Accounting standards

A former senior executive at Wirecard AG escaped from Austria to Belarus on a private aircraft last year with the help of a secret-service agent and a far-right politician.

The Securities and Exchange Commission tapped deputy chief accountant Paul Munter to become acting chief accountant when chief accountant Sagar Teotia leaves in February.

Thanks to vagaries of the accounting world, Donald Trump’s administration had a chance in the final weeks of the presidential race to cancel more than $200 billion of student loans with no immediate hit to the Department of Education’s massive portfolio. Yet it didn’t do it. Now, perhaps Joe Biden will.

The Association of Chartered Certified Accountants found the majority of accountants internationally believe they are in an inclusive profession, but nearly two-thirds think the profession still has an issue to deal with when it comes to diversity.

A member of Deutsche Bank AG’s supervisory board faced criticism from lawmakers and the bank itself for suggesting that Wirecard AG go after journalists that had written critical stories about the since-collapsed payments company.

The Securities and Exchange Commission has been launching enforcement actions against various types of financial fraud schemes, with improper revenue recognition seen as the most common type of fraud, according to a new analysis.

The U.K. arm of Deloitte got a record fine from Britain’s accounting watchdog in September. With the full judgment against the firm laid bare last week, you can see why.

Coffey will partner with Barry Melancon on setting strategy at the association.

The Financial Accounting Standards Board has released an update on its recent guidance on reference rate reforms to clarify its scope.

The United Kingdom’s Financial Reporting Council issued a report Wednesday on its sanctions against Deloitte for audits of a British software company that was acquired by HP.

Over one-third of U.S. public company audits rely on at least one audit firm abroad, according to new research.

The International Ethics Standards Board for Accountants released a report on its accomplishments over the past four years in setting ethical standards around the world.

The Institute of Management Accountants reported record growth in 2020 despite the impact of the COVID-19 pandemic on the accounting profession.

While organizations would like to see improvement, the consensus is that big updates could make future implementations more confusing.

A recent survey shows that many bookkeepers have begun offering strategic advice this year — some without even realizing it.

The change would make it easier for private companies and nonprofit organizations to evaluate a goodwill triggering event.

President Donald Trump on Friday signed legislation that could kick Chinese companies off of U.S. exchanges unless American regulators can review their financial audits, a move likely to further escalate tensions between the two countries.

The International Auditing and Assurance Standards Board has issued a set of three revised standards aimed at improving quality management for auditors across the globe.

Business owners don't have the time or expertise to deter bookkeeping fraud.

The board’s proposed ASU offers specific guidance on certain recognition and timing issues.