A global panel of experts created by the International Accounting Standards Board (IASB) and the U.S. Financial Accounting Standards Board (FASB) has made a bunch of recommendations to avert the next financial crisis. The courses of action range from asking companies to take more responsibility for "effective price verification" when valuing financial instruments, to developing robust disclosures around structured financial products, to developing a permanent funding mechanism for the IASB as a way to protect its independence from "undue influence." What could these mean for Asia's CFOs? Read about it here. Download the full report here.
Public and private companies in the U.S., as well as non-profits, saw an overall increase in their audit fees in 2013 over the previous year, with public company fees being particularly impacted by recent Public Company Accounting Oversight Board (PCAOB) inspections, according to the Audit Fee Survey of the Financial Executives Research Foundation (FERF).