Accounting standards

The Financial Accounting Foundation is filling three soon-to-open seats on its board.

The payroll provider saw the fastest growth in human resource services.

The standard-setter aims to clarify several aspects of Topic 606.

Investors and regulators will benefit from a new Public Company Accounting Oversight Board regulation requiring firms to disclose the lead engagement partner on an audit, according to a new academic study.

Board releases a set of narrow modifications to clarify various rules.

The Financial Accounting Standards Board has released the 2017 GAAP Financial Reporting Taxonomy, although final acceptance by the Securities and Exchange Commission is still pending.

The U.K. Serious Fraud Office dropped its case against former Tesco Plc group commercial director Kevin Grace without charges, a sign the prosecutor may be getting close to ending its probe into accounting practices that caused the grocer to overstate its profit by as much as 326 million pounds ($407 million).

The Public Company Accounting Oversight Board is disciplining Deloitte Accountants NV, imposing a civil monetary penalty of $300,000 on the Netherlands member of the Deloitte Touche Tohmatsu Limited network.

KPMG International reported global revenue growth of 8 percent for FY 2016.

Document can help audit committees evaluate how far along their companies have come.

The Governmental Accounting Standards Board has published guidance for state and local governments on the subject of liabilities known as “asset retirement obligations.”

For professionals in the accounting and finance professions, any changes to accounting standards usually lead to some apprehension as these rules require companies to make key adjustments, expand disclosure practices and implement new procedures for recording various financial metrics.

Leaders of the Financial Accounting Standards Board and the International Accounting Standards Board pledged Tuesday to continue their work together, even after completing their major convergence projects for harmonizing standards.

Officials from the Securities and Exchange Commission and the Center for Audit Quality discussed the effort to rein in the use of non-GAAP financial measures during an American Institute of CPAs conference Monday.

The trustees of the Financial Accounting Foundation announced a number of new members of the councils that advise the standard-setters it oversees, FASB and GASB.

The American Institute of CPAs’ Financial Reporting Executive Committee has issued new working drafts on how the new revenue recognition rules will affect certain industries, including airlines and gaming.

The Governmental Accounting Standards Board has issued a proposed Implementation Guide to help users better understand and apply the board’s statements.

Countries and jurisdictions throughout the world mandate that entity financial statements be prepared using International Financial Reporting Standards, and that audits be conducted in accordance with International Standards on Auditing. Although the use of IFRS and ISAs isn’t mandated in countries such as the U.S., in our increasingly global economy, many accounting firms must now be able to address the needs of clients with reach outside the primary country in which they operate.

The AICPA's Financial Reporting Executive Committee submitted comments to the Financial Accounting Standards Board regarding FASB’s targeted improvements to accounting for hedging activities.

The trustees of the IFRS Foundation, which oversees the International Accounting Standards Board, have reduced the board’s number of members as part of a constitutional review.