All Accounting & Auditing articles – Page 74
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Blog
To combat fraud, check accounting policies, internal controls
In the battle against fraud and restatements, a company’s best allies are strong accounting policies and well-documented internal controls, a new report says.
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Article
Can inline XBRL save XBRL? Or at least improve data quality?
Slow progress in shifting financial statement data to the digital realm may be getting a boost, but the clock is ticking for proponents show the real benefits of XBRL.
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Blog
SEC approves 2017 GAAP Taxonomy for use in XBRL filings
The SEC has given its final approval to the 2017 GAAP Taxonomy that public companies will use to prepare their XBRL financial statement exhibits.
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Blog
FASB finalizes change, proposes another to compensation rules
The FASB is making inroads on more accounting change around compensation with a new standard for retirement benefits and a new proposal around stock compensation.
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Article
Early work on new lease rules reveals big effort ahead
Waiting in line behind revenue recognition, new requirements to bring leases on to corporate balance sheets are starting to win pockets of attention.
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Blog
IAASB appoints technical director
The International Auditing and Assurance Standards Board (IAASB), responsible for global audit and assurance standard setting, has appointed Matthew Waldron as technical director.
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Blog
Wolters Kluwer reaches agreement on acquisition of Tagetik
Wolters Kluwer Tax & Accounting recently announced that is has reached agreement on the acquisition of Tagetik for €300 million in cash. The acquisition expands the division’s existing portfolio of corporate tax compliance and internal audit solutions.
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Blog
Companies will soon have new way to gut check cyber risk
The accounting profession is putting the finishing touches on a new, voluntary audit to help companies better assess their cyber-security risk management.
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Blog
Non-GAAP crackdown renders earnings process complex, poll says
The crackdown on non-GAAP financial reporting has led to little investor or analyst reaction and made the earnings release process long and complex, companies say.
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Article
Banks prepare for expected credit loss rules
Amid changing revenue recognition rules, banks face even bigger changes in recognizing expected credit losses, a rule everyone else needs to follow, as well.
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Blog
Lease survey suggests companies are moving toward adoption
A software company’s recent survey suggests two-thirds of companies are on schedule in adopting new lease accounting requirements, but even the firm’s CEO is wary.
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Blog
FASB appoints new members to Emerging Issues Task Force
FASB has announced the appointment of Kimber Bascom, partner-in-charge of the Accounting Standards Group of KPMG’s Department of Professional Practice, and Lawrence Dodyk, an assurance partner in PwC’s National Professional Services Group, to the Emerging Issues Task Force.
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Blog
SEC proposes requiring inline XBRL, provides IFRS taxonomy
The SEC has taken steps to advance the use and accuracy of digital financial statement data, proposing required use of inline XBRL and providing IFRS taxonomy.
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Blog
AICPA issues five new revenue recognition drafts
In the steady march to new accounting for revenue recognition, the AICPA has five more new industry-specific implementation drafts for companies to consider.
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Blog
FASB updates accounting for certain benefit plans
Companies with employee benefit plans held in master trusts have some new accounting rules to learn and observe, courtesy of the Financial Accounting Standards Board.
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Article
Is it a business or an asset? Companies get new guidance
Companies will have some new analysis to do to assure their accounting for business transactions reflects a new definition of “business” in GAAP. Tammy Whitehouse has more.
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Blog
Going concern audit rules updated for private, not public, companies
Private company audits soon will reflect new standards around the going concern call, but public companies will be getting their new standards no time soon. Tammy Whitehouse reports.
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Blog
FASB issues yet another revenue recognition clarification
Down deep in the weeds of the implementation of new revenue recognition accounting, companies have a new clarification to consider from FASB, writes Tammy Whitehouse.
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Blog
Database naming engagement partners mushrooms with new filings
The public database created by the Public Company Accounting Oversight Board to identify engagement partners overseeing public-company audits is growing, with partners on about 175 engagements now identified. Tammy Whitehouse reports.
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Article
IRS campaigns point to new tax risks for public companies
Companies need to take a fresh look at their biggest tax risks to ensure they can withstand a new kind of scrutiny, both in tax filings and in financial statements. Tammy Whitehouse reports.