The incoming Congress already appears intent on weakening the financial reform legislation passed by the outgoing Congress.

The Securities and Exchange Commission has voted to propose new rules to strengthen the SEC's oversight of investment advisers and fill important gaps in the regulatory landscape.

The board of trustees of the Financial Accounting Foundation has appointed nine new members to the Financial Accounting Standards Advisory Council, effective Jan. 1, 2011.

The Committee of Sponsoring Organizations of the Treadway Commission has initiated a project to review and update the COSO Internal Control - Integrated Framework.

The Financial Accounting Foundation said it would conduct post-implementation reviews of financial accounting and reporting standards issued by the two boards it oversees, the Financial Accounting Standards Board and the Governmental Accounting Standards Board.

A bipartisan task force has issued a plan to cut the size of the national debt and the federal budget deficit through taxes and other means.

Please do not adjust your set. This is still WebCPA, but now it’s been rechristened Accounting Today for the WebCPA.

Approval of a resolution to support the creation of a GAAP model for private companies and a separate standards board, a revamp of the CPA Vision project and the election of the new 2010-2011 chairman highlighted the Fall Meeting of Council of the American Institute of CPAs, here.

There are certain things that I've resigned myself to believing will never happen in my lifetime. One is my brother-in-law repaying the money he has owed me for 13 years. The other would find me suddenly enjoying lower taxes in New York State. For good measure, you can also add to that list the day my children stop requesting money.

Many claim that "principles-based" accounting standards are superior to "rules-based" standards.

REGISTRATION UNDER WAY

BDO USA LLP kicked off the firm’s Centennial Partners Meeting on Monday.

IMGCAP(1)]Check out the digital edition of the November 15 issue of Accounting Today.

CEOs of accounting institutes from around the world met at the World Congress of Accountants in Malaysia, where they discussed the need for companies to report on non-financial results in areas such as social and environmental activities.

An international monitoring group overseeing accounting standard-setters has issued a report that found the International Federation of Accountants has carried out a series of reforms in recent years, but outlined some steps it should pursue in the future.

Chicago - Nearly half of the nation's chief financialofficers and senior controllers polled by global CPA and business advisory firmGrant Thornton say that the U.S. should not adopt international FinancialReporting Standards until after U.S. GAAP and IFRS have converged to the pointwhere the differences are inconsequential - a time frame of between five toseven years.

ifrs, foundation, iasb

The International Federation of Accountants has released a policy position paper to address how the accounting profession should be acting in the public interest, with a proposed definitional framework outlining those responsibilities.

The Securities and Exchange Commission voted unanimously to propose a whistleblower program to reward individuals who provide the agency with high-quality tips that lead to successful enforcement actions for financial fraud.

Business owners who team up with other small businesses to jointly bid on federal contracts see the greatest results, according to a new study.