Audit

CCH has introduced ProSystem fx Knowledge Coach for Comps & Reviews, a product that provides workflow tools for accounting firms that do compilations and reviews for clients.

The Public Company Accounting Oversight Board is finding more problems at the audit firms it is inspecting, not less.

PricewaterhouseCoopers took back the lead in global revenues from Deloitte Touche Tohmatsu, posting $29.2 billion in annual revenue worldwide.

The Financial Accounting Standards Board’s Not-for-Profit Advisory Committee has recommended a set of fundamental changes in the accounting rules for nonprofit organizations that would require them to explain their finances to donors and other interested parties in greater detail.

The Public Company Accounting Oversight Board has issued an alert to make auditors more aware of the risks they face when auditing companies with operations in emerging markets such as China.

The Financial Accounting Foundation’s board of trustees released a proposed plan Tuesday calling for the establishment of a new council that would be able to identify, propose and vote on improvements to U.S. accounting standards specifically for private companies, but the changes would still be subject to ratification by the Financial Accounting Standards Board.

The Financial Accounting Foundation is poised to release the proposals of its trustee working group for changing the structure and process of the Financial Accounting Standards Board's oversight of standards for private companies and nonprofits.

The Internal Revenue Service needs to take additional steps in order to expand its audits to include returns from prior or subsequent years when taxpayers being audited may owe substantial taxes.

Accounting Today has released its annual list of the Best Accounting Firms to Work For, which identifies and honors the best places of employment in the accounting industry.

H&R Block announced Thursday it will discontinue service under its ExpressTax brand, which primarily served early filers who wanted quick refunds and currently has 269 franchise offices.

While Southeast accounting firm Elliott Davis scored first in four categories of university and employer ranking Web site Vault.com’s Accounting Quality of Life Rankings for 2012, accounting firms shared the wealth in the other 11 categories.

A total of 33 state CPA societies representing over 275,000 CPAs have written letters so far to the Financial Accounting Foundation or passed resolutions urging the FAF to create a new accounting standard-setting board for privately held companies, according to the American Institute of CPAs.

Small and midsized enterprises are placing greater emphasis on sustainability strategy in tandem with their accounting, according to a new report.

The New York State Society of CPAs has written a comment letter opposing changes in the format of audit reports.

Deloitte & Touche has been sued by the trustees for a bankrupt mortgage lending company for failing to detect the financial fraud that led to the company’s collapse.

A new study has found a link between high auditing fees charged to public companies and the companies’ decline in financial performance for up to five years in the future.

The Private Company Financial Reporting Committee discussed proposed accounting standards for revenue recognition, leasing and investment properties during a meeting with members of the Financial Accounting Standards Board.

The Governmental Accounting Standards Board has extended the deadline until October 14 for constituents to comment on its recent proposals for improving the disclosures for pension accounting and financial reporting.

Deloitte Touche Tohmatsu global CEO Barry Salzberg led his firm to record revenues of $28.8 billion this past year.

The American Institute of CPAs has stepped up its campaign to dislodge control of private accounting standard-setting from the Financial Accounting Standards Board.