The FAF and the AICPA released the following statements regarding the retirement on June 30 of Financial Accounting Standards Board (FASB) Chairman Leslie F. Seidman and Governmental Accounting Standards Board (GASB) Chairman Robert H. Attmore.
On June 26, 2013, the Financial Accounting Standards Board (FASB) issued a proposal intended to improve disclosures of uncertainties related to an organization's ability to continue as a going concern.
In boardrooms across the country, finance executives share a common question: Will he stay or will he go? All eyes are on Ben Bernanke amid speculation that he will cede the top spot at the Federal Reserve.
The CAQ and the AAA Auditing Section announced four awards as part of a new program designed to facilitate accounting and auditing academics' ability to obtain access to audit firm personnel to participate in their research projects.
The GASB is seeking public comment on a proposed concepts statement it issued on June 20 that would guide the GASB when establishing standards regarding the measurement of assets and liabilities for state and local governments.
A North Carolina man who was the owner and operator of an investment fund that defrauded investors of approximately $6 million over a seven-year period agreed to plead guilty to securities fraud in US District Court on June 17.
Stating that it would "significantly weaken the financial reporting of private companies," NASBA is recommending to privately held businesses that they not use the FRF for SMEs that was introduced by the AICPA June 10.
The FASB on June 10 endorsed three accounting proposals from the Private Company Council in the hopes of addressing concerns raised by stakeholders about the complexity of certain aspects of US GAAP for privately held companies.
The FASB has developed a new guideline for determining whether a public or private company is an investment company, for which fair value of investments is the most relevant measurement for the company's financial statement users.
The IFRS Foundation has completed the first phase of an important initiative to assess the progress toward global adoption of IFRSs. The G20 has called for global adoption of a single set of high-quality financial reporting standards.