Accounting Profession News
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IFAC Releases Guidance to Assist Public Sector Entities with Transition from Cash Basis to Accrual
The International Federation of Accountants' (IFAC's) Public Sector Committee (PSC) has recently released the following two documents: Study 14 (2nd…
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IFAC Invites Comments on Documents Addressing Policies of Governments From Non-Exchange Transactions
The International Federation of Accountant's (IFAC) Public Sector Committee (PSC) has issued Invitations to Comment (ITCs) on two critical financial…
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IAASB Issues a New Framework and Standard for Assurance Engagements
Environmental, social and sustainability reports, information systems, internal control, corporate governance processes and compliance with grant conditions, contracts and regulations…
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IASB issues draft interpretations to clarify scope of leasing standard and on decommissioning funds
The International Financial Reporting Interpretations Committee (IFRIC) has today released two Draft Interpretations—D3 Determining whether an Arrangement contains a Lease…
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IASB publishes porposals on exploration and evaluation assets
The International Accounting Standards Board (IASB) has taken the first step towards improving accounting practices in the extractive industries—the oil…
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KPMG linked to Worldcom tax scam
A court examiner accused accounting firm KPMG of helping WorldCom avoid paying hundreds of millions of dollars in state taxes.…
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Auditor Concern Arises at Tyco Trial
Lawyers for the former chief executive of Tyco International, L. Dennis Kozlowski, asked a New York judge to keep prosecutors…
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Badruddin Fakhri elected as SAFA President for 2004
Badruddin Fakhri, Member National Council of ICMAP and Director Finance of Pioneer Cement Ltd. has been elected as President of…
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Accounting giant KPMG says 'horrified' by Parmalat
Accounting giant KPMG said on Monday it was looking in horror at the book-keeping crisis at Italian food group Parmalat…
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KPMG shows it's still beautiful to be big in accountancy field
The latest robust operating profits from the UK arm of accountancy giant KPMG show that there is still strong money…
