International accounting

A high-powered group of U.S. regulators said stock exchanges should set new rules that could trigger the delisting of Chinese companies, following mounting concerns that investors are being exposed to frauds.

Intuit Inc. has agreed to acquire TradeGecko, a Singapore-based inventory and order management software platform for small retailers and wholesalers in more than 100 countries.

Former Wirecard AG Chief Executive Officer Markus Braun and two other former officials were arrested as prosecutors said the company knew about massive losses as early as 2015.

PrimeGlobal, an international association of independent accounting firms, reported 10 percent growth Tuesday in aggregate revenue of its member firms, reaching a total of nearly $3 billion for the fiscal year ending May 31, 2020.

The International Federation of Accountants called on national leaders to stay focused on long-term progress alongside their immediate priorities for the coronavirus pandemic.

IFAC, the IAASB and IESBA will remain involved in setting standards, but with changes in governance and composition.

The dominant accounting firms must do a better job of challenging their clients in order to reach a satisfactory level of audit quality, the industry’s U.K. watchdog said.

The Association of Chartered Certified Accountants and the PrimeGlobal association of accounting firms have signed an agreement to work together on several projects.

The Financial Reporting Council fined Grant Thornton UK LLP and sanctioned two of the auditor’s former executives for failing to maintain ethical standards, in the latest critique by regulators of accounting firms’ shortcomings.

The U.K.’s dominant accounting firms must separate their audit units from other operations by June 2024 as the country’s industry watchdog reacts to shortcomings that led to the collapse of several companies.