All Accounting & Auditing articles – Page 42
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Audit committees advised: be cautious if PCAOB calls
The PCAOB wants to engage more directly with audit committees, but they may get a cool response from some audit committee members wary of the risks.
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Accounting class action filing still high, report says
Accounting class action filings in 2018 remained “uncharacteristically high,” according to the latest analysis by Cornerstone Research.
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AICPA revenue recognition guide hits audit, sector issues
Still looking for some help on revenue recognition? The AICPA has published an audit and accounting guide meant to work through industry-specific issues.
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Q4 control disclosures inched upward, FERF says
Nearly one-fourth of filings with the SEC in the fourth quarter contained admissions of material weaknesses in internal control over financial reporting.
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FASB preps proposal to simplify income tax accounting
FASB is preparing a proposal to amend accounting standards in a way that is intended to ease the accounting for income taxes.
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Analysts offer tips on reading financials with leases added
Analysts are advising investors to buckle up in preparation for first-quarter results that will, for the first time, include leases on the balance sheet.
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Special report: Auditing your audit
Under rising pressure to be more transparent about how they oversee auditors, proactive audit committees are upping their game for evaluating all aspects of their audit
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Roughly half of S&P 500 disclose expected CECL impact
A little more than half of the S&P 500 have disclosed something about how they expect to be affected by CECL reporting when it begins next year.
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Finishing strong in the race toward lease accounting
As many public companies near the finish line in the race to get leases onto corporate balance sheets, many others are still straggling behind. This e-Book will help you toward that final sprint.
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Roadrunner executives charged with accounting fraud
The SEC and the Department of Justice brought civil and criminal charges against three former executives of transportation company Roadrunner Transportation Systems for their alleged role in a complex securities and accounting fraud scheme that resulted in a loss of more than $245 million in shareholder value.
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Alvarez & Marsal launches web tool for leases
Global professional services firm Alvarez & Marsal announced the launch of LeaseSCRE, a web-based tool that uses machine learning to estimate an incremental borrowing rate (IBR) curve.
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CAMs are coming, and companies should warn investors
Audit reports are about to get a lot longer, and companies would be wise to give financial statement users some advance warning to head off any knee-jerk reactions.
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FASB rejects bank request to ease CECL effects on income
The Financial Accounting Standards Board has rejected a proposal by some banks to revise the pending credit losses standard, due to take effect Jan. 1, 2020.
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Hertz sues former executives to recoup compensation
Car rental company Hertz is suing former executives to recoup losses related to its 2015 restatement to correct aggressive accounting.
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Lexington Realty Trust appoints chief risk officer
Lexington Realty Trust announced key changes to its leadership team, including the appointment of a new chief risk officer and a new chief accounting officer.
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Reliant Bancorp names chief accounting officer, controller
Reliant Bancorp named David Kowalski as chief accounting officer and controller.
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Beacon Roofing Supply names chief accounting officer
Beacon Roofing Supply appointed Thomas Schmitz as chief accounting officer, effective April 15.
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Half of companies plan post-adoption work on leases: poll
About half of public companies expect to spend as much time—or even more—on lease accounting adoption after the first quarter reporting under the new rules.
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PwC shows uptick in audit deficiencies in latest report
Audit regulators issued their 2017 inspection report on PwC, showing an uptick in the percentage of audits with deficiencies.
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Grant Thornton earns record low deficiency rate
Grant Thornton earned a record low deficiency rate on its newest audit inspection report, the first major firm to deliver a rate in the teens since 2009.