International accounting

The London-based International Valuation Standards Council is asking for input on some of its new standards for performing valuations on financial instruments, real estate and intangibles.

KPMG Southern Africa, a member of the global advisory network, has ended a 15-year stint auditing companies controlled by the Johannesburg-based Gupta family, after the ruling party and the national graft ombudsman announced investigations into its alleged influence over the state.

The International Auditing and Assurance Standards Board has released ISA 810 (Revised), Engagements to Report on Summary Financial Statements.

The American Institute of CPAs plans to e-mail out ballots to CPAs the week of April 18, immediately after tax season, to vote on a proposal to set up an Association of International CPAs in partnership with the London-based Chartered Institute of Management Accountants.

More than half of companies in India are not yet ready for new Indian Accounting Standards, according to a new survey.

Toshiba Corp. is under investigation by the U.S. over allegations that it hid $1.3 billion in losses at its nuclear power operations, according to two people familiar with the matter. Shares plunged in Tokyo.

Mergers and acquisitions are prompting companies to take risky accounting maneuvers, warns a new report from Deloitte.

The six largest audit firm networks have agreed with international audit regulators on a new initiative to achieve a measurable reduction in audit deficiency findings by 2019.

Helen Brand, chief executive of the Association of Chartered Certified Accountants, is on a mission to expand accounting education across the world.

The Financial Accounting Standards Board issued its long-awaited lease accounting standard Thursday, one of the major convergence projects on which it has collaborated for a decade with the International Accounting Standards Board.

The International Public Sector Accounting Standards Board has released for comment an exposure draft amending the standards for public sector entities under the cash basis of accounting.

Hans Hoogervorst has been re-appointed as chairman of the International Accounting Standards Board for a second five-year term, but his vice-chairman, Ian Mackintosh will not be seeking a second term.

Morison International and KS International have merged to form a $1 billion international association of accounting and professional services firms to be known as Morison KSi.

The International Federation of Accountants has issued a report calling for governments around the world to stop issuing a patchwork set of regulations that are stifling economic growth.

Crowe Horwath International said that total global gross revenues of its member firms grew to US$3.5 billion for calendar year 2015.

Accounting firm network Baker Tilly International reported Thursday that combined global revenues of its member firms around the world grew 7 percent in the 12 months ending June 2015 to US$3.8 billion.

South America’s regional soccer body Conmebol, which has lost its last three presidents under the cloud of a global corruption scandal, is inviting forensic accountants to investigate its business affairs since 2011.

Alex Malley, the chief executive of CPA Australia, a professional organization for accountants in the Land Down Under, has gotten a high-profile new gig: hosting a Sunday morning TV series on a top TV network there.

American Institute of CPAs president and CEO Barry Melancon said the AICPA is pushing the Internal Revenue Service to improve its services for both taxpayers and CPAs while preparing to become a more international organization.

The International Accounting Standards Board issued the long-awaited lease accounting standard that it has been developing for over a decade with the Financial Accounting Standards Board, which is also expected to release its version of the standard early this year.