International accounting

The International Valuation Standards Council and the Appraisal Foundation have released a document explaining how they plan to harmonize their standards for assessing the value of both tangible and intangible assets.

The European Union’s new rules for mandatory audit firm rotation took effect on June 17, only a week before the United Kingdom voted to “Brexit” from the E.U. How will that affect audit firm rotation in the U.K. and Europe?

The long awaited credit loss standard that the Financial Accounting Standards Board released last week is expected to have a wide-ranging impact beyond only banks and financial services firms.

Whenever I meet a new accountant, I always ask them, “Does your firm have a department specializing in Space Accounting?” It is surprising to me when they respond with expressions of confusion and bewilderment.

The Financial Accounting Standards Board issued Thursday its long awaited accounting standards update for credit losses, part of the convergence project on financial instruments that it has been working on with the International Accounting Standards Board for eight years.

The Committee of Sponsoring Organizations of the Treadway Commission, also known as COSO, has unveiled a proposed update to its 2004 enterprise risk management framework.

South Korea is considering a bill that would allow regulators to oust the CEO of an accounting firm that is found to be negligent in controlling audit quality.

KPMG stepped down as FIFA’s auditing firm as soccer’s world governing body races to clean up a reputation dented by allegations of bribery and corruption.

The trustees of the IFRS Foundation have suggested a number of amendments to its constitution.

The World Gold Council, a market development organization for the gold industry, has some ideas about developing a common accounting framework for gold that could be used by central banks in countries around the world.

Alibaba Group Holding Ltd. said it’s being investigated by the U.S. Securities and Exchange Commission over its accounting practices and whether they violate federal laws.

Baker Tilly Virchow Krause's incoming CEO, Alan Whitman, explains in this video how his firm fits into Baker Tilly's international network.

The head of the International Accounting Standards Board is echoing concerns abroad also voiced by leaders of the U.S. Securities and Exchange Commission about the increasing use of non-GAAP measures in the financial statements of public companies.

A new accounting rule that will force banks to set aside provisions for bad loans long before they sour could cannibalize profits and eat into capital at U.S. lenders.

U.S.-based accounting and consulting firm association Allinial Global has signed a letter of intent to combine with a U.K.-based accounting and business advisory firms, IAPA International.

Anne-Lise Vivier of Thomson Reuters explains in this video some of the differences in the lease accounting standards under U.S. GAAP and IFRS.

Anne-Lise Vivier of Thomson Reuters discusses some of the changes in FASB's new lease accounting standards in this video.

The Financial Accounting Standards Board has voted to proceed with issuing a long-awaited standard in June on credit losses on loans and other financial instruments, a key component of its financial instruments convergence project with the International Accounting Standards Board, and to defer the effective date for one year.

The Vatican’s Holy See has suspended its contract with PricewaterhouseCoopers but stressed that the suspension is not due to problems with PwC’s work.

Drew Bernstein of Marcum Bernstein & Pinchuk explains the challenges of auditing in emerging markets like China.