International accounting

The FRC is toughening up the regulation of Britain’s biggest auditors, as the sector faces heavy criticism over a string of high-profile finance scandals.

The International Auditing and Assurance Standards Board released a revised standard Thursday to focus on the special considerations that apply to audits of group financial statements.

The IFRS Foundation is teaming up with CPA Canada to set up a Montreal center for the new board, in addition to a location in Frankfurt, Germany.

Accountants globally are expressing more economic optimism in the first quarter of the year, according to a new survey, but they see risks ahead.

The board released an exposure draft of a proposed standard for multi-employer retirement plan obligations.

The revised draft rules deleted the requirement that on-site inspections should be mainly conducted by Chinese regulatory agencies or rely on their inspection results.

Board staff called attention to some important considerations for auditors as they plan and perform audits that may be affected by the ongoing war in Ukraine.

Chinese authorities are preparing to give U.S. regulators full access to auditing reports of the majority of the 200-plus companies listed in New York as soon as the middle of this year.

The board unveiled two proposed standards for general sustainability-related and specific climate-related disclosure requirements.

Professional accountants have an important role in driving better tax education.

The board said Thursday that it is still meeting with Chinese authorities to discuss the ability to inspect auditing firms in that country.

A Munich court opened a class-action style procedure to hear cases brought by investors who claim EY violated its duties when auditing the now bankrupt payment company.

The board is reportedly making progress on talks with Chinese authorities on enabling access to inspections of local firms.

China and the U.S. should be able to reach an agreement on the auditing dispute, according to a senior executive at China’s top investment bank.

The Munich prosecutors’ office reportedly filed a series of charges against former CEO Markus Braun.

The Arizona-based firm teamed up with Terán Rojas & Associates.

Their combined association is indefinitely suspending services in Russia and Belarus in response to the war in Ukraine.

The Big Four have concluded that business ties to the country are untenable in the wake of its invasion of Ukraine.

The board is proposing a set of revisions to the independence standards for engagement teams working on audits of group financial statements.

Two directors at a real estate firm that borrowed millions from the U.K.’s pandemic loan program are being probed for preparing misleading financial statements.