Financial reporting

The Financial Accounting Foundation, which oversees the Financial Accounting Standards Board and the Governmental Accounting Standards Board, is coming out in support of a proposal to create a new Accounting Standards Advisory Forum of international standard setters, but is balking at a requirement that participants need to make a commitment to International Financial Reporting Standards.

Fiscal Cliff Estimator, community service, new studies, Web sites and more

Jill Martin has been named partner in the tax services group at ParenteBeard LLC.

The Financial Accounting Standards Board has released the 2013 U.S. GAAP Financial Reporting Taxonomy.

Grant Thornton reported global revenue growth of 10.4 percent in U.S. dollars, to a record $4.2 billion, for the year ended Sept. 20, 2012. Growth in local currency terms was even higher, at 13.2 percent.

Paul Beswick is the Securities and Exchange Commission’s new chief accountant.

The Securities and Exchange Commission has approved Auditing Standard No. 16, Communications with Audit Committees, as well as amendments to other standards from the Public Company Accounting Oversight Board.

A dose of this week’s office moves, tools, industry reports and charity updates.

The Financial Accounting Standards Board has released a proposal for comment to improve reporting on expected credit losses on loans and other financial assets held as investments by banks, financial institutions and other public and private organizations.

A new company aims to match up accounting contractors with potential employers.

Wednesday was a red-letter day for many accounting departments, as December 19 was the busiest day for submitting expense reports.

Top 100 Firm Sikich LLP added the public accounting and consulting firm, Hill & White LLC. The merger went into effect on December 1.

The International Accounting Standards Board has settled on its future agenda and priorities following a public consultation.

Wave Accounting has adjusted its name and website in an attempt to convey it is more than just a free, cloud-based accounting product maker and to showcase the full suite of its back-office tools.

The International Federation of Accountants has released a document highlighting the best practices for business accountants to follow in terms of effective governance, risk management and internal control.

Organizations are struggling to understand the implications of environmental and social factors in their finances, operations and strategy, according to a new report from the Prince of Wales’s Accounting for Sustainability Project.

Recent network memberships, awards, new apps, Web sites and more

KPMG International announced annual combined revenues of $23.03 billion for the fiscal year ended Sept. 30, 2012, a 4.4 percent increase in local currency terms over the previous year, and a 1.4 percent increase in U.S. dollar terms.

Montreal-based Richter, formerly RSM Richter Chamberland, merged with Toronto-based SBLR LLP Chartered Accountants.

The Financial Accounting Standards Board and the Center for Audit Quality issued a summary Wednesday of observations from two forums on disclosure effectiveness.