Audit

Debunking myths about market values – Part 1

Cloud-based audit confirmation software developer Capital Confirmation has raised $60 million to fund “aggressive international expansion.”

The Public Company Accounting Oversight Board approved its fiscal year 2017 budget of approximately $268.5 million, along with a strategic plan through 2020 to guide its programs and operations.

Vinci SA fell victim to a fake release claiming the French builder had fired its finance chief amid accounting irregularities, prompting the stock to plunge before the company denied the report.

Wesley R. Bricker has been named chief accountant of the Securities and Exchange Commission, succeeding James Schnurr, who is retiring.

The Financial Accounting Standards Board has released a proposed accounting standards update related to the scope of modification accounting for stock-based compensation.

The International Federation of Accountants has sent a letter to Pope Francis on how the accounting profession can help him with the fight against financial fraud and corruption.

Financial executives are coping with an onrush of new accounting standards that are taking effect in the next few years, along with demands from the Securities and Exchange Commission to temper their companies’ reliance on non-GAAP measures.

A 2009 accounting standard that state and local governments have been using for reporting on their fund balances and fund types has mostly achieved its original purpose, according to a new report.

LexisNexis Risk Solutions is highlighting International Fraud Awareness Week with a new public awareness campaign.

Public companies in the U.S. recorded $57 billion in goodwill impairment last year, more than double the amount of impairment they recorded the previous year, according to a new study.

The Financial Accounting Foundation's Board of Trustees has voted to restructure several of its own committees, along with oversight of the Private Company Council, disbanding the Private Company Review Committee that has been overseeing it.

Finance executives are getting ready for the incoming Trump administration with a multitude of changes expected on the regulatory side while also dealing with all the new accounting standards rolling out in the next few years.

The Financial Accounting Foundation’s board of trustees has reappointed Russell G. Golden to a second term as chairman of the Financial Accounting Standards Board and named two new members: Marsha L. Hunt, vice president and corporate controller at Cummins Inc., and Harold L. Monk Jr., a partner at the accounting firm Carr, Riggs & Ingram LLC.

The Financial Accounting Standards Board is planning to welcome new board members as the terms of several of its members end next year.

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.