Accounting standards

The struggling U.K. fashion retailer has failed to keep pace on price with its high-street rivals and has been closing stores.

Gabriela Figueiredo Dias will become the first chairwoman of the International Ethics Standards Board for Accountants on Jan. 1, 2022.

The Global Reporting Initiative unveiled its revised Universal Standards on Tuesday to reflect due diligence expectations for organizations to manage their sustainability impacts, including on human rights.

Chargebee, a subscription billing and revenue management software company, has bought RevLock, a revenue recognition software developer.

Privately held companies are putting off implementation of the new lease accounting standard, even as the effective date approaches.

The board has issued a supplemental call on its proposals surrounding lead auditors’ responsibilities.

The U.K.’s accounting watchdog has imposed sanctions against Grant Thornton Ltd., and a partner at the business, for its role in the alleged accounting fraud at the Patisserie Valerie bakery chain.

The framework will govern how the board determines if it can’t inspect or investigate a foreign accounting firm.

Boards, shareholders, and auditors alike will want to know CECL’s impact.

The amendments aim to improve the comparability of financial information from companies with investments in equity securities.

The American Institute of CPAs has released a set of questions and answers to help auditors of benefit plan financial statements deal with this complex field and a revised standard.

The Center for Audit Quality released a report on the current requirements for public company auditors regarding climate-related reporting.

Deloitte reported its global revenue grew 5.5% in the fiscal year ending May 31, 2021 to $50.2 billion as the firm increased its workforce 3.2% to 345,000.

A recent statement on corporate reporting says the global profession needs to start with the 2021 reporting cycle.

The FRC filed a disciplinary complaint against KPMG LLP, a former partner and current and former employees over their role in past audits of two companies.

Government budgets are prepared with “wild, wild west” accounting rules.

The Big Four firm was fined a reduced penalty of about 2.2 million pounds ($3 million) due to mitigating circumstances.

ASC 842 will have a major impact on many industries, but three in particular stand out.

Private companies are facing a deadline on implementing the new standard, but recent updates could make an impact.

Carrie Steffen of the Whetstone Group on how accountants need to think differently — but not that differently — when they offer client accounting services.