Accounting standards

The Public Company Accounting Oversight Board is conducting a post-implementation review of its Engagement Quality Review standard and is looking for feedback on the effectiveness of the 2009 standard.

The American Institute of CPAs’ Auditing Standards Board has issued a new auditing interpretation on audit reports.

The American Institute of CPAs' Auditing Standards Board has completed its Clarity Project by issuing its final standard.

The Public Company Accounting Oversight Board released a report Tuesday indicating that the vast majority of audit firms were doing a good job of complying with a recent standard on communications with their client’s audit committees.

KPMG Southern Africa, a member of the global advisory network, has ended a 15-year stint auditing companies controlled by the Johannesburg-based Gupta family, after the ruling party and the national graft ombudsman announced investigations into its alleged influence over the state.

The Sustainability Accounting Standards Board has issued provisional sustainability accounting standards for the infrastructure sector, including electric utilities, engineering and construction services, gas utilities, home builders, real estate owners, developers and investment trusts, real estate services, waste management and waste utilities.

The Financial Accounting Standards Board has issued an accounting standards update to improve the accounting for employee share-based payments.

The Governmental Accounting Standards Board has issued recognition and measurement guidance for state and local governments that benefit from irrevocable split-interest agreements.

The Sustainability Accounting Standards Board has launched an Advisory Partner Program to encourage corporate and investor application of SASB's standards and guidance on sustainability accounting.

The International Auditing and Assurance Standards Board has released ISA 810 (Revised), Engagements to Report on Summary Financial Statements.

The new lease accounting standard is likely to have a much greater impact on lessees than lessors.

The Governmental Accounting Standards Board has issued implementation guidance containing questions and answers to clarify some of its recent standards.

The American Institute of CPAs plans to e-mail out ballots to CPAs the week of April 18, immediately after tax season, to vote on a proposal to set up an Association of International CPAs in partnership with the London-based Chartered Institute of Management Accountants.

The Financial Accounting Standards Board has named the members who will serve on a Transition Resource Group to help with implementation of its upcoming credit losses standard.

More than half of companies in India are not yet ready for new Indian Accounting Standards, according to a new survey.

The Financial Accounting Standards Board has amended the converged revenue recognition standard it developed with the International Accounting Standards Board to add more guidance about principal versus agent considerations.

Toshiba Corp. is under investigation by the U.S. over allegations that it hid $1.3 billion in losses at its nuclear power operations, according to two people familiar with the matter. Shares plunged in Tokyo.

The Financial Accounting Standards Board has issued an accounting standards update making it easier for companies to transition to the equity method of accounting.

Lee Klumpp of BDO USA describes in this video the trends in accounting standards that not-for-profit organizations are dealing with.

Mergers and acquisitions are prompting companies to take risky accounting maneuvers, warns a new report from Deloitte.