Audit

AUDIT FIRMS OFFER ADVICE ON NEW CLIENTS

The International Accounting Standards Board has proposed new standards that aim to simplify the accounting for hedging activities.

Harold Katz, one of the founders of the organization CPAs Reforming Our Profession, or CROP, has died at the age of 77.

The Institute of Internal Auditors has formed the IPPF Oversight Council, a multi-organizational group that will monitor the process for developing guidance within the International Professional Practices Framework.

Several years ago when an architect we hired for anaddition to our house unfolded his blueprints on the dining room table, theundisputed general contractor on the job (my wife) assumed the sort of facialexpression one makes when their pleasant-looking blind date doesn't resembleScarlett Johansson or Cristiano Ronaldo.

The Committee of Sponsoring Organizations of the Treadway Commission has initiated a project to review and update the COSO Internal Control - Integrated Framework.

The Financial Accounting Foundation said it would conduct post-implementation reviews of financial accounting and reporting standards issued by the two boards it oversees, the Financial Accounting Standards Board and the Governmental Accounting Standards Board.

A bipartisan task force has issued a plan to cut the size of the national debt and the federal budget deficit through taxes and other means.

Please do not adjust your set. This is still WebCPA, but now it’s been rechristened Accounting Today for the WebCPA.

The rules have changed for firms that perform interim reviews and year-end audits of client financial statements

BDO USA LLP kicked off the firm’s Centennial Partners Meeting on Monday.

The Public Company Accounting Oversight Board presented an interactive session on inspection case studies at its fourth annual International Auditor Regulatory Institute.

CEOs of accounting institutes from around the world met at the World Congress of Accountants in Malaysia, where they discussed the need for companies to report on non-financial results in areas such as social and environmental activities.

Chicago - Nearly half of the nation's chief financialofficers and senior controllers polled by global CPA and business advisory firmGrant Thornton say that the U.S. should not adopt international FinancialReporting Standards until after U.S. GAAP and IFRS have converged to the pointwhere the differences are inconsequential - a time frame of between five toseven years.

ifrs, foundation, iasb

The International Federation of Accountants has released a policy position paper to address how the accounting profession should be acting in the public interest, with a proposed definitional framework outlining those responsibilities.

The Securities and Exchange Commission voted unanimously to propose a whistleblower program to reward individuals who provide the agency with high-quality tips that lead to successful enforcement actions for financial fraud.

Obama administration officials awarded $1 billion in therapeutic discovery project tax credits and grants to nearly 3,000 companies around the country to support promising biomedical research projects.

The Financial Accounting Standards Board has issued an exposure draft outlining changes in the accounting standards for repurchase agreements such as the Repo 105 transactions that have been blamed for contributing to the collapse of Lehman Brothers.

The Securities and Exchange Commission has published its first progress report on the work plan related to the move to global accounting standards.