Audit

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:

The Financial Accounting Standards Board intends to host two public roundtable meetings to solicit input on private company accounting and reporting issues.

IMGCAP(1)]Inherent conflicts between regulatory restrictions on financial services companies and certain transfer pricing methods become more apparent during times of increased market volatility and can lead to regulatory problems for taxpayers.

A pair of former executives standing trial for embezzling from the Russian oil company Yukos are claiming that PricewaterhouseCoopers withdrew its certified audits under pressure from the Kremlin.

The Public Company Accounting Oversight Board plans to host a public roundtable on its proposed standard for auditors’ communications with audit committees on Sept. 21, and is re-opening the comment period on the proposal until Oct. 21.

The Public Company Accounting Oversight Board has written to Congress with a draft bill that would amend the Sarbanes-Oxley Act to allow it to make its disciplinary hearings of accounting firms and auditors public.

The Financial Accounting Standards Board has issued a proposed set of standards that aim to shed more light on the financial reports of organizations that participate in multi-employer pension plans and other post-retirement benefit plans.

The Financial Accounting Foundation and the Securities Exchange Commission have released a proposed 2011 U.S. GAAP Financial Reporting Taxonomy that public companies will be expected to use when filing their financial reports with the SEC.

The Texas Society of CPAs pointed to what it sees as several problems in the Financial Accounting Standards Board’s proposed standards for financial instruments in a stinging letter addressed to the board.

A group of investors has filed a securities fraud lawsuit against Ernst & Young for its audits of a failed Texas hedge fund connected with H. Ross Perot.

Leslie Seidman has been a member of the Financial Accounting Standards Board since July 2003 and is set to become acting chairman of the board on Oct. 1.

Barney Frank once urged Financial Accounting Standards Board Chairman Bob Herz not to let the FASB become the “Slows-B” when it came to revamping accounting standards in the midst of the financial crisis, and Herz certainly isn’t being slow when it comes to his just-announced retirement.