All Accounting and Auditing articles

  • Blog post

    FloQast control addresses signed-off reconciliations


    Close management software provider FloQast announced the release of a new control to prevent sign-off on reconciliations that are not tied out.

  • Blog post

    BT triples writedowns after full probe of accounting irregularities


    Paul Hodgson looks at the recently revealed rise in writedowns for BT and how the company plans to rectify accounting issues in its Italian operation.

  • Blog post

    Make it clearer, says Financial Reporting Council


    The Financial Reporting Council has given audit committee chairs and finance directors a shopping list of improvements it expects companies to make to their annual reports. Paul Hodgson has more.

  • Article

    The Popularity, and Peril, of Structured Payable Programs


    Image: Structured payable programs have become increasingly popular in recent years as companies and their lenders search for new ways to access working capital. But according to Robert Rostan, CFO and principal at education firm Training The Street, such arrangements could turn short-term accounts payable into longer-term debt that requires ...

  • Blog post

    IRS Ponders Tax Issues of New Revenue Recognition Rules


    The Internal Revenue Service is asking for comments on how the new revenue recognition accounting standards will affect tax reporting. Tax rules require companies to secure permission from the IRS if they are making accounting method changes for federal income tax purposes, so the agency is now growing concerned over ...

  • Blog post

    What You Tell the Audit Committee About Auditors


    Image: You might have forgotten, but once upon a time a company’s audit committee was primarily responsible for—get this—the annual audit. Compliance Week recently surveyed compliance and audit executives to ask: What information do you bring to the audit committee when reviewing the performance of your audit firm? Inside, Editor ...

  • Blog post

    FASB, IASB Staff Call for Changes to Revenue Rules


    Staff members of both the U.S. and international accounting rulemakers are recommending that their boards re-open their massive joint standard on revenue recognition to answer specific questions around implementation. The Joint Transition Resource Group has fielded nearly 40 issues that companies have encountered; FASB began to consider possible changes this ...