As the SEC resurrects its focus on the roadmap to adopt International Financial Reporting Standards, the 30-plus year debate over a GAAP for private companies has progressed somewhat but remains on the back burner amidst legislative and standard-setters’ priorities for global convergence

The House Financial Services Committee has approved legislation that would require regulation of the over-the-counter derivatives market.

A trade group representing insurance and reinsurance companies has taken exception to a proposed standard on fair value accounting and said it will make financial statements harder to understand.

Current Grant Thornton CEO Ed Nusbaum and incoming CEO Stephen Chipman talked about the Supreme Court’s upcoming hearing of a challenge to the constitutionality of the Public Company Accounting Oversight Board.

Accounting firm Crowe Horwath has created a Web-based system to help state and local agencies that receive federal funding from the economic stimulus package comply with the complex reporting requirements.

The Securities and Exchange Commission has released a draft of a five-year strategic plan that calls for “a single set of high-quality global accounting standards.”

Seventy percent of CFOs and other finance professionals support approval of the Securities and Exchange Commission’s roadmap for adopting International Financial Reporting Standards, according to a new survey by Deloitte.

The Association of Chartered Certified Accountants recommends in a new report that environmental regulators should work with international accounting standard-setters to develop a universally applicable climate change reporting standard for organizations of all sizes.

The Financial Accounting Standards Board has expanded the use of interactive data-tagging technology in its official FASB Accounting Standards Codification.

The Securities and Exchange Commission has again delayed the deadline for small public companies to begin providing an audited assessment of internal controls over financial reporting, but said this will be the last time.

Stephen Chipman, incoming chief executive of Grant Thornton LLP and Ed Nusbaum, incoming chief executive of Grant Thornton International, talk to Accounting Today Editor-in-Chief Bill Carlino about why a recent college grad should choose their firm. We also learn that, yes, Nusbaum has his own iPod.

IMGCAP(1)]Today, more than three years since it was issued, FIN48 remains the bane of many tax departments’ existence.

The Public Company Accounting Oversight Board has delayed the effective date of its new rules requiring accounting firms to report on events such as litigation so it can resolve technical issues with the Web-based system it plans to use for receiving the reports.

The Financial Accounting Standards Board and its global counterpart, the International Accounting Standards Board, hope to stay in lockstep on standards, but oftentimes it’s not so easy.

PricewaterhouseCoopers has released the 2009 edition of its free downloadable guide comparing International Financial Reporting Standards with U.S. GAAP.

The author of a new book on the Financial Accounting Standards Board’s recently released GAAP Codification said CPA firms could be exposed to litigation risks unless they deploy the new codification rapidly.

The Group of 20 Leaders included a call for accounting convergence in their statement at the conclusion of their summit in Pittsburgh last weekend.

I know, I know you’re used to being in demand.

Many accounting firms are doing a good job of following new standards for conducting risk-based audits of internal controls, but others are not applying the standards properly, according to a new report by the Public Company Accounting Oversight Board.

Rep. Nydia Velázquez, D-N.Y., chair of the House Committee on Small Business, has proposed legislation to extend several expiring Small Business Administration lending programs.