International accounting

The International Ethics Standards Board for Accountants has released a new code of ethics for accountants that’s been rewritten to make it simpler to navigate, use and enforce.

The United Kingdom’s Financial Reporting Council, which oversees auditing firms, said Monday it is implementing the recommendations of an independent review of sanctions for auditors, accountants and actuaries, which include increasing the fines to £10 million ($14.1 million) or more for “seriously poor audit work” by a Big Four firm.

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.

Steinhoff International Holdings NV lost a case against a former business partner related to how it reported financials for 2016, the first major legal setback for the global retailer as it battles an accounting scandal.

India’s tycoon Singh brothers took at least 5 billion rupees ($78 million) out of the publicly traded hospital company they control without board approval about a year ago, people with knowledge of the matter said.

What is IFRS 16, how will it affect your business and what do you need to do to ensure your leasing arrangements remain compliant?

The fraud trial of three former Tesco Plc executives was halted when one of them, ex-U.K. Chief Financial Officer Carl Rogberg, had a heart attack days before the jury was due to begin deliberations.

The International Public Sector Accounting Standards Board has proposed a new strategy and work plan for 2019 through 2023.

International Federation of Accountants CEO Fayezul Choudhury, and IFAC CFO and executive director for external relations Russell Guthrie, talk about how international financial regulators are mulling changes in how global auditing standards are set.

Nexia International, a network of accounting and consulting firms, reported total fee income of $3.62 billion for 2017, a 13 percent increase over the results across its network for 2016.

The U.K. Financial Reporting Council opened a probe into KPMG LLP’s audits of Carillion Plc, after the builder collapsed under a mountain of debt earlier this month.