Regulatory actions and programs

The trustees of the IFRS Foundation, which oversees of the International Accounting Standards Board, have appointed Sue Lloyd as vice chair of the board.

Big Four firm Ernst & Young has agreed to pay more than $11.8 million to the Securities and Exchange Commission for failing to detect fraud in its audits of an oil services company.

The Public Company Accounting Oversight Board announced that it is actively seeking candidates for economic research fellowships during the 2017-18 academic year.

The Securities and Exchange Commission reported that it has filed 868 enforcement actions related to financial reporting misconduct in fiscal year 2016 – a new single-year high.

Chesapeake Energy received a subpoena from the U.S. Department of Justice for information related to its asset purchase accounting practices.

Companies are beginning to revamp their financial reports to incorporate sustainability disclosures in response to demand from investors.

The SEC gave out its second-largest whistleblower award ever to a former Monsanto financial executive .

The Sustainability Accounting Standards Board is seeing more desire from investors for improved sustainability reporting, as evidenced by a wave of comment letters to the Securities and Exchange Commission.

Deloitte has some tips to help companies deal with the Securities and Exchange Commission’s guidance on the use of non-GAAP measures.

Brian Croteau, deputy chief accountant at the Securities and Exchange Commission’s Office of the Chief Accountant, plans to step down.

The Securities and Exchange Commission has suspended EFP Rotenberg LLP and an accountant at the firm for failing to detect fraud in the audit of a public company client, ContinuityX Solutions.

James Schnurr, the chief accountant in the Securities and Exchange Commission’s Office of the Chief Accountant, has been seriously injured in a bicycling accident, and the SEC named deputy chief accountant Wesley R. Bricker as interim chief accountant while Schnurr recuperates.

The Securities and Exchange Commission voted Wednesday to get rid of redundant and outmoded disclosures in response to recent changes in U.S. and international accounting standards and technology.

The Securities and Exchange Commission voted Monday to propose amendments that would expand the threshold for businesses to qualify as a “smaller reporting company.”

South Korea is considering a bill that would allow regulators to oust the CEO of an accounting firm that is found to be negligent in controlling audit quality.

The Securities and Exchange Commission said Monday it will allow companies to voluntarily file structured financial statement data in a format known as Inline XBRL.

The Securities and Exchange Commission has barred a former corporate vice president and a former controller for false accounting at an electronics company.

The Consumer Financial Protection Bureau proposed long-awaited rulemaking last week to protect consumers from falling into the trap of ever-spiraling debt for taking out a short-term “payday loan.”

The Securities and Exchange Commission has approved rules from the Public Company Accounting Oversight Board to improve audit transparency by disclosing the names of audit engagement partners, along with information about other firms that participate in the audits.

Now that public companies are required to use Extensible Business Reporting Language, or XBRL, in their financial filings with the Securities and Exchange Commission, the SEC is trying to make sure the data is appropriate and not hiding accounting gimmicks.