Financial reporting

In a vote at its Spring Meeting, the Governing Council of the American Institute of CPAs authorized the board to offer the institute’s credentials overseas.

The American Institute of CPAs voted to allow changes in the definition of “attest” during its Spring Meeting of Council on Sunday in an effort to fend off competition from non-CPA firms and unlicensed CPAs who offer attest services using AICPA standards.

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The Tax & Accounting business of Thomson Reuters launched its sixth annual series of Partner Summits this week with a two-day event in Houston.

Big Four firm KPMG led the pack among large and national firms in the market for Securities and Exchange Commission audit clients in the first quarter of 2013, with a net of seven new clients.

The Financial Accounting Standards Board is looking for comment on proposed structural changes to the U.S. GAAP Taxonomy.

The Financial Accounting Standards Board and the International Accounting Standards Board have released for comment a revised exposure draft proposing significant changes to the standards for accounting for leases.

Top 100 Firm Kahn, Litwin, Renza & Co. announced the opening of KLR Emerging Business Center. The center will provide co-working office space and accounting services to start-up and emerging companies.

Fifteen of the largest banks in the U.S. have written a letter to the chairmen of the Financial Accounting Standards Board and the International Accounting Standards Board encouraging them to resolve their differences over the standards for credit losses in their financial instruments convergence project.

The American Institute of CPAs has a number of high-profile items on the agenda for its Spring Meeting of Council next week, including re-evaluating its recognition of the International Accounting Standards Board as a standard-setter, changing the definition of attest services and globalizing more of its credentials.

The Financial Accounting Standards Advisory Council, which advises the Financial Accounting Standards Board on its priorities and agenda, is asking for suggestions on what FASB’s future agenda should be.

Representatives of the International Accounting Standards Board and the Accounting Standards Board of Japan met Thursday and Friday in Tokyo to discuss their new relationship through the recently established Accounting Standards Advisory Forum as their one-to-one meetings come to an end.

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Intacct has unveiled Flex Reporting, a new tool designed to allow strategic CFOs to manage performance, look at financial metrics -- particularly accounting measures-- and performance related information unique to an organization.

Mueller Prost PC has combined its CPA and business advisory firm with Accurate Business Results.

The tax, accounting and business consulting firm Habif, Arogeti &Wynne LLP has agreed to merge in JRZ LLC.

The Private Company Council voted Tuesday to move forward with proposed alternatives within U.S. GAAP to improve financial reporting for private companies.

CFOs who are hiring accounting and finance staff are looking beyond accounting skills, according to a new survey.

Check out the digital edition of the May 2013 issue of Accounting Today.

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