A federal judge has approved the settlement of the Securities and Exchange Commission’s complaint against headphone maker Koss Corporation and its CEO and former CFO Michael Koss.

The March edition of Accounting Today’s Accountants Confidence Index reveals that the profession has lowered its expectations for growth in the next three to six months.

Check out the digital edition of the March 2012 issue of Accounting Today.

The Public Company Accounting Oversight Board plans to hold a series of meetings to discuss a proposal to require mandatory audit firm rotation.

Firm News -- March 9

Grant Thornton has released a new paper calling for an overhaul in the current thinking of the Financial Accounting Standards Board and the International Accounting Standards Board on lease accounting standards, instead advocating the use of two different lease accounting models.

International Accounting Standards Board chairman Hans Hoogervorst told attendees at a financial conference in Mexico City that the board plans to give accountants a period of relative stability to give them time to adjust to all the new standards.

The New York State Society of CPAs expressed its support for the Public Company Accounting Oversight Board’s proposals for improving communications between auditors and audit committees, but objected to several of the new requirements.

The financial services industry has always had pretty specific rules about testimonials, recommendations and advisory.

The Financial Accounting Standards Board has added a new project to its agenda to re-examine the definition of a “nonpublic entity,” as part of its efforts to reach out more to private company constituents.

The Institute of Management Accountants and cloud-based financial and ERP product provider NetSuite Inc. have released a 23-page report, offering insights into the greatest challenges faced by today’s finance organizations, along with the steps that companies are taking to overcome them.

Guarini Takes Helm at GH•D

The Public Company Accounting Oversight Board has issued its latest inspection report on BDO USA and found several audit failures and deficiencies.

Michael Andrew, the chairman of KPMG International, sees a variety of audit risks arising in the global financial markets.

The Public Company Accounting Oversight Board plans to host forums for auditors of small businesses and smaller broker-dealers.

A new study suggests that using online video to announce a financial restatement can lead to an erosion in investor trust if not handled properly.

IMGCAP(1)]Regulators are favoring more disclosure in annual reports prepared for public companies for fiscal year 2011, but they are also bringing in a dose of reasonableness in regards to burdensome valuation requirements.

Accounting and consulting firm Moss Adams has introduced a mobile app, making its digital magazine Moss Adams Insights accessible on any iPhone, iPod Touch, iPad and Android device.

Proposed changes in leasing accounting standards are creating concerns among many businesses that use long-term leases, with 92 percent of executives in a new survey indicating they are unprepared to address the changes.

The Financial Accounting Standards Board and the International Accounting Standards Board are not seeing eye to eye on an important component of their leasing standards project involving income statement changes for lessees.