International accounting

A string of high-profile scandals have pushed the work of the world’s biggest auditors back into the spotlight.

The International Accounting Standards Board proposed to reduce the disclosure requirements for eligible subsidiaries under International Financial Reporting Standards.

Even as Mike Lynch faces potential extradition to the U.S. on fraud charges, those who have stayed loyal to him are reaping the rewards.

The U.K.’s industry regulator said it was “unacceptable” that for the third year running the accounting firm’s work wasn’t up to scratch.

The hospital operator’s founder said the firm enjoyed a “deep and cozy” relationship with executives at the troubled company.

The Institute of Management Accountants officially appointed J. Stephen McNally as chair of the IMA’s global board of directors, and he plans to focus on the organization’s growing presence internationally.

Accounting firms are restricting corporations from holding the cryptocurrency as assets even as they give free rein to venture capital firms to invest in equally risky and volatile unicorns.

The Malaysian government is seeking more than $5.6 billion from the auditors over their role in auditing the state investment fund.

The South African-Dutch-German retailer may soon release a revised proposal to resolve more than $8 billion of legal claims after a previous deal recently fell through.

IFAC signed an agreement with two global health groups to improve accounting practices in the public health sector.

Sustainability reporting standards, as well as assurance services to verify that reporting, vary widely across jurisdictions and individual practitioners and require better standardization.

KPMG U.K. Ltd. faces a 15 million pound ($21 million) fine after it committed “gross misconduct” over a conflict of interest when it advised bed manufacturer Silentnight and the private equity firm that bought it in 2011.

The Big Four firm is investing in an overhaul targeting better audits, digitization of services and greener operations.

PricewaterhouseCoopers is restructuring its U.S. firm into two business segments, and redefining its global strategy around the concept of trust.

The International Auditing and Assurance Standards Board issued two new implementation guides Monday for its recent quality management standards.

A failed oil trader in Singapore that owes creditors more than $3.5 billion is suing Deloitte & Touche LLP, alleging the auditing firm failed to detect “serious irregularities” in its financial statements for more than a decade.

Almost three-quarters of inspections showing sub-par work, according to the watchdog.

International Accounting Standards Board chair Hans Hoogervorst is looking back at the growth of International Financial Reporting Standards as his decade running the IASB is set to end this month.

The IFRS Foundation is looking for a chair and vice-chair of a board that will set global ESG reporting standards.

The International Accounting Standards Board proposed a comprehensive framework for management discussion and analysis to better align with investor needs.