The AICPA recently released an updated guide that aids auditors in assessing the fair value of financial instruments. The publication is based on new standards resulting from the AICPA's Clarity Project.
Underscoring the importance of performing extensive due diligence before investing in the world's second largest economy, construction equipment giant Caterpillar got burned to the tune of $580 million.
A US House panel is investigating whether the Public Company Accounting Oversight Board (PCAOB), the nation's chief public company audit overseer, is doing enough to incorporate economic factors into new regulations it is proposing.
Financial analysts say there's not enough detail being provided in reports from companies that use derivatives and hedging activities, which makes analysis of investments that rely significantly on such financial instruments riskier.
FAF, the private-sector organization charged with oversight of accounting standards set by FASB, recently took a look back at the effectiveness of a standard established to improve the way public companies report information about their business segments.
FASB has issued a request for public comment on its proposal to improve financial reporting disclosures on repurchase agreements in order to more properly reflect a company's obligations and risks in some circumstances.
It's a great time to be a corporate internal auditor – pay and perks for the profession are growing at a faster pace than most other jobs. Internal auditors in the United States and Canada received a median 3 percent increase in their base salaries in 2012, the second year in a row they've seen an increase.
The Governmental Accounting Standards Board (GASB) has approved a new standard intended to improve accounting and financial reporting for US state and local governments' combinations and disposals of government operations.
Private companies and not-for-profit entities can expect to be the focus in many of the deliberations of the Financial Accounting Standards Board (FASB) in 2013 as the result of major decisions made in 2012.
In an effort to alert companies to common pitfalls encountered by audit committees, ParenteBeard has released its "Seven Deadly Sins of Audit Committees," which are based on research and feedback compiled at the firm's annual Audit Committee Forum.