Accounting standards

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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.

Deloitte LLP said it resigned as Ferrexpo Plc’s auditor over delays by the Ukrainian iron-ore producer in investigating its own charitable donations.

The longtime head of the Financial Accounting Foundation will step down after 11 years of running the organization that oversees FASB, GASB and the PCC.

The Financial Accounting Standards Board released an accounting standards update Thursday to clarify three of its recent standards for credit losses, hedging, and recognition and measurement of financial instruments.

The latest effort to overhaul the post-financial crisis rule would replace the proposed "accounting prong" for determining which kinds of trades are prohibited.

The former Bank of America vice chairman has agreed to stay on through the rest of 2019 as the board of trustees searches for new leaders at FASB and GASB.

AICPA chief auditor Bob Dohrer dives deep into the new requirement for reporting critical audit matters in the auditor's report, including recent guidance.

The web-based tool employs machine learning technology to estimate an incremental borrowing rate curve for the leasing standard.

The Financial Accounting Foundation’s board of trustees has appointed Susan M. Cosper, technical director of the Financial Accounting Standards Board, as a member of the FASB board.

The United Kingdom’s Competition and Markets Authority has issued a long-awaited report calling for separation of audit from consulting services, mandatory “joint audits” and regulatory powers to increase the accountability of audit committees.

South Korean auditors are refusing to sign off on more and more corporate financial statements due to tighter regulations, giving investors earlier warning signs of trouble ahead.