International accounting

Sacha Romanovitch will not stand for re-election for a second term and will step down after a successor is appointed before the end of this year.

Luke Johnson should have read his own aide-memoire. A month after the Patisserie Holdings Plc chairman published an advice column on spotting fraud, his finance chief has been arrested in an accounting scandal that threatened to shut the cake baker’s 200-plus stores.

The Prince of Wales’ Accounting for Sustainability project and the International Integrated Reporting Council intend to promote sustainability reporting and integrated reporting at the World Congress of Accountants that’s set to take place in Sydney, Australia in early November.

Patisserie Holdings Plc finance chief Chris Marsh was arrested as U.K. fraud prosecutors opened a probe into an accounting scandal that threatens to shutter the cake baker’s 200-plus stores.

Testifying at the accounting fraud trial of two former executives, the U.K. retailer's chief talked of his genuine shock when he was first shown a report that described howthe company had overstated income by 246 million pounds ($326 million).

Text message recipients were told there was impending, unspecified bad news coming before the accounting scandal unfolded.

U.K. cake baker Patisserie Holdings Plc suspended its chief financial officer after uncovering “significant, and potentially fraudulent, accounting irregularities” and a demand for more than a million pounds in back taxes.

A competition watchdog started investigating the industry a day after another regulator said it was considering banning firms from doing consulting work for the companies they audit.

The International Auditing and Assurance Standards Board has released a revised standard for auditing accounting estimates and several related disclosures.

A case study explores IESBA’s new guidelines for avoiding conflicts of interest in auditing.