The recent “accounting” scandals reinforced the importance of standards in accounting and business. This area of CreditPulse will monitor select changes and modifications of accounting standards and other standards that effect business by governing bodies such as the Financial Accounting Standards Board (FASB) and the American Institute of Certified Public Accountants (AICPA). Also, we will monitor enforcement of various rules and standards by both the Securities and Exchange Commission (SEC) and the Federal Reserve Board. Financial Disclosure Problems Strike Again
Feb. 10, 2010
Bank of America management, with likely involvement from the U.S. Treasury, ignored the advice of its company treasurer, external auditor and later its own general counsel by not disclosing the pre-merger losses at Merrill Lynch, according to a complaint filed last week by the New York Atty General's office.
More and more of the details are emerging about what really happened during the tense moments back in Nov. and Dec. of 2008 at the height of the credit crisis when Bank of America
The integration of European capital markets and the rapid growth of China's economy and capital markets have increased the pressure to merge the various accounting standards of the world into one cohesive accounting standard -- a movement known in the accounting world as convergence.
Approximately 1,100 corporate accounting and finance professionals from around the country, and some from around the world, gathered in Tampa, Florida two weeks ago for the Institute of Management Accountants (IMA) 89th Annual Conference & Exhibition.
