Accounting standards

BDO USA LLP is partnering with CoStar Group’s CoStar Real Estate Manager division to advise companies on complying with the lease accounting standard.

More than 125 institutional investors sued Tesco Plc, seeking in excess of 100 million pounds ($122 million) over the U.K. grocer’s 2014 profit overstatement.

The Financial Accounting Standards Board has released an accounting standards update for income taxes related to intra-entity transfers of assets other than inventory.

The Financial Accounting Standards Board has released an accounting standards update on how to treat consolidations of interests held through related parties that are under common control.

The American Institute of CPAs is broadening the range of services to which its Statements on Standards for Accounting and Review Services apply, covering not only reviews of financial statements, but also preparation of financial statements and compilation of prospective financial information.

The Four-Way Test shows GAAP-based financial reporting is unethical

Three former Tesco Plc executives charged with accounting fraud will go on trial in September 2017.

The countdown is on for 2018, as new international accounting rules, IFRS 15 for international countries and ASC 606 for the U.S., will change the way companies need to manage revenue recognition.

The Public Company Accounting Oversight Board announced a cooperative agreement with the audit regulator of Finland, the Finnish Patent and Registration Office.

Grant Thornton International Ltd. has prevailed in a class-action lawsuit brought by three Louisiana pension funds against the firm.

Ernst & Young reported a 9 percent increase in global revenue to $29.6 billion for the fiscal year ending June 30, 2016, the sixth straight year of growth.

The Financial Reporting Executive Committee of the American Institute of CPAs has issued seven working drafts covering issues related to revenue recognition.

The Center for Audit Quality published two new member alerts to help public company auditing firms quickly and proactively address potential risks.

A group of advocacy organizations is urging the Financial Accounting Standards Board to require multinational companies to disclose more information about their taxes.

The Financial Accounting Standards Board has issued a proposed accounting standards update for improving the financial reporting for long-term insurance contracts, including life insurance, disability income, long-term care and annuities.

The Financial Accounting Standards Board’s recent set of proposed technical corrections to its revenue recognition standard are a sign that more companies are getting serious about implementing them.

Companies are beginning to revamp their financial reports to incorporate sustainability disclosures in response to demand from investors.

The American Institute of CPAs’ Accounting and Review Services Committee has finished the last of the standards it has been redrafting and clarifying as part of the AICPA’s Clarity Project.

The Governmental Accounting Standards Board proposed guidance Monday to address a broad set of accounting and financial reporting issues to help state and local governments deal with the implementation and application of certain GASB pronouncements.

The Financial Accounting Standards Board has proposed to amend the amortization period for callable debt securities that are purchased at a premium.