International accounting

The French company that claims to hold the trademarks of the former Big Five accounting firm Arthur Andersen & Co. sent Accounting Today a copy Friday of the lawsuit it filed against Andersen Tax over the rights to the Andersen brand, alleging the use of forged documents and an attempt to obtain court rulings using forgeries.

Already reeling from a $4.5 billion bill to save its ailing No. 1 lender, Ukraine is now bracing for an even costlier rescue, and says audits by PwC’s local office were instrumental in the bank’s failure.

Proxy adviser Glass Lewis & Co. blasted Toshiba Corp.’s board for poor governance amid repeated scandals and recommended investors vote against all directors at the company’s shareholders meeting later this month.

The French firm that has taken the Arthur Andersen & Co. name is suing Andersen Tax LLC, accusing it of forgery and other crimes, as the battle over the Andersen name heats up.

A Grant Thornton firm in the West Indies has merged in a former BDO firm to expand its presence in the Caribbean.

BDO’s global network of accounting firms has named Keith Farlinger as CEO of BDO International, succeeding Martin van Roekel, on Nov. 1, 2017.

A regulatory probe into PricewaterhouseCoopers LLP related to Tesco Plc’s accounting scandal was dropped as the Financial Reporting Council said there was little chance of an adverse finding in the case.

Andersen Tax has notched another win in its legal battle against a French rival that announced this year it had reconstituted the Arthur Andersen network with offices opening around the world.

Trustees of the IFRS Foundation met Thursday with Japan’s Financial Accounting Standards Foundation to issue a joint statement reaffirming a commitment to global accounting standards as more Japanese companies move to adopt International Financial Reporting Standards.

The long-awaited IFRS 17 will provide more consistent treatment for all types of insurance in different countries.

The IFRS Foundation has signed a memorandum of understanding with the World Bank to help developing countries use International Financial Reporting Standards.

Grant Thornton International has named Peter Bodin, the former CEO of Grant Thornton Sweden, as CEO-elect, succeeding Edward Nusbaum, who will retire at the end of the year.

PricewaterhouseCoopers’ firm in the United Kingdom was fined a record £5 million ($6.4 million) by the U.K.’s Financial Reporting Council for its audits of Connaught, a social housing maintenance business that collapsed in 2010.

A French firm that claimed the Arthur Andersen name has lost a legal ruling in India against Andersen Tax, a few weeks after another setback in the U.S.

The Association of Chartered Certified Accountants welcomed top officials from some of the world’s leading accounting organizations to an event highlighting the growing importance of integrated reporting.

The IFRS Foundation, the group that oversees the International Accounting Standards Board and its work on International Financial Reporting Standards, issued its annual report for 2016 on Tuesday, with a look ahead at where global standards are expected to go this year.

Mandatory change of auditing firms and engagement partners doesn’t necessarily foster greater professional skepticism, according to new research.

The International Accounting Standards Board has proposed a set of minor amendments to the financial instruments standard to make it easier to implement.

The Public Company Accounting Oversight Board announced six settled actions against non-U.S. accounting firms late last month for failure to report certain disciplinary or regulatory actions against them in their home country.

The U.S. offices of a recently relaunched Arthur Andersen network have shut down as part of a legal settlement with one of the firms to resolve trademark infringement claims by Andersen Tax.