February 14, 2018
Insider trading remains a rampant problem on Wall Street, with new research finding that the nation's largest financial institutions pocket hefty sums with the help of nonpublic information.
February 2, 2018
The Governmental Accounting Standards Board is asking for help as it develops a comprehensive model for revenue and expense recognition for state and local governments.
January 23, 2018
The U.S. regulator overseeing auditors was rocked by criminal charges as federal prosecutors accused three former employees of leaking inside information to KPMG LLP so it could improve its audit results.
January 19, 2018
Hong Kong, which has faced a slew of criticism on company financial reporting, is set to create a new framework to oversee auditors of listed entities in the city.
January 11, 2018
FASB addressed numerous financial reporting implications of P.L. 115-97, known as the Tax Cuts and Jobs Act, on Wednesday in an effort to provide financial statement preparers with timely answers to questions they have posed.
Dec 19th 2017
The Auditing Standards Board (ASB) of the American Institute of CPAs (AICPA) has issued three exposure drafts that call for major changes to auditors’ reports.
December 18, 2017
The European Securities and Markets Authority (ESMA) publishes today the final draft Regulatory Technical Standards (RTS) setting out the new European Single Electronic Format (ESEF).
December 14, 2017
The International Federation of Accountants is expressing alarm about recent proposals from a group of global financial regulators to separate its standard-setting boards for auditing and ethics.
Dec 13th 2017
The Public Company Accounting Oversight Board (PCAOB) recently issued guidance for the new auditor’s reporting model in Auditing Standard No. 3101, The Auditor’s Report on an Audit of Financial Statements When the Auditor Expresses an Unqualified Opinion.
December 12, 2017
The Financial Accounting Standards Board (FASB) has opted to ease the burden of implementing its leases standard for preparers, and these recent changes target land easements and separation of non-lease and lease components for lessors.
December 8, 2017
The Governmental Accounting Standards Board is circulating a pair of exposure drafts proposing accounting and financial reporting guidance pertaining to the capitalization of interest cost along with a proposed Implementation Guide discussing a variety of topics.
Lonodon, November 30, 2017
Britain’s accounting watchdog said on Thursday it should have been faster to investigate why KPMG gave HBOS’s accounts the green light just seven months before the bank had to be rescued by Lloyds (LLOY.L) during the global financial crisis.
November 30, 2017
The American Institute of CPAs’ Auditing Standards Board has released three exposure drafts proposing ways to improve the usefulness of the auditor’s report, in response to recent standards from the Public Company Accounting Oversight Board and the International Auditing and Assurance Standards Board.
November 29, 2017
The Financial Accounting Standards Board decided during a meeting Wednesday to ease some of the implementation burdens and possible costs of the new lease accounting standard by making several adjustments and offering some practical expedients.
Washington, November 28, 2017
Conservative and liberal U.S. Supreme Court justices on Tuesday appeared reluctant to broaden protections for corporate insiders who blow the whistle on securities law violations or fraud by their companies.
November 21, 2017
A new statement of position issued by the AICPA Auditing Standards Board (ASB) provides practitioners with guidance for performing agreed-upon procedures attestation engagements related to third-party due-diligence services for asset-backed securities.
November 13, 2017
Increases in audit fees paid by public companies aren’t necessarily producing better audit quality, according to a new report.
November 10, 2017
PCAOB inspectors identified three areas where audit deficiencies were most frequently identified in 2016, according to a board staff inspection brief published Friday.
London, November 9, 2017
Global regulators want to shake up how corporate audit rules are written to curb the influence of accountants and avoid any conflict of interest.