International accounting

The Financial Accounting Standards Board is planning to welcome new board members as the terms of several of its members end next year.

Deloitte LLP and firm partner John Clennett got a record fine in the United Kingdom for misconduct after the U.K.’s accounting regulator said the audit and financial statements of Aero Inventory Plc fell short of acceptable standards.

The International Accounting Standards Board has released its five-year work plan for International Financial Reporting Standards, with a focus on completing its insurance contracts standard and revising its conceptual framework.

More than 125 institutional investors sued Tesco Plc, seeking in excess of 100 million pounds ($122 million) over the U.K. grocer’s 2014 profit overstatement.

Three former Tesco Plc executives charged with accounting fraud will go on trial in September 2017.

The countdown is on for 2018, as new international accounting rules, IFRS 15 for international countries and ASC 606 for the U.S., will change the way companies need to manage revenue recognition.

The Public Company Accounting Oversight Board announced a cooperative agreement with the audit regulator of Finland, the Finnish Patent and Registration Office.

Grant Thornton International Ltd. has prevailed in a class-action lawsuit brought by three Louisiana pension funds against the firm.

Ernst & Young reported a 9 percent increase in global revenue to $29.6 billion for the fiscal year ending June 30, 2016, the sixth straight year of growth.

A group of advocacy organizations is urging the Financial Accounting Standards Board to require multinational companies to disclose more information about their taxes.

Three former Tesco Plc executives will plead not guilty to allegations of accounting fraud, their lawyers said as the men appeared in a London court for the first time since being charged.

Three former Tesco Plc executives were charged with fraud and false accounting by the U.K. Serious Fraud Office, after a multi-million dollar shortfall discovered two years ago led to a criminal investigation of the grocer’s finances.

The International Federation of Accountants wants accountant organizations to partner together more widely and share their success stories and best practices.

Deloitte reported a revenue increase of 9.5 percent across its international network, for a total of US$36.8 billion in the fiscal year ending May 31, 2016.

A consultant offers ugly truths and realistic remedies

The Public Company Accounting Oversight Board has inked a cooperative agreement with the German Auditor Oversight Body, a new regulator for audit firms in Germany.

Institute of Management Accountants president and CEO Jeff Thomson talks in this video about how he views the plans by the American Institute of CPAs and the Chartered Institute of Management Accountants to form a new international association.

The Institute of Internal Auditors and the International Federation of Accountants have renewed an agreement to collaborate on advancing auditing and accounting practices around the world.

The International Public Sector Accounting Standards Board has published new guidance on how the public sector can account for employee benefits around the world and is also considering changes in how to account for financial instruments.

New research from the International Federation of Accountants shows how advice and expertise from accountants helps improve business performance at companies around the world.