Audit

The majority of executives in a new survey see a need for greater clarity about the Securities and Exchange Commission’s plans for International Financial Reporting Standards, according to a new survey by KPMG.

IMGCAP(1)]Now that many companies have tackled Sarbanes-Oxley compliance, what’s next for the internal audit function?

A series of freshly reconstituted “risk assessment” audit standards supported by the accounting industry have come under fire from the U.S. Government Accountability Office.

The Securities and Exchange Commission has approved a rule amendment from the Public Company Accounting Oversight Board giving the board the ability to postpone inspections of non-U.S. auditing firms for up to three years.

Company.com, an information portal for small and midsized businesses, has provided the following set of tips for small businesses to decrease their chances of being audited by the IRS.

The Senate has temporarily extended two provisions included in the Recovery Act that increase government guarantees and eliminate fees on small business loans.

Sen. John Thune, R-S.D., has introduced an amendment to a tax extenders bill that would create and expand small business tax incentives.

The wrangling over the fate of the Consumer Financial Protection Agency took another turn with the revelation that it may end up within the Federal Reserve.

The Securities and Exchange Commission voted last week to adopt a new rule to place certain restrictions on short-selling when a stock is experiencing downward price pressure.

The Securities and Exchange Commission has instituted public administrative proceedings against two former Ernst & Young auditors who failed to uncover the misappropriation of client funds by an investment advisor they were auditing.

Members have been named to a blue-ribbon panel to provide recommendations on accounting standards for privately held companies.

Schutte & Hilgendorf has expanded its audit practice to include governmental auditing and accounting services.

The Financial Accounting Standards Board discussed the standards for accounting for financial liabilities at a meeting Wednesday and how to address changes in an entity’s own credit risk of financial liabilities measured at fair value.

The Securities and Exchange Commission finally made its long-awaited decision on the IFRS roadmap, or did it?

The Securities and Exchange Commission voted unanimously to issue a statement affirming support for a single set of high-quality globally accepted accounting standards and ongoing consideration of incorporating International Financial Reporting Standards into the financial reporting system for U.S. issuers.

The Securities and Exchange Commission plans to conduct a seminar next month to help companies and preparers comply with rules that require financial reports to be filed using Extensible Business Reporting Language, or XBRL.

The Securities and Exchange Commission has received just over 200 comment letters since it posted its proposed roadmap for transitioning to International Financial Reporting Standards on its Web site in 2008, and it’s now receiving some extra suggestions as it prepares to publicly deliberate Wednesday on the roadmap.

The Securities and Exchange Commission plans to meet this Wednesday to consider a statement on International Financial Reporting Standards.

The Public Company Accounting Oversight Board has published a set of questions and answers from its staff to explain the documentation requirements behind the recently issued Engagement Quality Review standard.

The International Public Sector Accounting Standards Board has proposed a set of standards for service concession arrangements that governments establish with private businesses.