Accounting standards

The American Institute of CPAs’ Auditing Standards Board voted to issue a long-awaited standard on audits of financial statements of employee benefit plans, although it is still awaiting some details before the standard takes effect.

Three firms share how CAS is helping them help clients.

The Securities and Exchange Commission has been taking a close look at how Amazon.com has been adhering to the new revenue recognition standard, particularly with regard to its Amazon Prime revenue, and Amazon has been pushing back in response to the SEC’s comment letters.

Michael Lynch, the former chief executive officer of Autonomy Corp., stepped down Friday as an adviser to U.K. Prime Minister Theresa May after he was charged with fraud by the U.S.

Benefits include special pricing, a dashboard for managing clients, and six levels of permissioning.

New research finds that national and regional firms are catching up to the New York giants in terms of technology adoption and deployment in audits.

The megamerger would create a powerful rival to the Big Four in the British audit market.

The auditing firm new CEO is expected to replace Nhlamulo Dlomu, who will be taking up a global role May 1.

The Governmental Accounting Standards Board proposed implementation guidance Tuesday to help explain some of its pronouncements.

The commodity-trading firm is being investigated by three Singaporean agencies more than three years after a whistle-blower questioned the company’s accounting.

The Financial Reporting Executive Committee eventually plans to publish a broader Business Combinations Accounting and Valuation Guide.

The proposals would make narrow improvements to the rules for credit losses, hedging, and recognition and measurement.

The Nissan chairman was arrested in Japan for alleged financial violations and faces removal from his job.

The International Accounting Standards Board voted to propose a one-year delay, so the new rules would take effect in 2022, instead of 2021.

The SEC is also working to help companies with a crowded implementation schedule.

The update makes narrow improvements to the credit losses standard, including the transition requirements.

Samsung Group’s biotechnology unit is facing a potential criminal investigation and delisting after South Korea’s financial regulator said that the company “intentionally” violated accounting rules surrounding an initial public offering.

Securities and Exchange Commission Chairman Jay Clayton and chief accountant Wesley Bricker weighed in on a proposed change in the reporting cycle for public companies.

A new report from PwC finds businesses still scrambling to meet the deadlines.

One of the Big Four accounting firms has taken a welcome step to improving the credibility of the financial statements published by London-listed companies.