International accounting

Japanese electronics giant posts massive writedown and chairman resigns on the heels of accounting scandal, providing hours of chaos that shook investor confidence.

Corrado Sciolla quits as the fallout from the British phone carrier’s Italian unit spreads.

The Ernst & Young global network’s member firm charged with audit failure, noncooperation, and violations of quality control standards.

Combined revenue at member firms increases to $3.2 billion, while the number of partners and staff increased 8.9 percent.

Gavin Patterson sought to distance himself from an accounting scandal that’s rocked the U.K. phone company, pointing the blame squarely on a few rogue employees and removing the head of European operations.

The firm network achieved total global gross revenues of $3.7 billion in the year ending Dec. 31, 2016.

International Ethics Standards Board for Accountants finishes the first phase of its project for restructuring the Code of Ethics for Professional Accountants.

Allegations of embezzlement at the telecommunications company’s Italian unit follow disclosure of a 530 million-pound writedown.

1Malaysia Development Bhd. has tapped Parker Randall almost a year after Deloitte LLP notified the state investment company that it planned to resign.

Mary Jo White urges FASB to continue efforts to harmonize U.S. GAAP with International Financial Reporting Standards.

Public Company Accounting Oversight Board provides answers from staff members to questions about the obligations of registered firms when auditing in Mainland China.

Kentucky-based wire and cable maker is resolving allegations by the SEC and the Justice Department that it violated internal control requirements and the Foreign Corrupt Practices Act.

The U.K. Serious Fraud Office dropped its case against former Tesco Plc group commercial director Kevin Grace without charges, a sign the prosecutor may be getting close to ending its probe into accounting practices that caused the grocer to overstate its profit by as much as 326 million pounds ($407 million).

The Public Company Accounting Oversight Board is disciplining Deloitte Accountants NV, imposing a civil monetary penalty of $300,000 on the Netherlands member of the Deloitte Touche Tohmatsu Limited network.

KPMG International reported global revenue growth of 8 percent for FY 2016.

Leaders of the Financial Accounting Standards Board and the International Accounting Standards Board pledged Tuesday to continue their work together, even after completing their major convergence projects for harmonizing standards.

Countries and jurisdictions throughout the world mandate that entity financial statements be prepared using International Financial Reporting Standards, and that audits be conducted in accordance with International Standards on Auditing. Although the use of IFRS and ISAs isn’t mandated in countries such as the U.S., in our increasingly global economy, many accounting firms must now be able to address the needs of clients with reach outside the primary country in which they operate.

The trustees of the IFRS Foundation, which oversees the International Accounting Standards Board, have reduced the board’s number of members as part of a constitutional review.

The Public Company Accounting Oversight Board has struck an agreement with Italy’s audit oversight regulator, Commissione Nazionale per le Società e la Borsa.

Vinci SA fell victim to a fake release claiming the French builder had fired its finance chief amid accounting irregularities, prompting the stock to plunge before the company denied the report.