Audit

The Financial Accounting Standards Board has issued an exposure draft of proposed changes in the standards for financial reporting about troubled debt restructurings.

FASB RETOOLS STANDARDS FOR PENSION PLANS

A majority of members of the Blue Ribbon Panel on Standard Setting for Private Companies voted in favor of establishing a separate standard-setting board for private company accounting at a meeting Friday, but will wait until December to issue its final recommendations.

The International Accounting Standards Board has amended its standards on financial instrument disclosures to beef up the disclosure requirements for financial asset transfer transactions such as securitizations, and discourage questionable balance-sheet “window dressing.”

The Public Company Accounting Oversight Board is taking a new approach to getting its inspectors in the door of auditing firms outside the U.S. that claim they can’t be inspected because of legal restrictions from foreign officials.

Accounting Today’s Growth and Profitability Summit is taking place November 17-18, 2010 at the Wynn Resort in Las Vegas.

The Center for Audit Quality is partnering with three other organizations to develop ways to deter and detect financial reporting fraud.

AICPA president and CEO Barry Melancon is calling for the Financial Accounting Foundation to set up a separate standards board for private company accounting.

The American Institute of CPAs has sent the Financial Accounting Standards Board a letter criticizing FASB’s proposal to account for nearly all financial instruments at fair value.

Internal auditors who combine likable personality traits with well-presented arguments do better at influencing managers’ accounting judgments and financial reporting estimates than auditors who are rude and provide information in a jumbled way, according to a new study.

IMGCAP(1)]Check out the digital edition of the October 11, 2010 issue of Accounting Today.

The Public Company Accounting Oversight Board has released a report summarizing the types of problems its inspectors encountered at auditing firms in the wake of the economic crisis.

Wayne Carnall, chief accountant of the Securities and Exchange Commission’s Division of Corporate Finance, has been seeing so many hits on the SEC’s website lately that he’s comparing the agency to pop sensation Lady Gaga.

The Institute of Chartered Accountants in England and Wales has told the U.S. Financial Accounting Standards Board that FASB’s proposed rules for financial instruments accounting would make financial statements harder to understand and complicate the convergence process.

The Financial Accounting Standards Board and the International Accounting Standards Board have completed the first phase of a joint project to develop an improved conceptual framework for future accounting standards.

During my search for a job while in college, I was offered two posts - a part-time hockey referee or a job as a waiter at a now-defunct budget steakhouse chain.

The Securities and Exchange Commission voted unanimously on Friday to propose requiring public companies to disclose more information to investors about their short-term borrowing arrangements.

The Financial Accounting Standards Board is asking for input on how to improve the accounting for insurance contracts in financial reports through a new discussion paper.

Financial Accounting Standards Board technical director Russell G. Golden has been appointed a member of the board, filling one of three vacancies on the newly expanded panel.

We asked candidates for our Top 100 Most InfluentialPeople in Accounting the following question: