International accounting

The International Accounting Standards Board is changing the underpinnings of International Financial Reporting Standards.

The Association of Chartered Certified Accountants is partnering with an association of independent accounting firms to strengthen the global talent pool.

The International Financial Reporting Standards Foundation has released a new set of data tags, while the Securities and Exchange Commission also renewed its files.

Recent changes to international standards for audit reports have improved the quality of information that’s available to investors, and had a positive impact on wider elements of financial reporting, including governance and corporate reporting, according to a new report from the Association of Chartered Certified Accountants.

Foreign affiliates of KPMG, Deloitte & Touche and BDO have agreed to settle charges with the Securities and Exchange Commission for getting involved in audit work that circumvented the Public Company Accounting Oversight Board’s full oversight.

The International Forum of Independent Audit Regulators reported on issues with how firms are scrutinizing accounting estimates, testing internal controls, checking revenue recognition and more.

Deloitte, PwC and EY all caved. Under pressure over how they compiled their gender pay gaps in the U.K., the three companies agreed to revise their figures to include high-earning partners.

Former CPA Canada chief Kevin Dancey will succeed Fayezul Choudhury at the end of the year.

Steinhoff International Holdings NV said a review by auditors at PwC into its accounts is focused on certain off-balance-sheet structures and deals with related parties and is likely to find that some assets, revenue and profit figures have been overstated.

The American Institute of CPAs and the National Association of State Boards of Accountancy have inked a mutual recognition agreement with the Institute of Chartered Accountants of Scotland to provide a streamlined process for accountants to practice in each other’s country.