All Accounting & Auditing articles – Page 53
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Blog
Early adoption fizzles for new hedge accounting rules
Despite assumptions that companies would flock to simpler accounting, most are holding back in adopting new hedge rules.
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Internal audit lags business in RPA adoption, poll says
Business operations may be adopting robotic process automation technology at a faster clip than internal auditors, a new poll suggests.
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Only three directors across Big 4 boards are independent
KPMG has appointed an independent member to its U.S. board, only the third such appointment across the entire Big 4.
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Revenue compliance questioned heading toward year-end
Whatever public companies have disclosed about revenue recognition so far, regulatory reaction after two quarterly filings would suggest they should plan to say more.
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U.S. still waits for new standards on auditing estimates
Auditors following global standards now have updated rules on how to audit accounting estimates, guidance U.S. auditors have been awaiting for years.
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Lease tools emerge to aid in last-minute adoption work
With less than three months until new lease accounting rules take effect, new tools are emerging to help companies that are still working on implementation.
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Companies should revisit revenue compliance, SEC staff hint
SEC staff have signaled companies might want to take a second look at their revenue recognition compliance as they approach their first year-end filing under ASC 606.
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Tax reform puts pressure on foreign earnings assertions
The Tax Cuts and Jobs Act is compelling companies to think hard about long-standing assertions that foreign earnings are indefinitely reinvested abroad.
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Adverse audit opinions on ICFR taper off in 2017
For the first time since 2010, adverse auditor opinions on internal control over financial reporting tapered off in 2017.
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PCAOB calls out two-thirds of audits at BDO USA
The PCAOB has handed BDO USA another scathing inspection report, finding 67 percent of the audits examined in 2016 failed to comply with standards.
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FASB gives final word on how to account for cloud costs
Unraveling an accounting simplification, companies are returning to an older way to account for software costs associated with certain cloud computing arrangements.
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SEC will watch for SAB 74 disclosure leading to CECL
The SEC will be looking for increasingly detailed disclosures to investors about the expected effects of moving to a new method for recognizing credit losses.
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Report calls out gender disparity among engagement partners
As audit firms disclose who performs public company audits, gender diversity is emerging as the first major concern regarding audit engagement leadership.
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ArticleGuidance confirms diminished tax benefits for exec comp
While certain aspects of tax reform remain ambiguous, the provisions around the deductibility of executive compensation awards are becoming clearer.
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Treasury, IRS issue proposed GILTI rules under tax reform
Treasury and the IRS have issued proposed new regulations on how to calculate global intangible low-taxed income under the Tax Cuts and Jobs Act.
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LeaseAccelerator achieves SOC 2 Type 2 compliance
LeaseAccelerator, a software-as-a-service solution for enterprise lease accounting, announced that it has successfully completed a SOC 2 Type 2 assessment performed by an independent third-party auditor.
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Tax reform enthusiasm is waning, BDO poll says
As the true effects of tax reform unfold, enthusiasm is waning in corporate boardrooms, according to a recent poll.
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Blog
Still MIA: 2016 inspection report on KPMG
Audit regulators remain mum on when, if ever, they will publish a report on their 2016 inspection of Big 4 audit firm KPMG.
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ArticleSEC, FASB issue changes aimed at simplifying disclosure requirements
Companies need to update their disclosure controls and procedures now that the SEC and FASB are starting to trim unnecessary bulk out of disclosure requirements.
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Tesla chief accounting officer splits after one month on the job
Tesla has yet another person to add to its list of quick departures: After just one month of being on the job, Tesla’s chief accounting officer, Dave Morton, provided notice that he was resigning from Tesla, effective immediately.