All Accounting & Auditing articles – Page 50
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Blog
FASB plans January roundtable to address CECL tension
Amid growing tension over a pending new standard on recognizing credit losses, the Financial Accounting Standards Board says it will convene a roundtable in January.
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Blog
Banking regulators approve CECL relief measure
Banking regulators issued some relief for banks worried about the effects of adopting CECL, but bankers are still concerned it won’t go far enough.
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ArticleAuditors finalize hot topic lists for 2018 year-end
As calendar-year companies approach their year-end close, audit firms are prepping teams for the big issues they need to scrutinize closely in their 2018 year-end audits.
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Article
CMA looks at tackling Big Four’s stranglehold of U.K. audit market
The audit market is facing serious scrutiny from the U.K. Competition and Markets Authority, which hopes to carve out external audit from consulting, impose a “joint audit” regime, and increase audit committee chair accountability.
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Blog
PCAOB names Megan Zietsman chief auditor
The Public Company Accounting Oversight Board announced that it has named Megan Zietsman chief auditor and director of professional standards.
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GE audit committee considers replacing KPMG as auditor
GE’s audit committee has initiated a tender process to consider replacing KPMG as its external auditor.
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Blog
PCAOB plans continued focus on review controls in 2019
The PCAOB saw some improvement in the audit of management review controls during its 2018 inspections, but it’s still an area of focus into 2019.
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Blog
FASB chair dismisses any delay of lease rules
Amid technology challenges and minor changes to the pending new lease accounting rules, FASB is standing firm on the Jan. 1 effective date.
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New GAAP rules drive audit fee increases, poll says
New accounting standards and M&A activity are driving modest increases in audit fees for public companies, according to a new FERF survey.
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Revlon chief accounting officer tenders his resignation
Wendel Kralovich, chief accounting officer and controller for cosmetics company Revlon, has tendered his resignation to pursue a new career opportunity.
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CAMs may drive more management disclosure, dry runs reveal
A pending requirement for auditors to disclose critical audit matters in their reports may compel management to take a closer look at their own disclosures.
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Blog
House plans hearing on CECL’s effect on economy, banks
The SEC may be hands-off with respect to CECL, but the House Financial Services Committee is exploring the expected effect of the accounting change on the economy.
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Article
SAB 118 to ASC 740: Companies shift tax reporting
Shifting from one uncertain position to another, companies are facing a subtle but important change in how to explain tax reform to investors.
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Blog
SEC, PCAOB spill frustration over China stonewall
U.S. regulators are contemplating what next steps they can take to rattle some greater cooperation out of overseas regulators, especially in China.
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Blog
Two big holdouts still follow 1992 COSO framework
A handful of holdouts are still disclosing they comply with SOX internal control reporting requirements by following a defunct COSO framework.
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Blog
Groupon appoints chief accounting officer
Groupon, an e-commerce marketplace, has appointed Melissa Thomas as chief accounting officer and treasurer, the company announced in a securities filing.
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Blog
CACI International appoints corporate controller
Information technology company CACI International has appointed Christopher Voci as senior vice president and corporate controller. As corporate controller, he will be responsible for all aspects of accounting, financial reporting, and Sarbanes-Oxley compliance.
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Blog
PCAOB plans new focus on quality control in inspections
The PCAOB plans to take a much closer look at how firms manage audit quality in 2019, retooling the inspections process to focus on quality control systems.
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Blog
IIA reviews ‘three lines’ model, plans new paper
The Institute of Internal Auditors is performing a new review of the “three lines of defense” model it has long embraced as a basis for sound risk management.
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Blog
Metlife appoints chief accounting officer
Financial services company MetLife has named Tamara Schock as chief accounting officer, effective March 4, 2019. Schock will succeed Bill O’Donnell, who has been named MetLife’s U.S. chief financial officer.