Audit

The profession's confidence in the U.S. economy is growing even more strongly than before, according to the March edition of Accounting Today’s monthly Accountants Confidence Index.

Even as top executives at failing companies dump their shares, auditors of those same companies often fail to issue a going concern opinion to warn other investors of the precarious nature of the corporation’s finances.

Audit and risk management product maker ACL has released version 4 of its Analytics Exchange (AX) product —formerly ACL AuditExchange – with enhancements designed to enable adjacent departments, including finance, risk and compliance, to identify control deficiencies such as fraud and revenue leakage.

The Public Company Accounting Oversight Board released previously nonpublic portions of two of its inspections of PricewaterhouseCoopers on Thursday, saying the firm had failed to address the PCAOB’s quality control criticisms.

A Texas lawmaker who also operates a CPA practice has introduced a pair of bills in the Texas legislature that would exempt CPAs who prepare financial statements for small businesses from the state’s mandatory peer review program, and ensure at least two sole practitioners are represented on the Texas State Board of Accountancy.

The International Accounting Standards Board has published revised proposals for loan loss provisioning as part of the financial instruments project that it has been working to converge with the U.S. Financial Accounting Standards Board, but the two proposals still take different approaches.

The top concerns of global accounting leaders, according to a new survey, included the needs of small- and medium-sized practices and small- and medium-sized entities and the reputation and credibility of the profession.

The Financial Accounting Standards Board may be changing its rules on business segment reporting or issuing additional guidance in response to questions raised during a post-implementation review of a 16-year-old standard.

The Securities and Exchange Commission has reappointed Public Company Accounting Oversight Board members Steven B. Harris and Jay D. Hanson for five-year terms.

The American Institute of CPAs and the National Association of State Boards of Accountancy have extended their multi-year agreement with Prometric for delivering the computer-based Uniform CPA Examination across its network through 2019.

The Monitoring Board of international regulators overseeing the IFRS Foundation has chosen Japanese regulator Masamichi Kono as its chairman, while also choosing a new way to assess the membership criteria.

Muddy Waters LLC, whose analyst reports triggered $7 billion in losses for Chinese stocks, used an unlikely secret weapon for its research: the public website of the U.S. Securities and Exchange Commission.

Our first annual scorecard for new SEC audit clients

A roundup of audit and attest news from the previous month

The Private Company Council that will help set accounting standards for privately held businesses has decided to tackle three main projects for its agenda.

New memberships, Decosimo Corporate Finance expands its sell-side advisory practice and more…

The Governmental Accounting Standards Board said Thursday that a post-implementation review of two of its accounting standards for state and local governments had achieved their intended purpose.

Our first annual scorecard for new SEC audit clients

Deep flaws in month-end reconciliation processes create distrust in finance departments in the U.S. and Europe, leaving only 28 percent of respondents willing to trust the reported numbers, according to a new survey of financial professionals.

The London School of Business & Finance partnered with e-learning provider InterActive on the launch of InterActive TV, or IATV, an online channel that will broadcast accounting-related content for free 24 hours a day.