Accounting standards

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.

The number of accountants who belong to professional accounting organizations that are members of the International Federation of Accountants grew 16 percent from 2.4 million to 2.8 million between 2009 and 2013.

The Financial Accounting Standards Board’s 2007 standard on accounting for uncertainty in income taxes, FASB Interpretation No. 48, or FIN 48, has helped discourage companies from using tax reserves to manage their quarterly earnings reports, according to a new study.

Thomson Reuters has added content to its Checkpoint Catalyst research system on the Financial Accounting Standards Board’s financial reporting requirements.

The Public Company Accounting Oversight Board issued a disciplinary order permanently barring CPA David A. Aronson from associating with a registered public accounting firm, and permanently revoking the registration of his firm, David A. Aronson CPA PA.

Paul Pacter speaks up for IFRS

Changing timeliness from a black mark to a hallmark

The Governmental Accounting Standards Board has issued a proposed Implementation Guide containing questions and answers aimed at clarifying, explaining and elaborating on recent GASB standards.

The Financial Accounting Standards Board has issued a proposed accounting standards update to improve the guidance on collectibility, noncash consideration, and completed contracts at transition in the new revenue recognition standard.

FASB released an accounting standards update that eliminates the requirement to retrospectively account for adjustments made to provisional amounts recognized in a business combination.

The International Federation of Accountants has released a Guide to Compilation Engagements to help accountants in small and midsize practices.