All Accounting & Auditing articles – Page 52
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Blog
SEC wants more Brexit disclosure, Clayton says
As turmoil over the British exit from the European Union deepens, the Securities and Exchange Commission is looking for public companies to start disclosing more about how they’ll be affected.
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SEC, FASB members offer no hopes for CECL delay
Amid calls for a delay or changes to CECL, the SEC's chief accountant is defending the rulemaking process under FASB and its independence.
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Despite calls to delay CECL, FASB plans amendments
FASB has decided to follow the advice of an advisory group and make some changes to CECL to address implementation issues.
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FASB finalizes rules on collaborative arrangements
The FASB continues to field and answer one-off questions on revenue recognition, with the most recent installments on collaborative arrangements and franchise fees.
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Even with new technology, auditors face same demands
Whatever changes technology might bring to financial reporting, auditors still face the same auditing standards and expectations from regulators.
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Third ex-KPMG partner pleads guilty in inspection leak
A third ex-KPMG partner has consented to a guilty plea in connection with charges of fraud and conspiracy in regulatory inspections.
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PCAOB censures Deloitte Mexico partners in cross-border audits
The PCAOB has disciplined three partners at Deloitte Mexico, citing failures in cross-border audits that affected U.S. opinions.
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SEC expands probe at GE after $22B impairment charge
The SEC has expanded its investigation into accounting issues at GE and is now looking into a $22 billion impairment charge, the company reported.
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BlogStudy links accounting expertise to misstatement risk
Accounting expertise coupled with high levels of executive compensation can increase the risk of misstatements, according to a new academic study.
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ArticleBanks sound alarm on CECL, calling for delay, study
When the economy starts to sour, CECL will push it faster and further in that direction, say banks calling for a delay and study of the new loan loss rules.
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FASB edits hedging standard, more changes to come
FASB has finalized a change to the new hedge accounting standard to expand the list of permissible U.S. benchmark interest rates.
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Changes to PCAOB inspections will begin in 2019
A new approach to audit inspections will begin in 2019, with changes intended to focus on prevention and deterrence, new PCAOB chairman says.
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Big changes in store for goodwill testing, report says
Big changes in tax and accounting rules should produce big changes in goodwill impairment testing this year, according to a new report from Mercer.
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BioScrip appoints chief accounting officer
BioScrip, the largest independent national provider of infusion and home care management solutions, has appointed John McMahon as vice president, controller and chief accounting officer.
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Article
Add hedging to year-end accounting change to-do list
The accounting may be simpler under a new standard on hedging, but that doesn’t mean the transition is any simpler than for any other accounting change.
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Banks appeal to Treasury to intervene on CECL
Banks are asking Treasury to intervene on CECL and delay it, worried implementation will threaten financial stability in a future recession.
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Ex-KPMG leader pleads guilty in inspection leak case
A former KPMG leader has pled guilty to four counts of fraud and conspiracy in connection with an operation to subvert the regulatory inspection process.
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SEC warns companies to control phishing losses
The SEC has put companies on notice that their internal controls need to consider the risk of cyber-attack, especially e-mail “phishing” scams.
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SEC, PCAOB discipline ex-auditors at BDO, Deloitte
Two new enforcement actions give audit committees some textbook reminders to keep tabs on auditors regarding their compliance with professional standards.
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Article
Companies launch year-end push to new lease rules
The Q4 dash to new lease accounting is on, and it’s looking like some companies will not flip the switch to new systems by the Jan. 1 effective date.