All Accounting & Auditing articles – Page 44
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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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ArticleCAMs 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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ArticleFASB 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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ArticleHalf 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.
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ArticleCompanies walk judgment tightrope as Brexit doubts peak
Preparers are facing some brutal accounting judgments as they approach the end of a reporting period straddling key dates in a chaotic Brexit.
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ArticleFASB revises proposed changes to income tax disclosure
FASB has revised its proposed changes on tax disclosures to respond to feedback to an earlier proposal and to reflect changes under tax reform.
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Borden Dairy appoints chief accounting officer
Borden, a U.S. dairy processor and distributor, has named Candace Palmarozzi as vice president corporate controller and chief accounting officer, effective immediately.
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Welbilt appoints chief accounting officer
Welbilt, a global supplier of commercial food-service equipment, has promoted Jamie Palm to chief accounting officer, in addition to her current role as vice president corporate controller.
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ArticleClarity, comparability still to come under new revenue rules
As companies wrap up their first year under the new revenue recognition standard, evidence of the learning curve and challenges with comparability are abundant.
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PwC reduces damages in Colonial Bank failure
Appealing a court ruling, PwC reached a $335 million settlement with the FDIC over professional negligence claims in the failure of Colonial Bank.
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ArticleCharts: Exclusive analysis of audit inspection reports
See how the big accounting firms compare in terms of audit deficiency rates for 2009 through 2016 and internal control deficiencies for 2016 based on PCAOB inspection report results.
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Despite decades of scrutiny, auditor independence remains a challenge
Even with clear-cut expectations, audit firms still find new and unique ways to run afoul of the SEC’s independence rules. Among the culprits: the money-making potential of non-audit services.
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ArticleQ&A: Audit committee outlook from a committee chair and former EY auditor
Jan Babiak, a current audit committee chairman formerly of EY, offers her perspective on the roles ans responsibilities of the audit committee.
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ArticleU.K. narrow-minded to think breaking up Big Four a good idea
Big Four accounting expert James Peterson discusses ways in which the United Kingdom may dismantle the Big Four, the possible consequences of each of the proposals, and which he thinks is the better solution.