Audit

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.

Financial Accounting Standards Board Chairman Robert Herz plans to retire after more than eight years of leading the board, which will now increase in size to seven members.

The Government Accountability Office is making changes to Government Auditing Standards, commonly known as the Yellow Book.

The leader of a trade association representing the equipment finance sector criticized the new accounting standards for leasing contracts proposed by the Financial Accounting Standards Board and the International Accounting Standards Board this week.

Golden Gate University plans to offer a forensic accounting certificate completely online in the fall semester.

The Financial Accounting Standards Board has voted to extend the comment period by an additional 30 days for its proposed standards on the disclosure of loss contingencies.

Only 45.3 percent of organizations conduct even limited reviews of the appropriateness of their executive compensation and benefit programs, according to a new survey by the Institute of Internal Auditors.

The Financial Accounting Standards Board and the International Accounting Standards Board have published their long-awaited joint proposals for overhauling the accounting standards for lease contracts.

The Securities and Exchange Commission is asking the public for feedback on its plans for incorporating International Financial Reporting Standards into the financial reporting system for U.S. issuers.

Russell W. Hinton of Atlanta and Peter Hughes of Orange County, Calif., are the 2010 recipients of the American Institute of CPAs’ Outstanding CPA in Government Award.