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Financial Reporting News

It is more critical than ever for CPAs to remain current on financial reporting developments that affect their business or firm. The AICPA brings you relevant news articles, newsletters, a dedicated magazine for the profession, various publications, and links to news from the accounting and auditing standard setters themselves in one convenient location.
Financial Reporting Center News Feed:

Highlighted News Features
	AICPA Supports XBRL Provisions in DATA Act The U.S. House of Representatives on April 25 passed the Digital Accountability and Transparency Act, or DATA Act. The legislation calls for federal agencies and recipients of federal funds to report spending using nonproprietary standards, such as eXtensible Business Reporting Language (XBRL). Read the statement by AICPA President and CEO Barry Melancon, CPA, CGMA, in response to the bill’s passage.

	Final Standards in Convergence Project Expected by Mid-2013 FASB and the International Accounting Standards Board (IASB) expect to issue final, joint standards in their major convergence projects by mid-2013, according to a report to the Financial Stability Board (FSB) Plenary on Accounting Convergence posted Monday on the IASB website. Read more in the Journal of Accountancy.

	AICPA Releases Whitepaper Regarding COSO's Draft of the Updated Internal Control Framework In November 2010, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) announced a project to review and update the 1992 Internal Control - Integrated Framework to increase its relevance in the increasingly complex and global business environment so that organizations worldwide can better design, implement, and assess internal control. The AICPA has released a whitepaper "COSO 2012: Updated, Principles-Based, and More Guidance"

AICPA Releases Whitepaper Regarding COSO's Draft of the Updated Internal Control Framework

In November 2010, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) announced a project to review and update the 1992 Internal Control - Integrated Framework to increase its relevance in the increasingly complex and global business environment so that organizations worldwide can better design, implement, and assess internal control.

The AICPA has released a whitepaper "COSO 2012: Updated, Principles-Based, and More Guidance"

	In the News The AICPA provides news, newsletters and publications on a wide range of topics and areas of interest to CPAs. AICPA News Journal of Accountancy IFRS News Recent newsletters include offerings from the AICPA Technical Issues Committee and the Auditing Standards Board. Access our wide variety of newsletters here.


	Training & Development The AICPA provides guidance and training as a means to help you enhance your knowledge, understanding, and competencies in the areas of accounting and financial reporting, audit and attest services, and nonaudit services. Whether it’s a conference or CPE course you’re looking for, the AICPA offers a variety of learning opportunities. CPE is available in the following formats: self-study, group study (on-site or off-site), and online, and for a variety of key topics and industries.

Training & Development

The AICPA provides guidance and training as a means to help you enhance your knowledge, understanding, and competencies in the areas of accounting and financial reporting, audit and attest services, and nonaudit services. Whether it’s a conference or CPE course you’re looking for, the AICPA offers a variety of learning opportunities. CPE is available in the following formats: self-study, group study (on-site or off-site), and online, and for a variety of key topics and industries.