International accounting

Economic confidence improved globally in the third quarter of 2017, but continued to fall in the U.S., according to a new survey of accountants.

Fayezul Choudhury, CEO of the International Federation of Accountants, discusses how IFAC is helping emerging economies develop their associations for accountants.

KPMG LLP’s South African unit appointed nine new executives in an attempt to restore trust in the auditing firm as clients continued to distance themselves over its involvement with the politically connected Gupta family.

An internal probe found that mistakes in two high-profile engagements did not run throughout its business.

The report is part of IASB’s better communication in financial reporting initiative.

PricewaterhouseCoopers reported 7 percent revenue growth worldwide Wednesday for fiscal year 2017, reaching a record $37.7 billion.

South Africa’s auditing regulator said KPMG LLP’s local unit hasn’t fully cooperated with the body’s investigations into work done for the Gupta family, who are alleged to have used political connections to win state contracts.

KPMG International has chosen Bill Thomas as chairman of the global network for a four-year term, succeeding John Veihmeyer, who is retiring after completing his term.

The Big Four network will examine its local member's work in certain engagements, as well as its entire client roster.

The Big Four firm's involvement with a wealthy family is putting it under pressure.

The Big Four firm has agreed to an inquiry by the South African Institute of Chartered Accountants.

As global companies implicated in a graft scandal in South Africa scramble to contain the damage to their reputations, politicians and law enforcement agencies are prevaricating and stalling official investigations.

KPMG LLP said the head of its South African office and seven other senior executives quit after an internal investigation found that work done for the politically connected Gupta family fell “considerably short” of the auditing firm’s standards.

Deloitte saw its global annual revenue reach $38.8 billion in the fiscal year ended May 31, 2017, a $2 billion increase over the prior year.

The International Ethics Standards Board for Accountants is suggesting a set of changes prohibiting inducements.

Ernst & Young experienced strong global revenue growth in the fiscal year ending June 30, 2017, increasing 7.8 percent on a local currency basis since the previous fiscal year, reaching a total of $31.4 billion for its member firms around the world.

The International Public Sector Accounting Standards Board is circulating some proposed revisions to its financial instruments standard for government entities to harmonize it with the International Accounting Standards Board’s financial instruments standard for businesses.

The Institute of Management Accountants is partnering with ANEFAC, the National Association of Executives in Finance, Administration and Accounting, to support the international advancement of the management accounting profession in Brazil.

The International Public Sector Accounting Standards Board is mulling new guidance on how the public sector should account for revenue and non-exchange expense transactions, such as the provision of education, health care and defense, in light of the revenue recognition standard.

International Federation of Accountants CEO Fayezul Choudhury is bringing the influence of accountants to the fore to help solve problems around the world.