A&A news

A&A

KPMG Settles SEC Charges Over Violating Auditor Independence Rules

KPMG LLP has agreed to shell out $8.2 million to settle charges from the US Securities and Exchange Commission, which found that the Big Four firm violated auditor independence rules by providing certain nonaudit services, such as bookkeeping, to affiliates of companies whose books KPMG was auditing.
A&A

Auditing Special Purpose Frameworks - Part 5

The fifth installment in this series looks at how investments, fair value accounting, and derivatives differ within US GAAP and the American Institute of CPAs "Financial Reporting Framework for Small- and Medium-Sized Entities."
A&A

Print Version of FASB Codification Updated

The Financial Accounting Foundation announced on January 21 that is has updated the four-volume print edition of the Financial Accounting Standards Board "Accounting Standards Codification" – recognized as the authoritative source of US GAAP for public and private companies and not-for-profit organizations.
A&A

FASB Makes Tweaks to Goodwill, Interest Rate Swap Standards

The Financial Accounting Standards Board (FASB) on January 16 issued updates for two accounting standards – one on goodwill and the other on interest rate swaps – both of which FASB Chairman Russell Golden said address issues that “private company stakeholders have told us are priorities.”
A&A

Auditing Special Purpose Frameworks - Part 4

To continue laying the foundation of principles for commonly used financial reporting frameworks, this article presents how key issues differ within US GAAP and the American Institute of CPAs "Financial Reporting Framework for Small- and Medium-Sized Entities."
A&A

SEC Sets July 1 as Start of Municipal Advisor Registration

July 1, 2014, is the date when the first set of municipal advisors will be required to register under new rules the US Securities and Exchange Commission finalized last year.
A&A

Bramwell's Lunch Beat: Preparers Are Lukewarm on Auditor Disclosure Proposal

Here are "Bramwell's Lunch Beat" menu items for January 8.
A&A

Auditing Special Purpose Frameworks - Part 3

The last article in this series summarized four basic principles for the income tax basis. Other basic principles for this basis are presented in this article.
A&A

Here Are the Changes to the Single Audit Requirements for 2014

On December 26 the feds finalized changes to the Single Audit requirements. I am writing to give you a quick heads up about how the changes could affect auditors.
A&A

Bramwell's Lunch Beat: Al-Qaida Loves To Do Accounting

Here are "Bramwell's Lunch Beat" menu items for December 30.
A&A

XBRL Taxonomy for US GAAP - Final 2014 Version

The FASB announced it has published a final version of the 2014 US GAAP taxonomy to be used for reporting in eXtensible Business Reporting Language (XBRL), such as for purposes of XBRL reporting requirements under the SEC's rules.
A&A

Final US GAAP Framework for Private Companies Issued by FASB and PCC

The Financial Accounting Standards Board and the Private Company Council on December 23 issued a final decision-making framework for users and preparers of private company financial statements.
A&A

Demand for 'CPA Sleuths' on the Rise

In today's increasingly litigious society, there's certainly no shortage of lawsuits or the lawyers needed to negotiate those proceedings. There's a new player emerging as an indispensable part of many attorneys' legal teams: the forensic accountant.
A&A

Auditing Special Purpose Frameworks - Part 2

This series focuses both on general audit requirements applicable to all financial reporting frameworks as well as specific requirements relevant to two special purpose frameworks – the income tax basis and the AICPA’s FRF for SMEs basis.
A&A

FASB Releases 2014 US GAAP Taxonomy

The FASB released the 2014 US GAAP Financial Reporting Taxonomy, which contains updates for accounting standards and other improvements to the current taxonomy used by US Securities and Exchange Commission issuers.
A&A

Bramwell's Lunch Beat: Weil's Take on Auditor Rotation

Here are "Bramwell's Lunch Beat" menu items for December 19.
A&A

Thomson Reuters Sells Outsourcing Businesses to EY

New York-based Thomson Reuters sold its US tax preparation and court accounting outsourcing businesses to Ernst & Young LLP, the two companies announced on December 17.
A&A

Bramwell's Lunch Beat: Healthy Books Boost Herbalife Shares

Here are "Bramwell's Lunch Beat" menu items for December 17.
A&A

Bramwell's Lunch Beat: Remembering Abraham Briloff

Here are "Bramwell's Lunch Beat" menu items for December 16.
A&A

Auditing Special Purpose Frameworks - Part 1

This series of articles by Larry Perry, CPA, will discuss special considerations concerning engagement acceptance, the planning and performance phase of this type of engagement, and determining an opinion and reporting on the audit.

Pages


Already a member? log in here.