Accounting standards

When it comes to client advisory services, one size doesn't fit all.

PricewaterhouseCoopers was fined almost £5 million pounds ($6.22 million) for a series of poor audits of two U.K. construction companies, as the regulator continued to crack down on audit failings by the Big Four.

Revenues from client advisory services between 2018 and 2020 rose from 34% to 47%; by contrast, all other practice areas grew from 28% to 34% in the same period.

The average number of leases held by companies has returned to or exceeded pre-pandemic levels, according to a new report, even as they adjust to new rules that put leases on the balance sheet.

To have a CAS firm, you need to change the narrative about accounting — you’re no longer selling your time; you are selling your knowledge and expertise.

The board plans to hold a meeting next Wednesday with its reconstituted Investor Advisory Group, the first meeting in nearly four years with one of its biggest stakeholders.

The board's future projects include digital assets, intangibles, government grants, and accounting for financial instruments with ESG-linked features.

The board voted to add a project to its technical agenda on financial instruments with environmental, social and governance-linked features and regulatory credits.

Ernst & Young is reportedly considering spinning off the auditing side of the firm to deal with growing pressure on the Big Four to avoid conflicts of interest with their consulting practices.

A possible split confronts the problem faced by all breakups: How do you create attractive businesses out of both when one is likely to be seen as inferior?

Sweeping audit reforms are aimed at reining in the dominance of the big firms and cleaning up the industry following a string of high-profile scandals.

Several hurdles remain in an impasse over audits on U.S.-listed Chinese companies to avoid forcing them off American exchanges as early as next year, an SEC official said.

Hong Kong’s accountant body said it failed to reach an accord to prolong an 11-year mutual recognition agreement with the U.S. amid a dispute over local qualifications.

Yount, Hyde and Barbour is acquiring Glass Jacobson; and RSM Brazil is merging in Pemom.

The foundation laid out how it will be using the standards and the integrated reporting framework it is inheriting from the Value Reporting Foundation.

A KPMG report showed Cevdet Caner — who was not supposed to have any direct role in the company — setting meetings, weighing in on pay and berating executives.

The board of trustees released a draft strategic plan Tuesday and is asking for input.

When the IFRS Foundation trustees put out their Consultation Paper on Sustainability Reporting, the accounting scientific community responded in unusually high numbers.

The FRC fined the Big Four firm and partner Anthony Sykes over its 2010 audit of the carmaker, the latest in a long list of audit scandals surrounding the firm.

Roman Abramovich’s U.K. business empire stretched far beyond Chelsea Football Club. Among those who helped build it was an upstart firm with an illustrious name.