The auditing profession is facing an economic dilemma: Audits of financial statements in accordance with GAAP are being dropped by businesses unless they are required by law, such as for companies ...

At close: February 27 at 9:21:09 PM GMT ...

The National Association of State Boards of Accountancy and the American Institute of CPAs have put aside their differences and pledged their cooperation on financial reporting frameworks for private ...

Main Street businesses now have a new option for non-GAAP financial reporting. The AICPA Financial Reporting Framework for Small- and Medium-Sized Entities (FRF for SMEs) was created to answer demands ...

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For small and medium-size businesses with low credit risk, an AICPA reporting framework would be nearly as effective as GAAP in producing financial statements that would give lenders confidence to ...