WeWork IPO Filing Reveals Massive Loss Last Year
The company lost more than $1.6 billion last year on just $1.8 billion in revenue.
PCAOB Imposes $8M Penalty on Deloitte Brazil
Deloitte Touche Tohmatsu Auditores Independentes settles case involving materially false audit reports and an attempted cover-up of violations.
Portugal Telecom Fined Over CP Investments
The company will pay $1.2 million to settle SEC charges that it failed to disclose it had invested more than 1.6 million euros in commercial paper.
Court Clarifies CFO Liability for False Filings
An appeals court "ups the ante" for finance chiefs who certify that SEC filings include no material misstatements or omissions.
SunEdison Again Delays Filing of Annual Report
The renewable energy firm cited "material weaknesses" in its accounting caused primarily by "deficient information technology controls."
Future Audits Must Do More: Survey
“The audit profession as a whole will be looked at to expand outside the domain of the historical financial statements,” says Deloitte & Touche CEO.
FASB Moving Ahead With Nonprofit Update
But chairman Russell Golden faulted the proposed changes for addressing only standards for nonprofits, a move he says could increase accounting complexity.
Why CFOs Need to Care About Accounting
Something is sure to go wrong in the manual process of validating accounts and transaction balances for compliance purposes. Will your systems catch it?
FASB Rids Income Statements of ‘Extraordinary Items’
FASB issues an accounting standards update that eliminates the "Extraordinary Items" classification.
Auditors Can’t Leave Going Concern Evaluation to Management
The PCAOB alerts auditors that they still have a responsibility to independently evaluate whether a company is a going concern.