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The revelations about the accounting shenanigans at Lehman Brothers get more appalling. These accounting tricks destroyed the financial institution which in turn created the financial crisis that d…

Plans for the United States to move to global accounting standards have been delayed for another 12 months with the Security and Exchange Commission announced it was extending the time line for US …

It's reassuring, if inevitable, that Germany being the eurozone's dominant economy is now preparing to bail out Greece, constructing a firewall to ensure the debt crisis doesn't spin ou…

Under audit standards, auditors are required to conduct brainstorming sessions on every audit so they can discuss the potential for fraud and how to respond to the risk of fraud. The Public Company…

The economic crisis is having an impact on financial statements and auditors with Britain’s Financial Reporting Council (FRC), as reported here, warning that accounting firms could sacrifice audit…

Corporate disclosures are about to get a lot longer and a lot more complicated. The International Accounting Standards Board has released its revised set of rules dealing with the classification a…

It wasn’t that long ago that I was warning the commercial real estate market in the United States looked likely to trigger a new mortgage crisis with a soaring delinquency rate and building owners…

Earlier this year, the then incoming head of the Securities and Exchange Commission Mary Schapiro indicated she was in no hurry to bring global accounting standards (otherwise known as Internation…

Earlier this year, the Public Company Accounting Oversight Board came out with a proposal requiring engagement partners to personally sign corporate audit reports.The PCAOB writes: “A requirem…

Do accounting rules excite you? They probably have that effect on Apple shareholders. The Apple share price has hit a 52-week high after the Financial Accounting Standards Board brought in a tentati…