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FASB Rethinks Lawsuit-Accounting Plan
The board is taking its time revising its contentious proposal to expand requirements for disclosures about potential litigation losses. August 20, 2009
SEC Zeroes In on Sale-leasebacks
The regulator settles with two companies, Terex and GE, over alleged schemes to recognize revenue prematurely. August 13, 2009
Simplified Reporting: Forgotten in the Crisis?
It's been a year since an SEC advisory committee made suggestions for improving the standard-setting and preparation that goes into financial statements. August 12, 2009
The SEC's Most Wanted
What does the regulator most want to see in future financial filings? Recent comment letters suggest that the Securities and Exchange Commission has a keen interest in goodwill impairments, fair-value measurements, and credit-risk disclosures. August 3, 2009
PCAOB: Experts Only for Final Audit Reviews
But some finance executives fear the new rule could generate time-consuming, costly work. July 28, 2009
Audit Overseer Faults BDO, Grant Thornton
The PCAOB says BDO had trouble testing revenue-recognition controls, while Grant Thornton did not adequately identify GAAP errors. Both firms complain that the board criticized judgment calls. July 13, 2009
The Fair-Value Deadbeat Debate Returns
On hiatus while other fair-value questions were debated, the hotly-contested issue of why companies can book a gain when their credit rating sinks has returned to center stage. June 25, 2009
Another Fair Value Rule Tweak Is in the Works
This time, FASB is hoping to clarify the rules on valuing "alternative" investment vehicles. June 22, 2009
KPMG Should Be Tougher on Testing, PCAOB Finds
The Big Four audit firm was cited for not ramping up its tests of some clients' assumptions and internal controls. June 19, 2009
PCAOB Chairman Mark Olson to Retire
Olson will leave the accounting-firm overseer in mid-July after three years of dodging criticism over the PCAOB's first stab at an internal-control rule and working to establish the board as a solid regulator. June 8, 2009