All Accounting & Auditing articles – Page 36
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ArticleFASB finalizes tweaks to CECL standard
The Financial Accounting Standards Board has issued an update to the upcoming standard on credit losses that addresses negative allowances and expected recoveries.
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ArticleAt rare open meeting, PCAOB says it’s on path to change
A recent PCAOB open meeting reviewed details about shareholder outreach and offered a view into its five-year strategic plan.
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ArticleReport: Investor confidence in audit committees high; more transparency needed
The 2019 Audit Committee Transparency Barometer indicated investor confidence in audit committee effectiveness was strong (81 percent) and had increased 10 percentage points since the first report was issued in 2014.
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ArticleWhat FASB’s recent updates might mean for you
The Financial Accounting Standards Board has issued updates to its standards on hedging and share-based payments and is offering guidance on reference rate reform.
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ArticleFASB finalizes standard delays, including CECL
The Financial Accounting Standards Board has finalized long anticipated delays in effective dates for several accounting standards, including the controversial rule on credit losses.
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ArticleSurvey: Data use, security among top audit risk areas
Research and advisory firm Gartner has released its annual “Audit Hot Spots” report, which reveals the three top risk areas for internal audit teams and chief audit executives in 2020.
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ArticleSEC investigating ProPetro’s financial disclosures
Oilfield services company ProPetro Holding announced the SEC has opened an investigation into its financial disclosures and reporting.
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ArticleInternal control best practices for blockchain technology
Those in accounting who want to understand better the inherent risks, threats and vulnerabilities, and internal control best practices associated with the use of blockchain technology now have a first-of-its-kind framework to follow.
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ArticleSquare discontinues adjusted revenue metric following SEC warning
Square is discontinuing the use of adjusted revenue following receipt of a comment letter from the SEC, which has been eyeing reports for use of measures not in compliance with its updated revenue standard.
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ArticleFRC review of IFRS 16 disclosures highlights weak spots
Companies applying the new standard on lease accounting need to provide more information on its effects, according to a new review by the U.K. Financial Reporting Council, which highlights where it expects companies to provide more comprehensive disclosure in their upcoming annual reports.
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FASB task force adds new member
The Financial Accounting Standards Board announced the appointment of Aleks Zabreyko to the Emerging Issues Task Force (EITF), effective immediately.
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Quanex Building Products names chief accounting officer
Quanex Building Products has announced several key leadership appointments, effective as of Nov. 1, including a new chief accounting officer and a new general counsel.
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Genesco names new chief accounting officer, general counsel
Genesco, a specialty retailer, has announced several executive leadership moves in the last few weeks, including the appointment of a new chief accounting officer and a new general counsel.
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DaVita names chief accounting officer
Healthcare provider DaVita has named John Winstel as chief accounting officer. He will succeed Jim Hilger in this role, who will be stepping down early next year, no later than March 3, 2020.
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ArticleUnder Armour facing SEC, DOJ accountancy probes
Following disclosure of the federal government’s investigation into allegations of sales manipulation dating back to 2017, sports apparel company Under Armour maintains its accounting practices are “appropriate.”
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ArticleIFAC: Strong support for international accounting standards
A first-of-its-kind report from the International Federation of Accountants shows “strong and sustained support” for both the adoption and implementation of international standards.
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Resourcee-Book: Light at the end of the tunnel for lease accounting?
New deadlines for the lease accounting standard have given companies more time to overcome implementation and adoption challenges.
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ArticleFRC reveals key trends in U.K. accountancy profession
A new report from the U.K.’s Financial Reporting Council says the Big Four increased their combined “total fee income” by 4.7 percent—even amid a year fraught with accounting scandal.
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ArticlePCAOB sanctions Deloitte, BDO affiliates
The PCAOB, recently under fire for its lack of enforcement, has imposed sanctions on Deloitte Korea and BDO Mexico for altering audit documentation in anticipation of inspections.
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ArticleMattel ousts CFO after accounting probe reveals weaknesses
Following an investigation spurred by a whistleblower letter, Mattel announced it has uncovered material weaknesses in its internal controls over financial reporting and is now working to remediate the issues.