Home » News » Practice (page 19)

Practice

SEC May Delay Accounting Rules

The U.S. Securities and Exchange Commission may hold back on new accounting rules to give companies time to comply, an official said Wednesday. “We're trying to restrain ourselves in the number of new initiatives that we would put in place,” SEC chief accountant Donald T. Nicolaisen said in an interview. A major corporate governance rule requiring companies to report on ...

Read More »

ICAP office-bearers elected

KARACHI: Executive Director Institute of Chartered Accountants of Pakistan (ICAP) Aslam Dossa announced on Sunday the names of the office-bearers of the institute elected for the year 2004-05. Dossa said Zafar Iqbal Subhani has been elected as the new president of the ICAP; Syed Asad Ali Shah has been elected as vice-president (South) while Hidayat Ali was elected as VP ...

Read More »

Survey: Your accountant is your best friend

Accountants are the first choice when it comes to entrepreneurs seeking advice, according to a new survey. And it’s not just to talk finance. The survey, by the accountancy software company Sage, found that more than two thirds of business people speak to their accountants about general business issues, well ahead of banks, solicitors, the government or colleagues. “This survey ...

Read More »

Indian mutual fund industry to see more M&As: KPMG

The Indian mutual fund industry is expected to see more mergers and acquisitions even as funds face the challenge of regaining investor trust, global consultants KPMG said on Wednesday. “Some consolidation has happened over the last few years and more transactions are expected to happen as smaller players get marginalised and global players enter India and large national players look ...

Read More »

ICAI to write to GTB auditors

Even as the Reserve Bank of India's letter alleging “misconduct” by statutory auditors of Global Trust Bank (GTB) does not constitute a formal complaint, the Institute of Chartered Accountants of India (ICAI) intends to write to the auditors concerned seeking their views on the matter. A period of two weeks would be granted to the auditors concerned to reply to ...

Read More »

Court ruling leaves KPMG with £65m bill

Partners at KPMG could face having to make up a £65m deficit in the accountant's pension scheme after a High Court ruling went against the firm yesterday. The court ruled that the occupational pension scheme, which KPMG closed in March 2000, is a defined-benefit scheme, leaving the firm and its current partners liable for any shortfalls. KPMG had argued that ...

Read More »

IAASB issues revised ISA which calls on auditors to plan audits more rigorously

The International Auditing and Assurance Standards Board (IAASB) of the International Federation of Accountants (IFAC) has released a revised International Standard on Auditing (ISA) requiring auditors to be more rigorous in the planning of their audits. The revised ISA 300, Planning an Audit of Financial Statements, builds on the new audit risk standards issued last year and requires the auditor ...

Read More »

IAASB Proposes Enhancements to its Due Process and Working Procedures

As part of its ongoing commitment to develop high quality international standards, the International Auditing and Assurance Standards Board (IAASB) of the International Federation of Accountants (IFAC) has issued an exposure draft (ED) proposing certain enhancements to its due process and working procedures. The ED also proposes to expand the present description of IAASB's due process and working procedures to ...

Read More »

IASB publishes Exposure Draft on Financial Instrument Disclosures

The International Accounting Standards Board (IASB) has published proposals to improve disclosures about financial instruments in financial statements. The proposals are set out in an Exposure Draft of an International Financial Reporting Standard (IFRS) ED 7 Financial Instruments: Disclosures. If adopted, the proposed IFRS would apply to all entities. However, the extent of disclosure required would depend on the extent ...

Read More »

CFOs Are Burning the Midnight Oil, Survey Shows

Chief financial officers are seeking a little relief. In a new survey by Robert Half Management Resources, 36 percent of CFOs said if they could change one thing about their current position, they would work fewer hours. Less meetings and more forgiving deadlines — two other time-oriented answers — were the next most frequently cited responses, at 17 percent and ...

Read More »
X