Accounting standards

GASB has issued guidance on how certain state and local government external investment pools and participants in external investment pools may measure and report their investments.

Leaders of the Financial Accounting Standards Board and the International Accounting Standards Board are bracing for the release of the leasing standard and other standards that have been under development and generating debate for over a decade.

The Governmental Accounting Standards Board has issued three exposure drafts with reporting guidance related to fiduciary activities, certain asset retirement obligations, and pension issues.

The Financial Accounting Standards Board announced that it plans to issue a final standard on the recognition and measurement of financial instruments in the first week of 2016.

On the heels of the Public Company Accounting Oversight Board’s new standards for disclosure of audit engagement partners, the International Accounting Education Standards Board has issued new guidance for the implementation of its own standard, IES 8, Professional Competence for Engagement Partners Responsible for Audits of Financial Statements (Revised).

The Financial Accounting Standards Board has made available the 2016 GAAP Financial Reporting Taxonomy, pending final acceptance by the U.S. Securities and Exchange Commission.

A group representing community banks is objecting to recent remarks last week by Financial Accounting Standards Board chairman Russell Golden, claiming they “slander” community banks.

The Committee of Sponsoring Organizations of the Treadway Commission, also known as COSO, has introduced an Internal Control Certificate Program.

The Sustainability Accounting Standards Board has issued provisional sustainability standards for renewable energy companies.

The Public Company Accounting Oversight Board adopted new rules during a meeting Tuesday to provide investors with more information about who is participating in public company audits, including the name of the engagement partners and any other firms that participated in the audit.

Akebono Brake Industry Co. has become the latest addition to a series of corporate scandals in Japan, cutting earnings forecasts and executive pay after confirming problematic accounting of sales to distributors.

Robert Stewart, senior vice president of public affairs at the Financial Accounting Foundation, died unexpectedly early last Saturday in his sleep at the age of 62.

The American Institute of CPAs’ Accounting and Review Services Committee has issued three proposed Statements on Standards for Accounting and Review Services, or SSARS, related to prospective and pro forma financial information.

The U.K. accounting regulator should re-examine its decision not to investigate the auditing of now-defunct HBOS Plc by KPMG if it wants to restore public confidence in the audit process, according to U.K. lawmaker and Treasury Committee Chair Andrew Tyrie.

Bloomberg BNA has released two new reports on the Financial Accounting Standards Board’s and the International Accounting Standards Board’s revenue recognition standard.

The Governmental Accounting Standards Board has issued new guidance on its pension accounting standards to help state and local governments that participate in some private or federally sponsored multiple-employer defined benefit pension plans, such as Taft-Hartley plans and plans with similar characteristics.

The Public Company Accounting Oversight Board has scheduled a meeting for next Tuesday to vote on new rules that would require auditing firms to disclose the name of the engagement partner and other accounting firms that participated in an audit.

BDO said Thursday that worldwide revenue for all BDO network’s member firms (including members of BDO firm alliances) totaled $7.3 billion for the fiscal year ended Sept. 30, 2015, a 12.95 percent increase year over year, at constant exchange rates.

The Public Company Accounting and Oversight Board is continuing to encounter resistance from Chinese authorities in its efforts to gain access to inspecting audit firms in China.

Securities and Exchange Commission chair Mary Jo White said the SEC is considering a recommendation from SEC chief accountant James Schnurr that would allow for the supplemental use of International Financial Reporting Standards by U.S. companies in addition to their U.S. GAAP financials.