SEC appoints acting chief accountant
The US’ Securities and Exchange Commission (SEC) has appointed Sagar Teotia as its acting chief accountant following the departure of…
ByMonth: May 2019
FASB SIMPLIFIES ACCOUNTING FOR GOODWILL, INTANGIBLES FOR NOT-FOR-PROFITS
The US Financial Accounting Standards Board (FASB) has issued an Accounting Standards Update (ASU) that reduces the cost of accounting for goodwill…
Hong Kong’s FRC and China’s Ministry of Finance sign MoU on cooperation of audit regulation
Hong Kong’s Financial Reporting Council (FRC) and the Supervision and Evaluation Bureau (SEB) of China’s Ministry of Finance (MOF) have…
The UK’s FRC sets out plan to transition into ARGA
The UK’s Financial Reporting Council (FRC) has set out its plan to transition into the new regulator Audit, Reporting and…
ByAccountex puts the future in perspective
The world of accounting and finance is facing some pretty daunting questions right now… Will robots/artificial intelligence steal all the…
KPMG US to add tax program at VSB and USC to its Master of Accounting Program
The Villanova School of Business (VSB) and the University of Southern California (USC) Leventhal School of Accounting is adding a…
FASB issues simplification initiative for income tax
Specific exceptions will be eliminated to the general principle in Topic 740—Income Taxes in Generally Accepted Accounting Principles (GAAP), following…
ACCA study reveals 55% of public misunderstand audit
A research study conducted by the Association of Chartered Certified Accountants (ACCA) has revealed that 55% of the public believe…