Financial reporting

The International Integrated Reporting Council has signed a memorandum of understanding with the Global Initiative for Sustainability Ratings in which the two groups pledge to work together to promote and support the global alignment of corporate reporting and ratings frameworks.

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MF Global Holdings Ltd., which filed for bankruptcy after a failed $6.3 billion bet on bonds of some of Europe’s most indebted nations, sued PricewaterhouseCoopers LLP for $1 billion, alleging accounting malpractice helped bring down the brokerage company.

Public Company Accounting Oversight Board member Steven Harris said the major auditing firms should begin providing their own financial statements to the PCAOB.

The accounting profession's expectations for economic growth headed downward again, with drops in both their short-term and mid-term forecasts, according to the March edition of Accounting Today’s monthly Accountants Confidence Index.

The Governmental Accounting Standards Board voted unanimously Monday not to delay the implementation date of its new pension accounting and financial reporting standards, despite requests from various groups for an indefinite delay.

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The American Institute of CPAs’ Conflict Minerals Task Force has developed nonauthoritative guidance to help companies deal with the conflict minerals reporting requirements of the Dodd-Frank Act and Securities and Exchange Commission regulations.

The Financial Accounting Standards Board issued guidance Thursday to make it easier for private companies to report on consolidation of variable interest entities.

The Financial Accounting Standards Board and the International Accounting Standards Board remain at odds over crucial elements of their lease accounting standards after joint meetings this week, but said they are still committed to reducing the distinctions.

The American Institute of CPAs has begun offering a forensic accounting mentorship program. The Certified in Financial Forensics Mentor Program is designed for AICPA members who want to develop their skills and business practices in forensic accounting with the help of more experienced forensic professionals.

Last November, the Financial Accounting Standards Board endorsed simplifying the accounting standards that private companies use in measuring and reporting goodwill, and FASB is currently looking into the possibility of changing the standards for public companies too.

Accounting Today is looking for speakers for its upcoming annual Growth & Profitability Summit.

NCCPAP sets up a Shiva for Shelley Kronowitz …

The New York State Society of CPAs is asking the Financial Accounting Standards Board to expand a proposal that would standardize the treatment of foreclosed properties when they are backed by a loan from the U.S. Department of Housing and Urban Development beyond the residential developments that were the focus of the original draft proposal.

The members of the American Board of Forensic Accounting, the advisory board behind the American College of Forensic Examiners Institute’s Certified Forensic Accountant credential, have unanimously resigned amid questions about the legitimacy of the credential and the organization behind it.

The International Financial Reporting Standards Foundation and the International Accounting Standards Board are reaching out to Islamic countries to elicit their support for IFRS, with a working group dedicated to making sure the standards don’t conflict with Sharia law.

The Governmental Accounting Standards Board has released a new online pension implementation toolkit to help preparers, auditors, and users of state and local government financial reports understand and apply the revised pension accounting and financial reporting standards

The firms with the highest 2013 revenue growth in our Top 100 Firms/Regional Leaders list

Some key trends spotted in Accounting Today's annual ranking of the Top 100 Firms and Regional Leaders.