Accounting standards

The board imposed monetary penalties and sanctions Tuesday against two firms that had been working with unregistered Chinese auditors.

Client accounting and advisory services are the clear pathway to exponential growth for today’s firms.

Richard Jones has been poring over the feedback the board received from a recent consultation on its future standard-setting agenda to decide on new projects to take on.

The board released its 2021 annual report on Thursday, highlighting its main accomplishments as it transitioned to a mostly new board.

Actively looking to leverage lessons learned from public company implementations, private companies are now leading the charge in developing lease accounting efficiencies.

The CSRC called for faster implementation of a new rule surrounding overseas listings that may remove a hurdle for U.S. regulators.

The FRC is toughening up the regulation of Britain’s biggest auditors, as the sector faces heavy criticism over a string of high-profile finance scandals.

The International Auditing and Assurance Standards Board released a revised standard Thursday to focus on the special considerations that apply to audits of group financial statements.

The IFRS Foundation is teaming up with CPA Canada to set up a Montreal center for the new board, in addition to a location in Frankfurt, Germany.

Accountants globally are expressing more economic optimism in the first quarter of the year, according to a new survey, but they see risks ahead.

The board released an exposure draft of a proposed standard for multi-employer retirement plan obligations.

The council recommended improvements for the disclosure and accounting of software costs, finding current practice to be inadequate for needs.

The revised draft rules deleted the requirement that on-site inspections should be mainly conducted by Chinese regulatory agencies or rely on their inspection results.

The total value of goodwill impairments recorded by U.S. public companies more than doubled in 2020 during the first year of the COVID-19 pandemic, according to a new study, and the same may happen again this year as geopolitical tensions rise.

The Governmental Accounting Standards Board set the effective date for the GASB 87 leases standard at June 15, 2021, after pushing it back by 18 months during the pandemic, but many state and local governments are apparently behind on implementing it.

Board staff called attention to some important considerations for auditors as they plan and perform audits that may be affected by the ongoing war in Ukraine.

Chinese authorities are preparing to give U.S. regulators full access to auditing reports of the majority of the 200-plus companies listed in New York as soon as the middle of this year.

For now, it’s technology, but soon it will be more about demand from markets — and society as a whole.

The Financial Accounting Standards Board released an accounting standards update aimed at improving the usefulness of information offered to investors about certain loan refinancings, troubled debt restructurings, vintage disclosures and gross write-offs, amending its credit losses standard.