Audit

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

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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.

Electronic confirmation service Confirmation.com pointed out Monday that its system helped uncover a more than $200 million fraud perpetrated by Peregrine Financial Group’s PFGBest unit.

Effective internal controls reasonably prevent material misstatements in financial reporting and fraud, but poor internal controls have hurt businesses, investors and the public accounting profession.

Less than half of senior insurance executives from companies around the world believe the U.S. should abandon U.S. GAAP standards in favor of International Financial Reporting Standards, according to a new survey.

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The Public Company Accounting Oversight Board has entered into a cooperative agreement with the Spanish auditing firm regulator to allow joint inspections to begin this year for firms in Spain and the U.S.

The Financial Accounting Standards Board said it is taking a different approach than the International Accounting Standards Board in the impairment of financial instruments after a joint meeting Wednesday.

The assurance, tax, and consulting firm intends to fill 300 to 500 positions to its new corporate headquarters

The Securities and Exchange Commission’s final staff report on International Financial Reporting Standards seemed to bend over backwards to avoid making a recommendation to the SEC commissioners on how they should vote, but with all the many drawbacks listed in the report, it’s questionable how the SEC could ever vote at this point to support IFRS.

The revolving door between the Securities and Exchange Commission and the financial industry is not as big a problem as it is seems to outside observers, according to a new study.

Unraveling the SEC's intentions -- and even it's timeline -- on IFRS requires special expertise ...

The multimedia site will share tips on how to minimize fraud risk and mitigate damage through podcasts, videos and webinars