Accounting standards

One of China’s largest listed drug makers said related parties used the firm’s funds to trade its shares, a day after the securities regulator alleged financial data had been fabricated.

The clarification might lead to problems for some museums.

The Financial Accounting Standards Board is giving banks some leeway in applying the new credit losses standard.

The Financial Accounting Standards Board has released a proposed accounting standards update to reduce the cost and complexity of accounting for income taxes.

The Institute wants to postpone the effective date of its new leases standard for one year, citing an overload for financial statement preparers.

The American Institute of CPAs has submitted a set of recommendations to the Internal Revenue Service about accounting method changes.

With more than three-quarters of public companies already past the effective date, the spotlight is now on private companies.

The global retailer at the center of South Africa’s biggest corporate scandal cut the value of its assets because of accounting irregularities.

The United Kingdom’s Financial Reporting Council has fined KPMG’s U.K. firm £5 million (discounted through a settlement to £4 million, or about $5.2 million) for its fiscal year 2009 audits of the Co-operative Bank.

The American Institute of CPAs’ Auditing Standards Board has posted a group of standards for audit reports and auditing financial statements.

QuickBooks Online users can now access RUN Powered by ADP directly from within QBO.

The Center for Audit Quality has introduced a new guide to assist audit committees at overseeing their companies efforts to comply with the new credit losses accounting standard.

The Governmental Accounting Standards Board has released guidance in the form of questions and answers to help state and local governments apply its standards.

The Public Company Accounting Oversight Board has posted a preview of its inspection staff’s observations from 2018, describing some of the main deficiencies it uncovered for auditing firms, along with ways to improve audit quality.

The American Institute of CPAs released non-authoritative guidance to help nonprofit organizations deal with a recent accounting standard on collections.

The Public Company Accounting Oversight Board may begin asking auditors to look at cybersecurity when assessing risks at the companies they audit.

The United Kingdom’s Financial Reporting Council also 'severely reprimanded' the firm, as well as two partners.

One of China’s largest listed drugmakers said it overstated cash holdings by $4.4 billion, sending its shares and bonds tumbling.

The Institute of Internal Auditors reported a milestone Monday, with membership numbers now topping 200,000.