American officials are now pressing China to step up its enforcement of securities laws and to improve accounting standards.
The report calls for the General Services Administration and Office of Management and Budget, both of which help administer the credit-card program, to improve accounting, particularly for electronic equipment that could be easily stolen.
In a recent speech, he cited numerous occasions on which the "big five" had frustrated attempts to improve accounting standards, including beefing up the Financial Accounting Standards Board FASBB).
Gerard Cassidy, an analyst with RBC Capital Markets, said PNC's market problems may have been compounded by a July agreement with federal regulators to improve accounting and reduce its high-risk assets.
The urgent need to improve accounting standards was re-emphasized last week, when Royal Ahold, one of the world's biggest supermarket operators and owner of chains like Stop & Shop and Bi-Lo, said it had overstated earnings by $500 million over the last two years.
Frank DeRosa, a spokesman for the diocese, acknowledged yesterday that the parish might have had inadequate financial controls, but that the diocese had been working to improve accounting procedures at its many churches.
Britain's approach will spread: in March, FASB said it would start examining ways to improve accounting for employee pension plans, with the aim of publishing a new standard on pension accounting in America next year.Revenue recognition.
The challenge is how to improve accounting given the lack of available granular data on which companies can base their business decisions about water scarcity, water surpluses and water management opportunities.
Thomson: Do franchise owners approach you about new technologies that can improve accounting and finance at your organization?
The company had been building a risk-evaluation platform that would improve account management by identifying fraudulent registrations, compromised logins, and risky transactions.
