All Accounting & Auditing articles – Page 40
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Aegion appoints chief accounting officer
Aegion has appointed John Heggemann as its senior vice president, corporate controller, and chief accounting officer.
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NVIDIA names chief accounting officer
U.S. technology company NVIDIA has named Donald Robertson as vice president and chief accounting officer.
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KPMG fallout: Cheating allegations raise new questions
After new allegations at KPMG of cheating on internal training tests, audit committees now have another area of questioning for their external auditors.
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SEC overturns PCAOB action stemming from financial crisis
The SEC has canceled sanctions imposed by the PCAOB on a now-retired KPMG auditor connected with a mortgage lender failure at the height of the financial crisis.
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SEC finalizes change to auditor independence rules
The SEC has finalized its revision of auditor independence rules to change the threshold around lending relationships with clients that would raise concerns.
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More cheating charges at KPMG: SEC fines firm $50M
The SEC has fined KPMG for not only allegations of cheating on regulatory inspections, but also new charges of numerous auditors cheating on training exams.
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FASB task force adds new members
The Financial Accounting Standards Board has appointed three new members to its Emerging Issues Task Force.
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Software problems exacerbate lease compliance
Nearing the end of their second quarter observing new lease accounting rules, many public company accounting departments are still cursing their software.
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Kraft Heinz cuts net income, continues with SEC probe
In a recently filed restatement, Kraft Heinz reduced its reported net income by $150 million going back to 2015 to correct employee misconduct in accounting.
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Grant Thornton changes leaders, ending CEO term early
Offering no specific reason for his early departure, Grant Thornton says Mike McGuire is stepping aside as CEO.
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Regulators globally still call for better audits
While encouraged by the trend in audit inspection results, global audit regulators report they are still seeing levels of audit deficiency that command continued focus on improvement.
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New bill seeks to end regulatory stalemate with China
Bipartisan legislation proposes to increase oversight on China-based companies listed on U.S. exchanges and delist those that fail to comply in three years.
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PCAOB disciplines former Big Four auditors
The PCAOB has disciplined two former Big Four auditors—one over an audit of internal control and the other over inspection issues.
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SEC takes questions on knock-on effects of new lease rules
SEC staff members met with the Center for Audit Quality’s SEC Regulations Committee to acknowledge concerns and answer questions associated with new lease accounting rules.
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PCAOB to auditors: better document independence issues
The Public Company Accounting Oversight Board issued guidance to auditors to explain how they should handle communication with audit committees under Rule 3526.
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Bricker resigns chief accountant post at SEC
Wes Bricker, chief accountant at the Securities and Exchange Commission, is leaving his post in June, to be succeeded by Sagar Teotia as acting chief accountant.
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SEC eyeing non-GAAP numbers that alter GAAP
SEC staff members are signaling to public companies that they still have concerns over uses of non-GAAP measures that seem to thumb their nose at GAAP.
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New bill sits on Senate agenda to block, study CECL
A new bill intended to block CECL is awaiting action in the Senate Banking Committee, much to the delight of big banks.
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SEC focus: Reduce burden while protecting investors
The SEC has stuck to its promise to focus on initiatives that can improve capital formation and lighten the regulatory burden.
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Agio enhances SEC cyber-security mock audit service
Agio, a cyber-security and managed IT services provider for financial services, announced enhancements to its SEC cyber-security mock audit service.