Audit

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.

Jim Kroeker has been overseeing accounting interpretations, professional practice issues, and international accounting matters at the Securities and Exchange Commission during a time of rapid economic change.

The Financial Accounting Standards Board and the International Accounting Standards Board reached some tentative decisions on how to revise fair value accounting standards during a joint meeting this week.

Rep. John Hall, D-N.Y., has proposed a new bill that would allow the Small Business Administration to offer its own loans to small businesses and increase tax deductions for small businesses.

The trustees of the International Accounting Standards Committee Foundation, which oversees the International Accounting Standards Board, have announced a series of changes to their constitution, including an emphasis on adoption of International Financial Reporting Standards over convergence.

SEC APPROVES ENGAGEMENT REVIEW STANDARD

More than half the respondents in a recent survey said they are confident their board would be prepared to disclose how it oversees risk in order to address the SEC’s new disclosure requirements.

At least a dozen major nations – including several of the USA’s top international trading partners – are continuing to slam the door on efforts by the Public Company Accounting Oversight Board to conduct cross-border inspections of non-U.S. audit firms as required by the Sarbanes-Oxley Act.

President Barack Obama has called for expanding the size of loans made through the Small Business Administration’s SBA Express program from $350,000 to $1 million.

iia, auditors, sec, proxy, disclosure

The Financial Accounting Foundation has a new responsibility: ongoing maintenance of the U.S. GAAP Financial Reporting Taxonomy in the new data-tagging format mandated by the SEC.