International accounting

The International Auditing and Assurance Standards Board has finalized the changes in its standard for auditor reporting on special purpose financial statements.

Leaders of the Financial Accounting Standards Board and the International Accounting Standards Board are bracing for the release of the leasing standard and other standards that have been under development and generating debate for over a decade.

On the heels of the Public Company Accounting Oversight Board’s new standards for disclosure of audit engagement partners, the International Accounting Education Standards Board has issued new guidance for the implementation of its own standard, IES 8, Professional Competence for Engagement Partners Responsible for Audits of Financial Statements (Revised).

Akebono Brake Industry Co. has become the latest addition to a series of corporate scandals in Japan, cutting earnings forecasts and executive pay after confirming problematic accounting of sales to distributors.

The U.K. accounting regulator should re-examine its decision not to investigate the auditing of now-defunct HBOS Plc by KPMG if it wants to restore public confidence in the audit process, according to U.K. lawmaker and Treasury Committee Chair Andrew Tyrie.

BDO said Thursday that worldwide revenue for all BDO network’s member firms (including members of BDO firm alliances) totaled $7.3 billion for the fiscal year ended Sept. 30, 2015, a 12.95 percent increase year over year, at constant exchange rates.

The Public Company Accounting and Oversight Board is continuing to encounter resistance from Chinese authorities in its efforts to gain access to inspecting audit firms in China.

A new international survey ranks Zurich, Switzerland as the highest-paying city for accountants, with another Swiss city, Geneva, in second place.

CEOs of several major accounting organizations around the world have signed an open letter urging world leaders to agree on reducing carbon emissions.

Securities and Exchange Commission chief accountant James Schnurr indicated Tuesday that he plans to recommend to SEC chair Mary Jo White that U.S. companies be allowed to use International Financial Reporting Standards to provide supplemental information, in addition to filing their financials in accordance with U.S. GAAP.

Financial Accounting Standards Board chairman Russell Golden and technical director Susan Cosper discussed FASB’s upcoming leasing, classification, impairment and hedge accounting standards during a conference in New York, along with the board’s plans for future standards.

Don’t expect to find these rarely seen accounting movies on Netflix or TCM. They never won more than a cult following, much less an Academy Award, perhaps because of an unfortunate resemblance to previous Oscar winners.

The accounting profession is strongly linked to national economic growth and improved living standards and is estimated to contribute $575 billion annually to the global economy, according to a new report.

BDO Canada LLP has merged in Majewski Shaler & Co., a Vancouver-based accounting practice.

BDO Canada LLP has acquired H&A Forensic Accounting, a Toronto-based professional forensic accounting and advisory firm.

Toshiba Corp. sued three former presidents as the maker of personal computers and power plants tries to recover from accounting irregularities that have led to profit write-downs of more than $1.2 billion over almost seven years.

A key accounting safeguard intended to protect U.S. investors who buy shares of Chinese companies is close to unraveling.

To Paul Pacter: It's the ends that matter, not the means

The International Federation of Accountants has published a paper calling for more “integrated thinking” by accountants.

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.