• SEC filed more than 800 enforcement actions in fiscal 2015

    By Neil Amato October 22, 2015 The SEC filed more than 800 enforcement actions and obtained orders totaling about $4.2 billion in disgorgement and penalties in the 2015 fiscal year, which ended Sept. 30. There were 807 actions filed during the fiscal year, the commission said Thursday. Of them, a record 507 were independent actions

  • Internal Auditors Earning Higher Salaries for Advanced Training

    Internal auditors with advanced levels of education, training and certifications are seeing bigger salaries, according to a new survey. Richard Chambers The survey, from the Audit Executive Center at the Institute of Internal Auditors, found a strong correlation between higher internal audit salaries and experience, education and professional certifications. Overall, salary increases were modest, albeit

  • Teen Who Hacked CIA Director’s Email Tells How He Did It

    Teen Who Hacked CIA Director’s Email Tells How He Did It

    A hacker who claims to have broken into the AOL account of CIA Director John Brennan says he obtained access by posing as a Verizon worker to trick another employee into revealing the spy chief’s personal information. Using information like the four digits of Brennan’s bank card, which Verizon easily relinquished, the hacker and his

  • CPA exam evolving to reflect shift in skills requirements

    By Ken Tysiac October 19, 2015 The tasks performed by newly licensed CPAs have changed in recent years. The Uniform CPA Examination is evolving to reflect those changes. “Tasks that an entry-level CPA may have done in the past are now either largely mechanized through electronic mediums” or are being handled by non-CPAs, said Rick

  • Positioning Cloud Accounting To Clients

    September 15, 2015 While you may be sold on the dream of cloud accounting, your clients might need some more convincing. Use this tips & tricks guide for educating business owners on the benefits of cloud accounting. What is the Cloud? Your clients may ask you, “So what is the cloud?” A great example to

  • PCAOB urges focus on Risk Assessment Standards

    By Ken Tysiac October 15, 2015   he PCAOB is urging audit firms to review their systems and procedures to promote compliance with the board’s Risk Assessment Standards. The Risk Assessment Standards—Auditing Standards (AS) No. 8 through No. 15—were adopted in 2010. The standards address the auditor’s assessment of and response to risk of material

  • Global Accounting Organization Membership Grows to 2.8 Million

    New York (October 13, 2015) By Michael Cohn The number of accountants who belong to professional accounting organizations that are members of the International Federation of Accountants grew 16 percent from 2.4 million to 2.8 million between 2009 and 2013.   Fayez Choudhury The growth in membership of professional accountancy organizations, or PAOs, far exceeded

  • Key areas of risk in the 2015 audit cycle

    By Ken Tysiac October 12, 2015 Professional skepticism and internal control over financial reporting are two key areas for auditors that have attracted the focus of regulators in recent years. These areas are among those addressed in one of two risk alerts published Monday by the Center for Audit Quality (CAQ), which is affiliated with

  • Dos nuevos casos de operaciones ilegales con Bitcoin y otras criptomonedas

    2 octubre, 2015 Seguridad por Ariana Hernández Para nadie es un secreto que así como Bitcoin ha sido utilizada para buenos fines, también ha sido empleada para llevar a cabo operaciones ilegales como estafas y lavado de dinero. Una tecnología que fue pensada para ofrecerle a sus usuarios la oportunidad de manejar su dinero de una

  • Senators Probe Volkswagen Tax Credits

    Washington, D.C. (October 7, 2015) By Michael Cohn The leaders of the Senate Finance Committee are asking Volkswagen about the federal tax credits given to buyers of its vehicles for owning energy-efficient cars, amid revelations that the automaker programmed its devices to cheat emissions tests.   Orrin Hatch Senate Finance Committee chairman Orrin Hatch, R-Utah,

  • NIIF para las PYMES- Actualización

    The IFRS for SMEs Update is a staff update about news relating to the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs). The Update is published on a regular basis, with news about adoptions, resources, and implementation guidance. Past editions are accessible below. To receive the IFRS for SMEs Update as

  • Tax Fraud Blotter: A Litany of Excuses

    Tax Fraud Blotter: A Litany of Excuses

    October 3, 2015 By Jeff Stimpson A roundup of our favorite recent tax fraud cases. Peabody, Mass.: Preparer Barry Ginsberg, 63, has been sentenced to 21 months in prison and six months of home confinement and been ordered to pay restitution after pleading guilty to multiple counts of mail and wire fraud, preparing false returns

  • PCAOB Imposes Sanctions Against Auditor who Admitted Violating Independence Requirements and PCAOB Standards

    Washington, Oct. 2, 2015 The Public Company Accounting Oversight Board today announced a settled disciplinary order against (PDF) David A. Aronson, CPA, and his firm, David A. Aronson, CPA, P.A., in the PCAOB’s first order in which a settling respondent admitted to a disciplinary order’s facts, findings, and violations. In today’s order, the Board censured both

  • FASB Proposes Tweaks to Revenue Recognition Standard

    Norwalk, Conn. (September 30, 2015) By Michael Cohn The Financial Accounting Standards Board has issued a proposed accounting standards update to improve the guidance on collectibility, noncash consideration, and completed contracts at transition in the new revenue recognition standard. The amendments in the proposed update would also provide a practical expedient for contract modifications at

  • Bank to Pay $1.5 Mn for Accounting Fraud

    September 29, 2015 By Daniel Hood The Securities and Exchange Commission announced that Trinity National Corp. and its wholly owned subsidiary, Los Alamos Bank, have agreed to pay $1.5 million to settle charges of accounting fraud. In its quarterly and annual filings with the SEC for 2010, 2011 and the first two quarters of 2012,

  • FASB moves to simplify business combination accounting

    By Ken Tysiac September 25, 2015 FASB issued new guidance Friday designed to simplify accounting for adjustments made to provisional amounts recognized in a business combination. The requirement to retrospectively account for those adjustments is eliminated by the amendments in Accounting Standards Update No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments.

  • iIFRS -Nuevas traducciones al francés y español disponibles en línea

    24 September 2015 The IFRS Foundation is pleased to announce the publication of the following translations: French translation of the Exposure Draft Clarifications to IFRS 15, published by the IASB in English in July 2015. Comments to be received by 28 October 2015. This document can be accessed via the ‘Comment on a proposal’ webpage.


    Norwalk, CT, September 24, 2015—The Financial Accounting Standards Board (FASB) today issued for public comment two exposure drafts related to its disclosure framework project. Stakeholders are encouraged to review and comment on both exposure drafts by December 8, 2015. The objective of the Disclosure Framework project is to improve the effectiveness of disclosures in notes

  • IASB Proposes Temporary Fix for Insurance Standard Conflict

    London (September 23, 2015) By Daniel Hood The International Accounting Standards Board proposed temporary measures to address worries over conflicts between a standard that has been issued, and another that isn’t due for a year. The concerns center around challenges that might arise in the implementation of IFRS 9, Financial Instruments, which was issued last

  • Auditor Changes in 2014 Matched 2013

    Sutton, Mass. (September 22, 2015) By Michael Cohn Approximately 1,100 public companies changed their audit firms in 2014, a number approximately the same as in 2013, although one company managed to change its audit firm three times last year while another changed its audit firm for the first time since 1890. The research firm Audit

  • PwC Outlines Differences Between U.S. GAAP and IFRS

    By Michael Cohn September 21, 2015 PricewaterhouseCoopers has released a useful report demonstrating the many differences that remain between U.S. GAAP and International Financial Reporting Standards. Despite more than a decade of work on converging the two sets of accounting standards, they are still far apart in many respects. When the Securities and Exchange Commission’s

  • IASB Chairman speech: impairment requirement will result in fundamental change

    15 September 2015 Speaking today at a conference in London, Hans Hoogervorst, Chairman of the International Accounting Standards Board (IASB), said the forward-looking expected loss model in the new financial instruments Standard should provide investors with better insight on loan loss risks. The conference is the third annual event for financial services institutions organised jointly

  • Washington busca al funcionario mejor pagado de EEUU: 670.000 dólares al año

    Washington busca al funcionario mejor pagado de EEUU: 670.000 dólares al año

    Se encargará de dirigir la entidad que vigila a las auditoras   La carrera para cubrir uno de los puestos mejor pagados de la administración estadounidense ha comenzado en la capital de Estados Unidos, Washington D.C. Al menos tres candidatos están ya situados en la línea de salida, cuya meta es la dirección del Public

  • IASB Formalizes 1-Year Deferral of Revenue Recognition Standard

    London (September 11, 2015) By Michael Cohn The International Accounting Standards has issued an amendment to its revenue recognition standard, IFRS 15 Revenue from Contracts with Customers, formalizing the deferral of the effective date by one year until 2018. The IASB and the U.S. Financial Accounting Standards Board issued the long-awaited converged revenue recognition standard

  • ASB confirms deferral of Effective Date by issuing formal amendment to the revenue Standard

    11 September 2015 The International Accounting Standards Board (IASB) today issued an amendment to the revenue Standard, IFRS 15 Revenue from Contracts with Customers, formalising the deferral of the Effective Date by one year to 2018. The publication of the amendment, Effective Date of IFRS 15, follows from the IASB’s decision in July to defer

  • SEC Mulls Changes in Audit Committee Disclosures

    By Michael Cohn September 9, 2015 The Securities and Exchange Commission will be poring over the comments it received on its recent proposal to toughen audit committee disclosures after the comment deadline expired Tuesday. Back in July, the SEC issued a 55-page concept release proposing a set of revisions in audit committee disclosure requirements with

  • Accountants See Regulations Stifling Growth and Innovation

    New York (September 8, 2015) By Michael Cohn Two-thirds of accounting, finance and business professionals believe regulation is having a significant or very significant impact on their organizations’ opportunities to grow and innovate, according to a new survey by the International Federation of Accountants. Fayez Choudhury Meanwhile, 79 percent of the survey respondents reported that

  • Art of Accounting: Write-ups and Concentration

    September 7, 2015 By Edward Mendlowitz Much of an accountant’s work is done at the client’s premises. However, whenever we are there, it is an intrusion on their routine. We need to remember we are guests and should remain “out of sight.” Well, let me tell you what happened early on in my career. I

  • FDIC Publication Focuses on the Critical Role of Corporate Governance and Strategic Planning in Responding to Earnings Challenges

    FOR IMMEDIATE RELEASE August 24, 2015 Media Contact: Greg Hernandez (202) 898-6984 Email: ghernandez@fdic.gov The Federal Deposit Insurance Corporation (FDIC) today released the summer 2015 issue of Supervisory Insights. The lead article, “Strategic Planning in an Evolving Earnings Environment,” highlights the critical role of corporate governance and strategic planning in navigating a challenging operating environment.

  • Asociación de Auditores Externos – AE CHILE- realiza Asamblea Anual 2015

    El 25 de agosto pasado se realizó la Asamblea Anual de la Asociación de Auditores Externos de Chile A.G. (AE Chile) con una alta participación del personal directivo de las principalesFirmas Auditoras que operan en nuestro país. En la ocasión se analizó la creciente importancia de esta actividad profesional en un entorno de negocios más

  • Expense Report Fraud Will Cost Companies $1 Billion

    Certify, a company that specializes in expense management software, wants to draw attention to the problem of expense report fraud. It cites research from J.P. Morgan that U.S. companies will spend $186 billion on T&E expenses in 2015, $1 billion of which will be lost to fraud. The median loss for organizations last year due

  • Accounting Salaries Expected to Rise Next Year

    Menlo Park, Calif. (September 2, 2015) By Michael Cohn Average starting salaries in accounting and finance are expected to rise 4.7 percent next year, according to a new salary guide from the staffing company Robert Half. The 2016 Salary Guide forecasts steady demand for professionals such as business systems analysts, staff accountants and financial analysts.

  • FASB Proposes GAAP Taxonomy Changes for 2016

    Norwalk, Conn. (September 1, 2015) By Michael Cohn The Financial Accounting Standards Board released the proposed 2016 GAAP Financial Reporting Taxonomy for public review and comment Tuesday. The proposed 2016 taxonomy contains updates for accounting standards and other recommended improvements to the official taxonomy, which is used by public issuers registered with the Securities and

  • AEChile y Control Interno asociado al Reporte Financiero

      Con la asistencia de la totalidad de los directores de las firmas auditoras que existen en el mercado y que pertenecen a AEChile (Asociación de Auditores Externos AG), el 20 de mayo del 2015 se efectuó un encuentro con sus Asociados para analizar el Tema de Control Interno asociado al Reporte Financiero. Para dicha

  • IFRS 9

        Nota del Editor de AECHILE     Introducción   Dado el interés en el tema, publicamos esta documentación; uno de los aspectos importantes es la adopción de pérdida esperada y no incurrida   Se acompañan dos documentos: >> IFRS 9 Financial Instruments  Descargar (adobe acrobat pdf 130 KB) >> KPMG First Impresssions Descargar (adobe

  • Auditores Externos, Contadores y SBIF sostienen Encuentro sobre Educación Financiera para Pymes

    Como apoyo al programa que lleva a cabo la Superintendencia de Bancos e Instituciones Financieras (SBIF), la Asociación de Auditores Externos A.G. y el Colegio de Contadores de Chile –en conjunto con el Regulador-, realizaron el Encuentro sobre Educación Financiera para Pymes, con el objeto de analizar la distribución del crédito en Chile, normas IFRS


    AL 31 DICIEMBRE 2014  entidades fiscalizadas por  la SVS . Circular de Auditoría N° 29  del Colegio de Contadores de Chile A.G Con fecha 20 de noviembre de 2014, el Consejo Nacional del Colegio de Contadores de Chile A.G aprobó  la Circular de Auditoría Nº 29, con el objeto de referirse al informe del auditor

  • Encuentro Educación Financiera para Pymes

    Encuentro Educación Financiera para Pymes JUEVES 11 Diciembre 08:30 horas Aula Magna Consejo Nacional del Colegio de Contadores de Chile   Raúl Muñoz Valle, Presidente Nacional del Colegio de Contadores de Chile y José Monsalve Assef, Presidente de la Asociación de Auditores Externos, los invitan a participar en un encuentro sobre “Educación Financiera para Pymes”.

  • Moore Stephens se incorpora a Asociación de Auditores Externos de Chile A.G.

    Con fecha 15 de septiembre de 2014, el directorio de AEChile aprobó por unanimidad la incorporación de Moore Stephens Auditores Consultores Limitada como miembro de la Asociación de Auditores Externos de Chile A.G. Moore Stephens firma miembro de Moore Stephens – International, será representada ante la entidad gremial por el socio de la compañía, Sr


    Introducción Se acompaña presentación de la señora Soledad Recabarren, Socia de la Firma EY,efectuada en la Asamblea Anual de esta Asociación, ayer 26 de agosto del 2014.  Cabe hacer presente que también intervinieron en esta exposición, los Socios Tributarios señores Alvaro  Mecklenburg de Deloitte, Francisco Selamé de PwC y Francisco Lyon  de KPMG, quienes  hace

  • Borrador en consulta pública- Reglamento sobre manifestación del consentimiento expreso del consumidor en contratos de adhesión de productos y servicios financieros



    Se acompañan las presentaciones en powerpoint hechas el 11 de junio del 2014 en la Comisión de Hacienda del Senado de Chile por las siguientes Firmas de Auditoría Externa: – Deloitte ( Sres .Pablo Vera y Alvaro Mecklenburg ) – PwC ( Sres Francisco Selamé y Miguel Rencoret ) – EY ( Sres Pablo Greiber

  • Comunicado de Obras Públicas a contratistas y consultores por normativas bajo IFRS

  • Reforma Europea de la Auditoría

      REFORMA EUROPEA DE LA AUDITORÍA: EL CAMINO DE LA CONFIANZA Por Patrick de Cambourg, Presidente del Consejo de Supervisión de Mazars, y Philippe Castagnac, CEO del Grupo Mazars La reforma de auditoría adoptada por la Unión Europea establece, por fin, las bases de un verdadero mercado único, desconcentrado y basado en valores clave: reforzando

  • Mazars se incorpora a Asociación de Auditores Externos de Chile A.G.

    Con fecha 15 de enero de 2014, el directorio de AEChile aprobó por unanimidad la incorporación de Mazars Auditores Consultores Limitada como miembro de la Asociación de Auditores Externos de Chile A.G. Mazars Chile –filial de la auditora internacional del mismo nombre y con presencia en 72 países- será representada ante la entidad gremial- por

  • Cuenta Pública SVS – 2012

    Se acompaña el documento con la Cuenta Pública del año 2012 del Sr Superintendente de Valores y Seguros Don Fernando Coloma

  • Nuevo calendario FACTA

    El Servicio de Impuestos de EEUU ha anunciado el 26 de julio recién pasado un calendario revisado para la aplicación de FATCA, documento que acompañamos y que está en inglés.

  • Noticia de EEUU Hacienda retrasa FATCA

    El Departamento del Tesoro dijo el viernes que, debido al enorme interés de los países de todo el mundo, se extenderá a los seis meses del inicio de la cuenta sobre los requisitos de diligencia debida de la Ley de Cumplimiento Tributario de Cuentas Extranjeras retención y, o FATCA, quedando para el 1 de julio de 2014 disponiéndose de más tiempo para completar los acuerdos con jurisdicciones extranjeras.

  • Se aprueba proyecto de ley que prohibe al Regulador exigir rotación obligatoria

    La Cámara de Representantes de Estados Unidos aprobó el 8 de julio pasado por 321 votos contra 62 un proyecto de ley que prohibe al Regulador exigir una rotación obligatoria de las Firmas de Auditoría Externa. Ahora deberá ser visto por el Senado y finalmente firmado por el Presidente de EEUU.

    Adicionalmente ,recordemos que el Regulador PCAOB ha estado analizando el tema con distintos foros en EEUU, las noticias dicen que de 650 comentarios recibidos

  • FACTA, Ley de Cumplimiento Tributario de Cuentas Extranjeras

    FATCA es sinónimo de “Ley de Cumplimiento Tributario de Cuentas Extranjeras” la que entró en vigor en 2010, EE.UU. Ley, por la cual la declaración de impuestos EE.UU. de las instituciones financieras del exterior se ha reforzado considerablemente y que quiere conocer la situación de contribuyentes de EEUU con fondos en el exterior