ASB approves standard on auditors’ responsibilities relating to fraud
The AICPA Auditing Standards Board approved a new fraud standard to enhance and clarify auditor responsibilities in a financial statement audit.
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The AICPA Auditing Standards Board approved a new fraud standard to enhance and clarify auditor responsibilities in a financial statement audit.
The Financial Accounting Standards Board posted a proposed accounting standards update with targeted improvements to the Accounting Standards Codification.
The Financial Accounting Standards Board issued a proposed ASU to clarify how the definition of cash equivalents applies to digital assets such as stablecoins.
In addition to language tweaks, the proposed Accounting Standards Update includes clarifications related to estimates of expected credit losses and several other topics.
Crypto assets do not clearly meet the definitions of cash, financial instruments or inventory under GAAP, leaving preparers uncertain.
Financial Accounting Standards Board chair Richard Jones is preparing for new agenda projects as well as the likelihood of a semiannual reporting option.
The International Auditing and Assurance Standards Board proposed a set of revisions to the International Standard on Auditing.
The International Financial Reporting Standards Foundation plans initiatives to strengthen the accounting and sustainability reporting standards boards they oversee.
The American Institute of CPAs' Auditing Standards Board adopted new guidance governing the auditor's responsibility for identifying fraud or suspected fraud.
The Federal Accounting Standards Advisory Board released guidance on implementing the disclosure requirements for public-private partnerships.
The specialized enforcement unit will pursue accounting and financial reporting fraud cases, as well as general misconduct in accounting and auditing.
The rule, effective Aug. 7, rescinds CAS 408 and 411 in full and most of CAS 404 and 409 It eliminates 68 of the 72 requirements in the four standards, cutting more than 10,000 wor...
The FASB said secondary-market liquidity alone would not be enough, with holders needing direct issuer redemption rights and one-to-one liquid reserves.
FASB is seeking feedback on a proposal that aims to answer stakeholder uncertainty about how the definition of cash equivalents applies to stablecoins and other digital assets.
On Aug. 5, 2026, the Securities and Exchange Commission announced a new specialized unit within its Division of Enforcement focused on accounting and financial reporting fraud, as...
Investment companies may need to reassess valuation policies, disclosures and financial reporting timelines if the proposal is finalized.
One question deserves far more attention, particularly from accountants and auditors: Which companies will actually choose to report less?
The team of attorneys and accountants' job is spotting when financial reporting crosses from aggressive into misleading.
The International Ethics Standards Board for Accountants released a staff publication on the ethical implications of emerging technologies such as AI.
SAS No. 150, External Confirmations, published Monday following an AICPA Auditing Standards Board vote in May, is designed to address today’s digitally driven environment.
The technical release aims to address implementation challenges shared by practitioners regarding a standard issued a decade ago.
The AICPA’s updated digital assets practice aid addresses the most recent developments in an evolving area.
The International Auditing and Assurance Standards Board proposed revisions to three of its International Standards on Auditing.
On August 5, 2026, the U.S. Securities and Exchange Commission (SEC) announced the establishment of a new financial reporting and accounting unit within the agency’s enforcement di...
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