Audit

The Sarbanes-Oxley Act of 2002 has strengthened corporate governance and improved audit quality in the past decade, according to a new report by Ernst & Young, "The Sarbanes-Oxley Act at 10," which marks the 10-year anniversary of the landmark legislation.

While significant progress has been made in both technology and processes to establish best practices in audit management, a common pitfall remains for many organizations: disparate silos of information and business processes. These different workflows contribute to a new type of business risk -- the audit performance gap.

Grant Thornton's Stephen Chipman on the new Private Company Council

Odds have now turned against those hoping that the health care law passed in 2010 will "just go away."

The Financial Accounting Standards Board has issued a staff paper with recommendations on which criteria and circumstances should be used to determine when it is appropriate to adjust U.S. GAAP reporting requirements for private companies.

Critics of fair value accounting have indicted it as being the cause, or at least having exacerbated, the global financial crisis of 2007-2008.

The Financial Accounting Foundation is seeking people who would like to participate in a post-implementation review survey of how well its business combinations standard has worked.

As we acknowledge the 10th anniversary of the Sarbanes-Oxley Act, we are once again in a period of re-examination of the role, relevance, and reliability of financial audits in protecting investors and the public interest. This seems to be, in part, a reaction to the financial crisis of the past few years.

The International Accounting Education Standards Board has released a proposed revision of its professional development standard for educating accountants in values, ethics and attitudes.

A House subcommittee held a hearing to examine the impact of the Sarbanes-Oxley Act of 2002, which marks its 10th anniversary this coming Sunday.

Top 100 Firm Weaver LLP promoted a half dozen employees to partner, with Jayna Bovre named partner-in-charge of the Fort Worth office.

The Financial Accounting Standards Board has issued an accounting standards update intended to simplify the testing of indefinite-lived intangible assets, such as trademarks, licenses and distribution rights, for impairment.

Michael Bernstein succeeds Martin Greenberg

Recent promotions new hires and more

Firm News Recent network memberships, awards, new Web sites and more

The International Accounting Standards Board said Thursday that its staff will develop guidance to help “micro-sized entities” apply International Financial Reporting Standards for Small and Medium-sized Entities.

The Governmental Accounting Standards Board has issued an updated guide to help people better understand the financial statements of state and local governments.

The House has voted to audit the Federal Reserve, backing an issue promoted by Rep. Ron Paul, R-Texas, in his presidential campaigns.

The great majority of chief audit executives acknowledge that the internal audit function at their organization needs to be improved, according to a new survey.

The International Accounting Standards Board is headed toward a more multilateral approach in the formation of International Financial Reporting Standards, as the U.S. appears increasingly unlikely to throw its support behind IFRS this year.