A recent report from the federal accounting industry watchdog agency, the Public Company Accounting Oversight Board, found that the incidence of deficient audits performed by the Big Four accounting firms doubled in 2010, reaching a horrifying 33 percent.

Public Company Accounting Oversight Board chairman James Doty told an audience of auditors that the public is expecting more from the audit profession and warned firms against skimping on audit quality.

Recent network memberships, awards, new Web sites and more

Brad Benton has been chosen to lead the health care practice of Dixon Hughes Goodman LLP.

GMI Ratings has compiled a second “Black Swan Risk List” identifying 40 North American companies with the highest risk of major drops in share prices within the next six months.

Online accounting community iShade said Tuesday it is adding two new directors as it prepares for the New Year.

President Obama has named SEC commissioner Elisse B. Walter as the new chair of the Securities and Exchange Commission, succeeding Mary Schapiro.

The Financial Accounting Standards Board has issued a proposed Accounting Standards Update aimed at clarifying the scope of transactions that would be subject to disclosures about offsetting of assets and liabilities on the balance sheet.

Mary L. Schapiro, who has led the Securities and Exchange Commission for four years, said Monday that she plans to step down from her post on Dec. 14, 2012.

Lattimore Black Morgan & Cain PC gave five staff members the role of partner.

Mike Lynch, who founded the British software company accused by Hewlett-Packard Co. of falsifying finances, said that while he may have used some of the contested accounting and sales methods, they were all legal.

Recent network memberships, awards, new Web sites and more

Financial Accounting Standards Board chair Leslie Seidman talks with Accounting Today editor-in-chief Daniel Hood about how FASB's relationship with the International Accounting Standards Board is changing.

The BDO network of accounting firms said Tuesday that annual revenue grew 6.11 percent worldwide for its member firms compared to last year.

Hewlett-Packard Co. took an $8.8 billion charge citing “a willful effort to mislead investors and potential buyers” at Autonomy Corp., the software company it agreed to purchase last year for $10.3 billion.

Darin James is the newest partner in RubinBrown LLP's tax consulting group.

The Canadian member firm of KPMG has acquired the Abbotsford, British Columbia-based firm, Cochrane & Associates Chartered Accountants. The deal closed on November 1, 2012.

Financial Accounting Standards Board chair Leslie Seidman discusses the status of the revenue recognition, leasing, financial instruments and insurance standards that FASB is converging with the International Accounting Standards Board.

The International Federation of Accountants has elected Warren Allen of New Zealand as president for a two-year term and former American Institute of CPAs chair Olivia Kirtley as deputy president, succeeding Allen.

Despite negative market sentiment due to concerns over the looming "fiscal cliff," many investors are unprepared for it, according to a recent survey by Nationwide Financial.