Accounting standards

The Governmental Accounting Standards Board published guidance Monday to improve accounting and financial reporting for public-public partnership arrangements — also known as P3s — along with public-private and availability payment arrangements (APAs).

The International Auditing and Assurance Standards Board released its 2020-2023 strategy and 2020-2021 work plan, while acknowledging that the COVID-19 pandemic could throw those plans out of whack.

Ernst & Young must pay $10.8 million to an auditor who blew the whistle on wrongdoing at a Dubai gold refiner in another black eye for the U.K. accounting industry.

The Governmental Accounting Standards Board is proposing to delay the effective dates of provisions for all Statements and Implementation Guides by one year.

The company joins the Botkeeper ecosystem to address firm needs around keeping doors open during the CVID-19 pandemic, while balancing the cost to do so.

The Treasury Department has created a web-based portal through which state, local and tribal governments will be able to access payments to help offset the costs of the novel coronavirus pandemic.

The Financial Accounting Standards Board staff released a question-and-answer document to respond to questions about the lease accounting guidance for lease concessions in the wake of the novel coronavirus pandemic.

The International Accounting Standards Board proposed amendments to assist companies in providing useful information to investors about the effects of interest rate benchmark reform on financial statements.

The Financial Accounting Standards Board plans to propose that private companies and nonprofits get an extra year to implement the lease accounting standard while also giving private franchisor companies an extra year for revenue recognition.

China’s second accounting scandal in less than a week is underscoring concern over lax corporate governance at some of the country’s fastest-growing companies.

Even before the start of the coronavirus pandemic, the federal government was facing dire financial conditions, with its overall financial condition worsening by $8.16 trillion in 2019, according to a new analysis.

The Governmental Accounting Standards Board is working on several fronts to offer relief to state and local governments and other stakeholders in the midst of the pandemic, including delaying the effective date of some standards.

The Governmental Accounting Standards Board published guidance to help state and local governments transition move to newer reference rates that are less prone to market manipulation.

The Financial Accounting Standards Board will be meeting next week to discuss the impact of the novel coronavirus pandemic on its stakeholders, including pushing back the effective dates of some of its upcoming accounting standards.

KPMG and one of its senior partners have been reprimanded and fined 455,000 pounds ($560,000) for failings in its audit of a U.K. company, the latest sanction against the Big Four auditor in recent years.

A better audit isn’t measured by the number of forms completed.

The two accounting associations have signed a letter of intent to merge, effective Sept. 1, 2020.

Three firms share very different approaches to handling clients’ books.

The $2.2 trillion package passed by the Senate includes a provision that would allow banks the temporary option to postpone compliance with the credit losses standard.

The Governmental Accounting Standards Board is considering delaying the effective dates of its standards and implementation guides because of the novel coronavirus pandemic.