Audit

House Committee on Small Business chairwoman Nydia Velázquez, D-N.Y., has written to the chairmen of two other House committees asking for changes in health care reform legislation to reduce the burden on small businesses.

The Public Company Accounting Oversight Board has voted to adopt a new auditing standard on engagement quality review and to issue a concept release on requiring the engagement partner to sign the audit report.

The Financial Crisis Advisory Group has published a report concluding that accounting standards are not to blame for the economic crisis.

IMGCAP(1)] As a new or young accountant there are a number of responsibilities and challenges on your plate.

Daniel L. Goelzer was named acting chairman of the Public Company Accounting Oversight Board and will take office August 1.

New York State CPAs are facing a Sunday deadline to register with the State Education Department under a recently passed law.

Slightly more than half of small and midsized businesses prefer to have a separate set of accounting standards for private companies, according to a new survey by Deloitte.

The Public Company Accounting Oversight Board has scheduled an open meeting next week to discuss making changes in engagement quality auditing and sign-off requirements.

Ernst & Young will have to pay $10.2 million in damages after a Florida jury determined that the firm was negligent in its audits of the now-defunct Sovereign Bank.

The International Accounting Standards Board has issued amendments to its rules for companies adopting International Financial Reporting Standards for the first time to allow some exemptions.

CCH has created new software to make the audit process more efficient.

The Center for Audit Quality has re-elected four members of its governing board.

Seven in ten Americans ages 45-74 say they plan to work in retirement or never retire, according to AARP. In stark contradiction to the single paradigm of “retirement” as an end to work, older Americans are redesigning the whole notion of life and work.

The task of making financial reporting simpler and more useful isn’t so simple as one might hope, according to several influential accounting officials who met to discuss the problem.

Small-business owners and industry representatives told a House committee that the tax breaks in the stimulus package passed by Congress in February have helped some companies.

The Senate has voted unanimously to reauthorize the Small Business Innovation Research and Small Business Technology Transfer programs for eight more years and make several changes to the programs that provide monetary awards to small businesses.

The Public Company Accounting Oversight Board has released reports on the audit deficiencies that its inspectors found last year at BDO Seidman and Grant Thornton.

The International Accounting Standards Board has proposed changing the accounting standards for measuring and classifying financial instruments in response to concerns raised by the financial crisis.

The Center for Audit Quality’s Research Advisory Board has chosen five auditing-related academic research projects to fund.

Web 2.0 technologies like XML, web services and social networking have taken off like wildfire and have caught many accounting professionals off-guard.