A new International Auditing and Assurance Standards Board (IAASB) re-proposal is intended to clarify and strengthen auditors’ responsibilities related to “other information” that is included in organisations’ annual reports outside the audited financial statements.
An effort to create a more accurate depiction of risk-management activities known as “macro hedging” in financial reporting is reflected in a discussion paper released by the International Accounting Standards Board.
The European Parliament adopted a directive that would require large public-interest entities to make certain non-financial disclosures on environmental and social issues.
The International Accounting Standards Board issued a proposal that would amend accounting rules as part of a broader initiative to make financial reporting disclosures more relevant.
New accounting and reporting requirements for entities with insurance contracts published by the UK Financial Reporting Council (FRC) are intended to provide interim guidance in UK and Irish GAAP while the International Accounting Standards Board (IASB) completes its insurance contracts project.
The US Financial Accounting Standards Board and the International Accounting Standards Board failed to reach a consensus for new lease accounting guidance but vowed to continue working together in pursuit of consistency.
The US Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) are struggling to find common ground in their efforts to create a converged standard for financial reporting on leases.
Rising prices for products and services are increasing living costs for expatriates in parts of Asia and Europe, home to the ten most expensive cities in the world.
The US Financial Accounting Standards Board (FASB) took a step forward in its effort to make disclosures in notes to financial statements more useful to investors.
Some of the concerns about the converged lease accounting proposal can be fixed, International Accounting Standards Board (IASB) Chairman Hans Hoogervorst said. He described three changes the IASB and FASB might make to address concerns about implementation costs.
The IFRS Foundation will receive assistance for work on international convergence projects from its US counterpart, the Financial Accounting Foundation (FAF).
The UK Competition Commission announced that it will review its new audit market reform rules in order to consider the impact of an EU proposal that is close to being finalised.
Pay raises around the world are projected to decline in 2014 in most countries. Hay Group research shows a drop in raises in both emerging and developing markets.
US Securities and Exchange Commission Chairman Mary Jo White directed the commission’s staff to develop recommendations for updating the rules for what a company must disclose in its public filings.
Companies need to be ready to implement the new, converged revenue recognition standard that FASB and the International Accounting Standards Board are expected to approve this month. The changes may require the attention of personnel across multiple functions at companies.
Rulemaking duties related to federal legislation have prevented the US Securities and Exchange Commission (SEC) from devoting time to deciding on the future of IFRS in the United States, SEC Chief Accountant Paul Beswick said.
