On October 11, 2011, the Public Company Accounting Oversight Board (PCAOB) voted to issue for public comment proposed amendments to its standards that would bring greater transparency to public company audits.

Nearly 2,500 letters were sent to the Financial Accounting Foundation demanding the creation of an independent separate board to develop different standards for privately held businesses. According to the AICPA's review, 99 percent of privately held businesses are in favor.

The PCAOB is conducting an open meeting at its headquarters in Washington DC to consider a concept release on ways that auditor independence, objectivity, and professional skepticism could be enhanced.

Steven Zelin, aka "The Singing CPA," and Edith Orenstein, AccountingWEB blogger for Financial Executives International (FEI), have teamed up to create a music video celebrating the third anniversary of the SEC's Advisory Committee on Improvements to Financial Reporting.

Executives from small public companies and auditors representing regional firms participated in the second panel during the SEC's recent roundtable in Washington that explored the benefits and challenges of adopting International Financial Reporting Standards (IFRS).

The Government Accounting Standards Board (GASB) will propose changes later this month to the method used by most U.S. state and local governments when they report unfunded pension liabilities on their balance sheets. The proposed changes could result in an increase in the amount of liabilities governments will report.

AICPA Chairman Paul Stahlin and President and CEO Barry Melancon took time out from their busy schedules this week to address the attendees at this year's annual AICPA Practitioners Symposium and TECH+ conference in Las Vegas.

The Public Company Accounting Oversight Board (PCAOB) has adopted certain rules to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act related to audits of securities brokers and dealers.

The FASB and the IASB late last month announced a delay for completion of the remaining priority convergence projects from June 2011 until late 2011.