September 18, 2017

An official from the American Institute of CPAs asked the Internal Revenue Service to revise its proposed regulations for auditing large partnerships during an IRS hearing Monday.

September 15, 2017

The Financial Accounting Standards Board (FASB) has issued a final standards update intended to improve and simplify hedge accounting rules.

September 14, 2017

The Big Four accounting firms are moving more into the legal services market, competing with law firms on their traditional turf, according to a new report.

September 5, 2017

The Financial Accounting Standards Board proposed a 2018 GAAP Financial Reporting Taxonomy and, for IFRS filers, a Shared Reporting Taxonomy on Tuesday, asking for public comments on the files.

September 1, 2017

The American Institute of CPAs’ Accounting and Review Services Committee has published an exposure draft of a proposed standard on procedures for attestation engagements, while its Financial Reporting Executive Committee has issued working drafts of some of its industry-specific guidance for various industries.

August 30 2017

The Financial Accounting Standards Board released its long-awaited hedge accounting standard this week, but companies may want to be careful about adopting it early, or else they could miss out on some one-time benefits.

August 30, 2017

The Public Company Accounting Oversight Board released a document Wednesday offering information about the main areas its inspectors are looking at during its visits to auditing firms this year.

August 28, 2017

As an increasing number of routine tasks are being automated, CPAs have been seeking opportunities to provide more insight to businesses, clients, investors, and others who use their services.

August 28, 2017

The Financial Accounting Standards Board has released its long-awaited hedging standard, the final component of its financial instruments convergence project with the International Accounting Standards Board.

August 22, 2017

The International Public Sector Accounting Standards Board is mulling new guidance on how the public sector should account for revenue and non-exchange expense transactions, such as the provision of education, health care and defense, in light of the revenue recognition standard.

August 19, 2017

Auditors of brokers and dealers should take several steps to enable the highest quality in the engagements they perform, according to a PCAOB report issued Friday.

USA, August 15, 2017

KPMG has agreed to pay more than $6.2 million to settle charges it failed to properly audit the financial statements of Miller Energy Resources, a Knoxville, Tenn.-based oil and gas company that settled accounting fraud charges last year, the Securities and Exchange Commission said Tuesday.

August 7, 2017

The International Federation of Accountants has released new guidance to help professional accounting organizations handle the ongoing evolution of accounting regulations.

August 3, 2017

The Financial Accounting Standards Board issued a proposed Accounting Standards Update to improve the guidance for accounting for contributions made and received.

August 2, 2017

The Public Company Accounting Oversight Board has imposed a $1 million civil penalty against PricewaterhouseCoopers and censured the firm for its audits of Merrill Lynch.

July 27, 2017

Tax authorities of the five BRICS countries today signed a landmark document to establish a mechanism for taxation cooperation, state media said here.

July 26, 2017

The American Institute of CPAs has released a new standard that provides guidance to auditors about their responsibilities when auditing securities exempt from registration under the Securities Act of 1933 and franchise offerings known as exempt offerings.

July 21, 2017

With the new revenue recognition standard taking effect next year, companies and their investors are bound to see some dramatic changes in the topline numbers being reported.

KIEV, July 20, 2017

Ukraine's central bank said on Thursday it had withdrawn the right to formally audit the country's banks from the Ukrainian unit of the international accounting firm PwC.

July 20, 2017

The Financial Accounting Standards Board (FASB) issued new guidance on July 13 that simplifies the accounting for certain financial instruments with down round features.

July 14, 2017

Extensible Business Reporting Language is starting to become more widely used, thanks to the SEC’s rules requiring the use of XBRL in financial filings in recent years and a new rule requiring XBRL for foreign issuers.

July 14, 2017

Following a Private Company Council recommendation, FASB issued a new standard Thursday that simplifies the accounting for certain financial instruments with down round features.

July 7, 2017

The AICPA is seeking input on a new framework to better guide CPAs and financial professionals on the valuation of financial instruments and their underlying components.

July 6, 2017

Organizations are finally starting to prepare for the new lease accounting standard that will be taking effect in 2019, but as they do they’re running into some unexpected complexities.

July 5, 2017

New guidance issued by the Governmental Accounting Standards Board (GASB) on June 28 establishes a single approach to the accounting for and reporting of leases by state and local governments.