Accounting & Auditing

Despite seemingly similar language, the U.S. system of accounting and capital market regulation is far different from the British model and is sullying systems elsewhere as the global marketplace seeks convergence. At least that’s the view of Tim Bush, a British chartered accountant with Hermes Pensions Management in London, as described in a recent report, […]

Despite seemingly similar language, the U.S. system of accounting and capital market regulation is far different from the British model and is sullying systems elsewhere as the global marketplace seeks convergence. At least that’s the view of Tim Bush, a British chartered accountant with Hermes Pensions Management in London, as described in a recent report, […]

The H&R Block acquisition of American Express Tax & Business Services creates a new leader among middle-market accounting firms, leapfrogging Grant Thornton to the top of the “Second Six.” Last week, H&R Block announced plans to merge the American Express tax division with its existing RSM McGladrey Business Services subsidiary, which provides non-attest accounting and […]

What does it take to motivate good behavior at all levels of the financial reporting supply chain—from clerks and administrators who gather data, up to the corporate boardroom, and outside the company to its external advisers? That’s a question the International Federation of Accountants hopes to answer with a global study it plans to launch […]

Accounting regulators have drawn an historic line in the sand between audit and tax services, giving accounting firms another reason to act cautiously when providing tax services to audit clients. THE RULES Independence, Taxes PCAOB Rule On Independence, Tax Services, Contingent Fees Related Briefing Paper On Independence Rules Questions? Contact PCAOB Assistant Chief Auditor Bella […]

Accounting regulators have drawn an historic line in the sand between audit and tax services, giving accounting firms another reason to act cautiously when providing tax services to audit clients. THE RULES Independence, Taxes PCAOB Rule On Independence, Tax Services, Contingent Fees Related Briefing Paper On Independence Rules Questions? Contact PCAOB Assistant Chief Auditor Bella […]

Speaking recently at the International Corporate Governance Network Annual Conference in London, Deloitte Touche Tohmatsu CEO William Parrett called on national regulators to convene a special summit before the end of the year with the goal of developing a more uniform global regulatory environment. “In an ideal world, a global regulator would be the answer […]

The Financial Accounting Standards Board is offering an advance preview of its work so far in sorting out the wide variety of financial instruments on the market today, and determining where they belong on the balance sheet. FASB issued a “milestone draft” titled Proposed Classification for Single-Component Financial Instruments and Certain Other Instruments to summarize […]

The Financial Accounting Standards Board is offering an advance preview of its work so far in sorting out the wide variety of financial instruments on the market today, and determining where they belong on the balance sheet. FASB issued a “milestone draft” titled Proposed Classification for Single-Component Financial Instruments and Certain Other Instruments to summarize […]

Companies taking an aggressive position on their tax returns will need to be more conservative and more consistent in reporting the benefit on their financial statements if a proposed position by the Financial Accounting Standards Board is finalized as drafted. FASB issued a draft interpretation titled, “Accounting for Uncertain Tax Positions,” which says companies must […]