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Latest News - Regulation

HKICPA denies it will lose regulatory power

  • Author: TA editorial
  • Published: 13 Apr 2010

Hong Kongs professional accounting body will not lose its powers for practice review, investigations, enforcement and discipline despite media.... read more

UK oversight board confirms inspection scope

  • Author: TA editorial
  • Published: 13 Apr 2010

The UK Professional Oversight Board (POB) has published the criterion that identifies the firms to be inspected by the Audit Inspection Unit (AIU).... read more

IASB publishes staff paper on liabilities IFRS

  • Published: 9 Apr 2010

A new IFRS that focuses on liabilities is to replace IAS 37 Provisions, Contingent Liabilities and Contingent Assets. The International Accounting.... read more

Next 18 months could make or break IFRS: VĂ©ron

  • Published: 31 Mar 2010

Vron said the possibility of convergence between IFRS and US standards was dealt a big setback in July 2009, when the International Accounting.... read more

SEC probes US companies on repurchase accounts

  • Published: 30 Mar 2010

The US Securities and Exchange Commission (SEC) is looking into how certain US public companies account for repurchase agreements and other.... read more

Regulators in oversight stand-off

  • Author: Carolyn Canham
  • Published: 26 Mar 2010

Audit firms are being squeezed by regulators that cannot agree how to co-operate when overseeing firms that audit companies listed in foreign.... read more

Maijoor calls for European audit body

  • Author: Carolyn Canham
  • Published: 25 Mar 2010

A European Auditing Authority (EAA) should be set up to work in tandem with a network of national auditing regulators, according to International.... read more

Greek watchdog joins IFIAR

  • Published: 25 Mar 2010

The Hellenic Accounting and Auditing Oversight Boards first official meeting with IFIAR was at the forums March meeting, which was held in Abu.... read more

Lack of evidence worries watchdog

  • Author: TA editorial
  • Published: 25 Mar 2010

Nearly 20% of audit engagements carried out by large Australian firms did not contain appropriate evidence to support key audit conclusions,.... read more

E&Y under investigation in US and UK

  • Author: Carolyn Canham
  • Published: 25 Mar 2010

Ernst & Youngs (E&Y) failure to challenge the use of Repo 105 accounting techniques by failed bank Lehman Brothers is being examined by both a US.... read more

Time ticking for SOX exemption

  • Author: Carolyn Canham
  • Published: 26 Feb 2010

US Center for Audit Quality (CAQ) chief executive Cindy Fornelli hopes the deadline for small US listed companies to comply with Sarbanes-Oxley Act.... read more

FRC keeps watch on consulting growth

  • Author: Carolyn Canham
  • Published: 26 Feb 2010

UK Financial Reporting Council (FRC) chief executive Stephen Haddrill has warned the regulator is monitoring the Big Fours consulting services.... read more

UK introduces world's first audit firm governance code

  • Author: Carolyn Canham
  • Published: 27 Jan 2010

The eight firms that audit about 95 percent of companies listed on the main market of the London Stock Exchange must now comply with an Audit Firm.... read more

Australia eyes red tape reduction

  • Author: Nicholas Moody
  • Published: 27 Jan 2010

Australian regulators have released wide-scale proposals, including a two-tier reporting system, to help reduce corporate reporting burdens for.... read more

Co-operation

  • Author: TA editorial
  • Published: 27 Jan 2010

PricewaterhouseCoopers public policy spokesperson Pauline Wallace says one of the good things to come out of the financial crisis has been.... read more

Addressing the bank problem

  • Author: Carolyn Canham
  • Published: 27 Jan 2010

The International Accounting Standards Board (IASB) should provide two separate lines on loan loss provisions in financial statements to avoid a.... read more

Australian watchdog outlines priorities

  • Author: TA editorial
  • Published: 27 Jan 2010

Companies and auditors should focus on the appropriateness of going concern assumptions, asset impairments, fair value determinations and revised.... read more

Sarbanes-Oxley comes under fire in US High Court and Congress

  • Author: TA editorial
  • Published: 14 Dec 2009

The Sarbanes-Oxley Act (SOX) has come under fire from two directions this month. On 7 December, the High Court began considering whether the US.... read more

FRC advises on non-audit services

  • Author: TA editorial
  • Published: 27 Nov 2009

The UK Financial Reporting Council (FRC) has advised larger audit firms to be cautious before entering agreements that might stretch the.... read more

Opinion divided over SOX delay for small companies in the US

  • Author: TA editorial
  • Published: 2 Nov 2009

A further delay in the implementation of Section 404(b) of the Sarbanes-Oxley Act (SOX) for small public companies is a negative move with few.... read more


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