Audit

Mary Jo White has stepped to the front of the line of financial regulators moving aside for Donald Trump’s administration.

While putting the final touches on audit work papers and reports may feel like a huge relief, an auditor’s work isn’t finished.

Deloitte LLP and firm partner John Clennett got a record fine in the United Kingdom for misconduct after the U.K.’s accounting regulator said the audit and financial statements of Aero Inventory Plc fell short of acceptable standards.

The Financial Accounting Standards Board has issued a proposed accounting standards update for service concession arrangements, focused on determining the customer of the operation services.

The Financial Accounting Standards Board is refining the role of its Investor Advisory Committee to bring more of an investor perspective to the accounting standard-setting process.

Steve Ballmer is pretty bummed out about the election. A self-proclaimed "numbers guy," Ballmer said the truth is getting lost in the political rhetoric, and he wants to arm citizens with data to defend against lies by the campaigns. "Nobody seems to care about the facts," he said.

Top 6 Firm BDO USA brought on 15 new Securities and Exchange Commission audit clients in the third quarter, leading the auditor pack, while Hong Kong’s DCAW (CPA) Ltd. netted the most, with nine.

The New York State Society of CPAs has some recommendations for items that the Financial Accounting Standards Board should add to its to-do list.

Thomson Reuters has released Checkpoint Engage, an online audit solution.

The American Institute of CPAs’ Financial Reporting Executive Committee is asking for feedback on three new working drafts of guidance for broker-dealers and depository and lending institutions on the Financial Accounting Standards Board’s revenue recognition standard.