International accounting

The board is proposing to make the standards it inherited last year more applicable across the globe.

The Institute of Singapore Chartered Accountants and the Kampuchea Institute of CPAs and Auditors signed a memorandum of understanding.

The Public Company Accounting Oversight Board found problems in its initial audit firm inspections in China.

Among the four biggest global accounting firms, Ernst & Young is likely to be the most exposed to Beijing's crackdown on U.S.-linked auditors, as it stands to lose about a 10th of its China revenue.

Jan Du Plessis took over Britain's Financial Reporting Council last year following a series of scandals that left investors nursing heavy losses.

He formerly chaired the U.K. Accounting Standards Board and the IFAC's Public Sector Committee, which became the International Public Sector Accounting Standards Board.

The International Federation of Accountants is looking for an outstanding individual to become its next leader.

The two men were named by the retailer in 2019 following a forensic probe by PwC that uncovered $7.2 billion of irregular transactions.

The bank should have booked provisions for more than $20 billion worth of government bonds that it had accumulated in its portfolio, the auditor said.

The board proposed revisions to its current going concern standard with the goal of improving transparency and consistent practices.