Financial reporting

The Financial Accounting Standards Board has added a new project to its agenda aimed at making financial disclosures more organized and less redundant.

Ever since we launched a redesigned Web site in late April, we’ve been eager to add new features and we can finally roll out the first major one.

Brown Smith Wallace said it has successfully completed all of its peer review examinations and received the best possible rating for its third consecutive review.

The Private Company Financial Reporting Committee met to discuss topics ranging from revenue recognition to FIN 48-d and loan-loss contingencies.

Financial Accounting Standards Board Chairman Robert Herz refuses to accept the inevitability of another financial system collapse.

A study by KPMG found that goodwill impairments more than doubled during 2008 from 2007 levels at a cross-section of U.S.-based public companies.

Credit-rating agency Fitch Ratings said in a new report that it does not expect FASB’s recent amendments to off-balance-sheet accounting standards to result in negative rating actions, but it believes there will be challenges for issuers and analysts in transitioning to the new standards.

Nine trade groups representing the financial, insurance, banking, real estate and other industries have united to create a coalition with the goal of influencing accounting standard-setters who are working on revising the rules for financial instruments.

New York’s new accountancy reform law, which goes into effect July 26, 2009, broadens the definition of the scope of practice of public accountancy to include all professional services provided by a CPA.

The Ohio Society of CPAs has launched a free online job-listing service to connect businesses with contract CPAs during the recession.

The Financial Accounting Standards Board has issued new standards aimed at fixing the way banks account for securitizations and off-balance-sheet special-purpose entities.

The International Accounting Standards Board is readying new revisions to its standards for accounting for impaired assets in response to pressure from European regulators who have threatened to upset support for International Financial Reporting Standards.

The International Accounting Standards Board has published draft guidance to try to settle the controversial issue of fair value measurement and calm some of the recent political pressure.

Americans today are being forced to review their retirement planning goals with greater scrutiny. No one knows that more than Robert Fishbein, vice president and corporate counsel with Prudential Financial, Inc. He has now offered tips on how to get through this economic turmoil.

Three out of four audit committee members say they have increased their hands-on involvement with management, and are reassessing risk management and oversight as a result of the economic crisis, according to a new survey.

Employment search provider Monster Worldwide agreed to pay the SEC $2.5 million in penalties to settle stock option backdating charges.

Ten years ago, the Dow Jones Sustainability Index began to track the financial performance of leading sustainability-driven companies around the world.

Five trade groups representing banks, financial service firms and insurance companies sent a joint letter to Congress registering continued displeasure with fair value and mark-to-market accounting and impairment rules, despite recent changes.

BDO Seidman memorialized the passing of former managing partner and FDIC Chairman L. William “Bill” Seidman, a member of the firm’s founding family.

Grant Thornton has sent a letter to federal officials proposing that banking regulators adjust capitalization requirements to take into account the broader economic environment.