Accounting standards

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.

PricewaterhouseCoopers signed an agreement Wednesday to sell its U.S. Public Sector business to the private equity firm Veritas Capital.

The buy adds incentive management capabilities that help companies comply with the new rev-rec standard.

The Financial Accounting Standards Board is moving forward with a proposed accounting standards update to reclassify the stranded tax effects from the Tax Cuts and Jobs Act of 2017, although at least one investor group has some concerns.

With 2018 upon us and the extraordinary effort we’ve put in to get us past the public company deadline for the new revenue recognition standards, I’d like to highlight three longer-term considerations for companies to keep in mind as they continue to report and operate under the new rules.

India’s tycoon Singh brothers took at least 5 billion rupees ($78 million) out of the publicly traded hospital company they control without board approval about a year ago, people with knowledge of the matter said.

Audit committees at public companies should be aware of some of the accounting implications of the new Tax Cuts and Jobs Act, according to a new report from Ernst & Young.

What is IFRS 16, how will it affect your business and what do you need to do to ensure your leasing arrangements remain compliant?

The new dashboard allows accountants to offer concierge-supported payroll and HR services to their clients.

The fraud trial of three former Tesco Plc executives was halted when one of them, ex-U.K. Chief Financial Officer Carl Rogberg, had a heart attack days before the jury was due to begin deliberations.

The International Public Sector Accounting Standards Board has proposed a new strategy and work plan for 2019 through 2023.