Regulatory actions and programs

We have come to realize that it's long past time to question using LIFO to allocate costs first to the cost of goods sold and then inventory.

Financial Accounting Standards Board chairman Leslie Seidman and International Accounting Standards Board chairman Hans Hoogervorst appeared side by side at an American Institute of CPAs conference in early December to discuss what went awry in U.S. support for International Financial Reporting Standards.

The Public Company Accounting Oversight Board released a report in early December in which it identified widespread problems at eight major firms with their audits of internal control over financial reporting.

The Private Company Council held its inaugural meeting in early December to discuss how accounting standards should be adjusted for privately held companies.

Ten years on, SOX doesn't appear to be working

The Public Company Accounting Oversight Board has released its latest inspection reports on Deloitte & Touche, Ernst & Young and Grant Thornton, and identified deficiencies with several of the audits it inspected.

Small businesses may be facing a variety of regulatory changes after January 1.

The Financial Accounting Standards Board has released the 2013 U.S. GAAP Financial Reporting Taxonomy.

House Republicans plan a vote late Thursday on a measure that would have been hard to imagine before the November 6 election -- a tax increase for top earners, which they previously labeled as job-killing class warfare.

The Securities and Exchange Commission has approved Auditing Standard No. 16, Communications with Audit Committees, as well as amendments to other standards from the Public Company Accounting Oversight Board.

The Financial Accounting Standards Board has released a proposal for comment to improve reporting on expected credit losses on loans and other financial assets held as investments by banks, financial institutions and other public and private organizations.

The U.S. Small Business Administration has launched an online tool to help small businesses create business plans.

A new report from the Institute of Chartered Accountants in England and Wales urges the International Accounting Standards Board to “end the era of convergence,” and give all listed companies around the world the option of applying International Financial Reporting Standards.

The Public Company Accounting Oversight Board released a report Monday in which it identified widespread problems at eight major accounting firms with their audits of internal control over financial reporting.

The Public Company Accounting Oversight Board has issued a staff audit practice alert to remind auditors of their requirement to exercise professional skepticism throughout their audits.

Financial Accounting Standards Board chairman Leslie Seidman and International Accounting Standards Board chairman Hans Hoogervorst appeared side by side at an AICPA conference Tuesday in a joint appearance to discuss what went awry in U.S. support for International Financial Reporting Standards.

American Institute of CPAs chairman Richard Caturano told an audience of CPAs at the AICPA’s Conference on Current SEC and PCAOB Developments in Washington, D.C., that the Institute is committed to engaging with regulators.

The Securities and Exchange Commission said Monday it has begun administrative proceedings against the China affiliates of each of the Big Four accounting firms and another large U.S. accounting firm, BDO, for refusing to produce audit work papers and other documents related to China-based companies under investigation by the SEC for potential accounting fraud against U.S. investors.

FASB chair Leslie Seidman lays out a schedule for handling the remaining projects on the convergence agenda

Financial Accounting Standards Board chair Leslie Seidman is planning for a multilateral way of working with the International Accounting Standards Board in the future, even as her term approaches an end next year.