Accounting standards

A post-implementation review of the Financial Accounting Standards Board’s 1997 standard on earnings per share found the standard generally achieved its purpose.

Christine Ann Botosan, an accounting professor at the University of Utah’s David Eccles School of Business and a former president of the American Accounting Association, has been appointed as the newest member of the Financial Accounting Standards Board.

The Financial Accounting Standards Board is expected to release its long-awaited lease accounting standard this quarter, and companies are bracing for the impact on their balance sheets.

The International Public Sector Accounting Standards Board has released for comment an exposure draft amending the standards for public sector entities under the cash basis of accounting.

The International Ethics Standards Board for Accountants has released for public comment an updated exposure draft on a standard for addressing how audit firm personnel should act toward an audit or assurance client who has a long association with the firm.

Hans Hoogervorst has been re-appointed as chairman of the International Accounting Standards Board for a second five-year term, but his vice-chairman, Ian Mackintosh will not be seeking a second term.

The Governmental Accounting Standards Board issued a guidance Thursday to provide clarity about how certain component units incorporated as not-for-profit corporations should be presented in the financial statements of the primary state or local government.

Morison International and KS International have merged to form a $1 billion international association of accounting and professional services firms to be known as Morison KSi.

The Governmental Accounting Standards Board has issued a proposal to establish a single approach for state and local governments to report leases based on the principle that leases are financings of the right to use an underlying asset.

A group of community bankers from the Independent Community Bankers of America met last week with the Financial Accounting Standards Board to discuss their concerns with FASB’s upcoming impairment standard on credit losses.

The International Federation of Accountants has issued a report calling for governments around the world to stop issuing a patchwork set of regulations that are stifling economic growth.

Crowe Horwath International said that total global gross revenues of its member firms grew to US$3.5 billion for calendar year 2015.

Accounting firm network Baker Tilly International reported Thursday that combined global revenues of its member firms around the world grew 7 percent in the 12 months ending June 2015 to US$3.8 billion.

The Financial Accounting Standards Board decided Wednesday to add four financial reporting issues and two more projects to its research agenda.

South America’s regional soccer body Conmebol, which has lost its last three presidents under the cloud of a global corruption scandal, is inviting forensic accountants to investigate its business affairs since 2011.

The Sustainability Accounting Standards Board has signed a memorandum of understanding with the Institute of Management Accountants to advance the management and disclosure of nonfinancial information in corporate reports.

The Financial Accounting Standards Board’s Emerging Issues Task Force has proposed an accounting standards update for how certain cash receipts and cash payments would be classified on the statement of cash flows.

The Institute of Internal Auditors has proposed changes to its International Standards for the Professional Practice of Internal Auditing to help internal auditors meet the challenges of today’s business environment.

Alex Malley, the chief executive of CPA Australia, a professional organization for accountants in the Land Down Under, has gotten a high-profile new gig: hosting a Sunday morning TV series on a top TV network there.

American Institute of CPAs president and CEO Barry Melancon said the AICPA is pushing the Internal Revenue Service to improve its services for both taxpayers and CPAs while preparing to become a more international organization.