Accounting standards

The accounting profession is strongly linked to national economic growth and improved living standards and is estimated to contribute $575 billion annually to the global economy, according to a new report.

The Financial Accounting Standards Board voted Wednesday to proceed to issuing a final standard on its long-delayed project for overhauling the accounting for leases and set the dates for when the new standard will take effect.

BDO Canada LLP has merged in Majewski Shaler & Co., a Vancouver-based accounting practice.

BDO Canada LLP has acquired H&A Forensic Accounting, a Toronto-based professional forensic accounting and advisory firm.

Toshiba Corp. sued three former presidents as the maker of personal computers and power plants tries to recover from accounting irregularities that have led to profit write-downs of more than $1.2 billion over almost seven years.

A key accounting safeguard intended to protect U.S. investors who buy shares of Chinese companies is close to unraveling.

To Paul Pacter: It's the ends that matter, not the means

The International Federation of Accountants has published a paper calling for more “integrated thinking” by accountants.

The American Institute of CPAs’ Financial Reporting Executive Committee has released for comment working drafts of revenue recognition implementation issues it has identified for the aerospace and defense industry and the investment asset management industry.

The vast majority of companies are not prepared for the major changes in accounting and business operations required by the new revenue recognition standard, according to a new survey.

The American Institute of CPAs’ Auditing Standards Board has issued a new auditing standard on internal control and an interpretation related to the sustainability financial statements used by the government for long-term projections of social insurance programs.

South Korea will draw up measures to increase transparency to the accounting methods used by construction and shipbuilding companies to prevent them from running up huge losses when projects are delayed.

The Sustainability Accounting Standards Board has introduced a new credential for accountants and other professionals who deal with sustainability issues.

The Financial Accounting Standards Board and the International Accounting Standards Board have delayed the effective date of their converged revenue recognition standard for a year, but companies are going to need the extra time to get their systems adjusted.

Valeant Pharmaceuticals International Inc. shares slumped as Chief Executive Officer J. Michael Pearson’s defense of the drugmaker’s accounting and ethics failed to resonate with investors fretting about its relationship with a mail-order pharmacy.

The CAQ highlights nine areas auditors will want to pay particular attention to in the next audit cycle

The dizzying rise and rapid fall in the shares of drugmaker Valeant Pharmaceuticals International Inc. is eerily familiar to Canadian investors still smarting from the last time a small market was dominated by single stocks—BlackBerry Ltd. and Nortel Networks Corp.

The Public Company Accounting Oversight Board issued a report Thursday warning about significant deficiencies it is seeing in auditing firms’ assessment of risks in their clients.

The Governmental Accounting Standards Board has proposed new guidance to help state and local governments that participate in certain multiple-employer pension plans meet the reporting requirements of GASB’s pension standards.

An overwhelming majority of corporate board directors oppose the Securities and Exchange Commission’s proposal to require mandatory disclosure of communications between audit committees and auditors, according to a new survey.