling other comprehensive income transactions in XBRL.

CPA firms may be struggling to properly assess risk and document IT risk assessments, according to information compiled by the American Institute of CPAs from recent peer reviews.

We are republishing some classic Spirit of Accounting columns while we're extra-busy with a new major project. We selected this one because (alas!) several of its points are just as valid today as they were when it was printed in October 2002

The Ministry of Finance of Singapore announced its approval of a plan to phase out the Certified Public Accountant of Singapore designation in favor of the new “Charted Accountant of Singapore,” starting in July of this year.

A roundup of audit & assurance news from the previous month

A new report from the Public Company Accounting Oversight Board found that firms that audit 100 or fewer public companies showed a reduced rate of reported deficiencies in their 2007 through 2010 inspections, but in 2011, the rate of deficiencies showed little sign of declining.

Tax Freedom Day report is on its way, Plante Moran named employer of the year, BeachFleischman has launched an anti-fraud service and more...