Accounting standards

As organizations gravitate away from highly customized legacy accounting systems and many systems arrive at their end-of-life, there are some best practices firms should follow to embrace the agility of an open platform.

Recent changes to international standards for audit reports have improved the quality of information that’s available to investors, and had a positive impact on wider elements of financial reporting, including governance and corporate reporting, according to a new report from the Association of Chartered Certified Accountants.

Foreign affiliates of KPMG, Deloitte & Touche and BDO have agreed to settle charges with the Securities and Exchange Commission for getting involved in audit work that circumvented the Public Company Accounting Oversight Board’s full oversight.

The International Forum of Independent Audit Regulators reported on issues with how firms are scrutinizing accounting estimates, testing internal controls, checking revenue recognition and more.

Companies need to realize that the challenge ahead is bigger than accounting.

There may be some advantages, particularly for multinationals, with getting an early jump on FASB's changes in the hedging rules.

Deloitte, PwC and EY all caved. Under pressure over how they compiled their gender pay gaps in the U.K., the three companies agreed to revise their figures to include high-earning partners.

The Top 100 Firm’s new practice turns technology into booming business.

Former CPA Canada chief Kevin Dancey will succeed Fayezul Choudhury at the end of the year.

The Financial Accounting Standards Board wants to improve how to deal with implementation charges for hosting service contracts.

Steinhoff International Holdings NV said a review by auditors at PwC into its accounts is focused on certain off-balance-sheet structures and deals with related parties and is likely to find that some assets, revenue and profit figures have been overstated.

The American Institute of CPAs and the National Association of State Boards of Accountancy have inked a mutual recognition agreement with the Institute of Chartered Accountants of Scotland to provide a streamlined process for accountants to practice in each other’s country.

Efforts in the U.S. and Europe to encourage public companies to change audit firms have largely failed, according to new academic research.

An omnibus revision to the Statement on Standards for Accounting and Review Services will come out after tax season.

General Electric Co.’s boss wants investors to know that all the negative headlines dogging the manufacturer don’t tell the whole story.

New FASB guidelines have made selecting and using accounting software more important than ever. Here's how to choose.

While 75 percent of companies find the FASB standard more complex than expected, only one third have sought out software to address the challenge.

The Financial Accounting Standards Board issued a proposal Tuesday to expand the list of benchmark interest rates allowed for hedge accounting.

Steinhoff International Holdings NV lost a case against a former business partner related to how it reported financials for 2016, the first major legal setback for the global retailer as it battles an accounting scandal.

The Financial Accounting Standards Board released an accounting standards update Wednesday to help companies deal with the stranded income tax effects in accumulated other comprehensive income stemming from the Tax Cuts and Jobs Act.