Audit

The head of a British accounting group is warning the U.S. Securities and Exchange Commission and the Financial Accounting Standards Board against pursuing a so-called “condorsement” approach to International Financial Reporting Standards.

IMGCAP(1)]In mid-2011, the American Institute of CPAs established a Service Organization Controls reporting framework in hopes of providing the public and CPAs with a clearer understanding of the reporting options for service organizations.

Accounting Today handed out the awards for the Best Accounting Firms to Work For 2011 at the Accounting Today Growth & Profitability Summit in Las Vegas.

U.S. and Hong Kong accounting organizations have inked a five-year mutual recognition agreement that would allow reciprocity between U.S. and Hong Kong CPAs.

More than half of global businesses are unaware of pending lease accounting changes that would virtually eliminate the use of off-balance sheet leases, according to a new survey by Grant Thornton.

Financial Accounting Standards Board chair Leslie Seidman gave a cautious thumbs-up to the so-called “condorsement” approach to incorporation of International Financial Reporting Standards in the U.S., while defending FASB’s authority over private company accounting standards.

The National Association of State Boards of Accountancy has launched a new Web site, CPAverify.org, that provides a central database of state licensee information about CPAs practicing across the U.S.

The Securities and Exchange Commission plans to hold its inaugural roundtable in the Financial Reporting Series on “Measurement Uncertainty in Financial Reporting.”

The Financial Accounting Standards Board has released two proposed accounting standards updates to clarify the criteria for investment company accounting and develop guidance for investment property accounting.

Unlike Texas Governor Rick Perry, I personally do spend time mulling over the immigration status of Mitt Romney's lawn care crew.

CPA2Biz, the American Institute of CPAs’ business unit, will be introducing e-reader publications, a mobile site and mobile apps.

The American Institute of CPAs said the Canadian Institute of Chartered Accountants and CMA Canada are in talks about creating a unique CPA designation in Canada and combining it with their CA and CMA designations.

The American Institute of CPAs passed a resolution Tuesday at its Fall Meeting of Council that would give its board of directors the ability to consider the option of creating a separate committee or board to develop accounting standards for private companies.

The American Institute of CPAs presented the results of a research project forecasting where the accounting profession will be in 2025.

The American Institute of CPAs and the Chartered Institute of Management Accountants intend to officially launch their new Chartered Global Management Accountant credential on January 31.

The American Institute of CPAs has launched a new letter-writing campaign aimed at pressuring the Financial Accounting Foundation to set up a separate standard-setting board for private company accounting.

The Public Company Accounting Oversight Board published previously nonpublic portions of its inspection report from 2008 of Deloitte & Touche LLP after the firm failed to address problems with its audit procedures after a 2007 report.

As someone who works within a 3-wood from New York's financial markets, I found myself wandering over during a lunch hour to see for myself the five weeks and counting spectacle of the Occupy Wall Street protestors.

The Institute of Certified Management Accountants, the certification division of the Institute for Management Accountants, launched the new simplified Chinese language version of its two-part Certified Management Accountant exam.

Chief financial officers and investors have increased their support for global accounting standards since the start of the economic crisis in 2008, according to an international survey published Thursday by the global Association of Chartered Certified Accountants.