A&A news

A&A

PCAOB Adopts Broker-Dealer Attest and Audit Standards

The Public Company Accounting Oversight Board (PCAOB) on October 10 approved two attestation standards and an auditing standard pertaining to audits of brokers and dealers.
A&A

Whistleblowers Need Encouragement, Not Roadblocks

The Dodd-Frank Act expanded existing whistleblower programs, providing cash rewards for significant information given to the SEC. Despite these efforts to stimulate whistleblowing, companies are putting limits on how much (or how little) their employees can report fraud.
A&A

PAOs Play a Key Role in Global Development

When professional accountancy organizations function properly, they hold the power to support the production of high-quality financial information, contributing to public- and private-sector development, economic growth, and the aid-effectiveness agenda.
A&A

Public Company Boards Skeptical of PCAOB Auditor's Report Proposal

Almost half of public company board members surveyed do not think the PCAOB's proposed changes to enhance the auditor's reporting model will improve its usefulness, according to a new survey from BDO USA, LLP.
A&A

CFO Survey: Finance Teams Have Firm Grasp of Regulations

A recent survey of more than 2,100 CFOs found that 73 percent of respondents classified their accounting and finance teams' regulatory and compliance knowledge as either "excellent" or "good."
A&A

GASB to Offer Webcasts of Public Board Meetings

On October 8, one week after launching a new updated website, the GASB said it will provide live video webcasting of its in-person public meetings, beginning with the October 30-31 meeting.
A&A

Attestation Standards for Broker-Dealer Audits on PCAOB Docket

The Public Company Accounting Oversight Board (PCAOB) is expected to discuss adopting attestation standards for auditors of broker-dealers during an open meeting October 10.
A&A

Differences between IFRS and CGAAP Values Widespread and Significant

A new report by the Certified General Accountants Association of Canada (CGA-Canada) reveals that the adoption of International Financial Reporting Standards (IFRS) has had a noticeable impact on the financial statements of Canadian-listed companies.
A&A

SASB to Launch Corporate Sustainability Pilot Initiative

The Sustainability Accounting Standards Board (SASB) is developing a corporate pilot program that will help US public companies use SASB standards to disclose material environmental, social, and governance issues in their annual filings to the SEC.
A&A

GASB Launches New User-Friendly Website

The GASB launched an updated website on September 30 that features more user-friendly navigation and "plain English" resources that provide information on accounting and financial reporting issues for state and local governments.
A&A

SEC Exempts Accountants from Municipal Advisor Registration

The SEC adopted rules establishing a permanent registration regime for municipal advisors as required by Dodd-Frank; however, an accountant who provides audit or other attestation services will not have to register as a municipal advisor.
A&A

FASB to Host Roundtable Meetings on Insurance Proposal

The Financial Accounting Standards Board will host public roundtable meetings in December on its proposed accounting standards update "Insurance Contracts (Topic 834)."
A&A

PCC Finalizes Two GAAP Standards for FASB to Endorse

Two alternatives within US GAAP – accounting for interest rate swaps and accounting for goodwill in a business combination for private companies – were finalized by the PCC during a meeting on October 1.
A&A

ACCA/IMA Report Reveals Ten Key Skills for Future CFOs

While many of today's CFOs have taken the usual finance stepping-stones toward their executive roles, they believe tomorrow's CFOs will need new experiences and key skills to meet the evolving needs of business, according to a new report.
A&A

Private Companies Growing Sales at Slower Rate than Previous Years

On September 23, Sageworks released its latest Private Company Report, a quarterly update on the health and state of privately held US companies.
A&A

PCAOB Expected to Reexamine Audit Transparency Proposal

In an effort to bring greater transparency to public company audits, the PCAOB may reexamine a proposal before the close of 2013 that could require disclosure of the audit engagement partner's name in the audit report.
A&A

FASAC Survey Identifies Top Five Projects for FASB

The primary advisory group for the FASB released results of a recent survey that solicited stakeholder views about the standard-setting board's future agenda, including the top five projects the FASB should pursue in the next three to five years.
A&A

FASB Chairman Russell Golden Outlines Plans for Future

In his first public speech since taking the helm of the FASB, Chairman Russell Golden outlined his top four priorities for the standard-setting board's future during an event on September 12 celebrating FASB's fortieth anniversary.
A&A

FASB OK'd Exposure Draft on Development Stage Entities

The FASB voted on September 11 to approve issuing an exposure draft containing proposals for improving financial reporting about public and private development stage entities.
A&A

Fortune 100 Companies Disclosing More about Auditors

Most Fortune 100 companies disclosed more information about their audit committees and external auditors than was required during the 2013 proxy season, according to a new report by Big Four firm EY.

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