The board of trustees of the Financial Accounting Foundation appointed 10 new members Monday to the Financial Accounting Standards Advisory Council and six new members to the Governmental Accounting Standards Advisory Council.

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The Public Company Accounting Oversight Board made public on Friday some previously confidential parts of its 2009 inspection report on Deloitte & Touche LLP after the firm failed to completely address several quality control issues that the PCAOB had identified within a year.

A post-implementation review of a 1992 accounting standard addressing the accounting for income taxes found that the standard generally achieved its intended purpose, but may not have reduced the complexity of accounting for income taxes.

The Financial Accounting Foundation’s Board of Trustees, who oversee the Governmental Accounting Standards Board and the Financial Accounting Standards Board, has adopted a new policy clarifying the characteristics of the information that GASB can incorporate into the financial accounting and reporting concepts, standards, and guidance that it issues for state and local governments.

The Public Company Accounting Oversight Board posted settled disciplinary orders Friday involving three auditing firms and three people associated with them, charging them with violating the federal securities laws in addition to PCAOB auditing standards and rules in the audits of 10 public companies.

Online payroll provider SurePayroll Inc. has found the government shutdown had a significant impact on businesses with 10 or less employees, causing them to rethink expectations for the future and question their leaders.

The Institute of Management Accountants has become a member of the International Federation of Accountants, reflecting the growing importance of management accountants in the global economy.

The Securities and Exchange Commission and the Public Company Accounting Oversight Board are expanding their efforts to deter accounting fraud, reaching out to academics, practitioners and others to find ways to better detect accounting fraud.

The International Accounting Standards Board has introduced a new hedge accounting model as a major step forward in the financial instruments project on which it has been collaborating with the Financial Accounting Standards Board.

Paychex Inc. has officially introduced Paychex Accounting Online – a secure cloud accounting offering aimed at small businesses and powered by strategic partner Kashoo.

Xero has added new features to its cloud accounting software designed to make managing finances and related financial documents in the cloud easier for accounting professionals and small businesses.

The Financial Accounting Foundation and the Financial Accounting Standards Board have launched a new section on the FAF Web site that features audio, transcripts and photos from the September’s FASB@40 Conference hosted in New York to commemorate the FASB’s 40th anniversary.

The chairmen of the Financial Accounting Standards Board and the International Accounting Standard Board appeared alongside each other Monday to discuss the status of their efforts to converge accounting standards over the past decade or more and their plans for the future as the convergence effort appears to be running out of steam.

The Public Company Accounting Oversight Board has added a page to its Web site to provide information to audit firms where quality control problems have been found.

Apple has approved Workbox, a new app designed to allow users to run all bookkeeping functions directly from their iPads.

Cloud accounting and financial software provider FinancialForce.com has launched FinancialForce Revenue Recognition, the latest addition to its suite of cloud applications built on the Salesforce platform.

The Private Company Council has voted to finalize an alternative standard for private companies to use when applying variable interest entity guidance to common control leasing arrangements.

Michel Prada, chairman of the IFRS Foundation Board of Trustees, which oversees the International Accounting Standards Board, took countries like the U.S. and Japan to task for taking what he called an “à la carte” approach to accounting standards by not fully embracing International Financial Reporting Standards.

Accounting firms could find value in managing their clients online funding campaigns, according to Xcentric's vice president of marketing Roy Keely.