All Accounting & Auditing articles – Page 78
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Blog
PCAOB’s reorganized auditing standards rule book takes effect
Now that the calendar has turned to 2017, auditors will be following a new nomenclature with respect to citing auditing standards after a reorganization of the rules has taken effect. Tammy Whitehouse reports.
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Article
Agenda 2017: revenue recognition, meet internal controls
In 2017, monumental accounting change in the form of revenue recognition will crash head on with continued intensity around internal controls. Tammy Whitehouse reports.
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PCAOB publishes views on conflict with China rules
To address how U.S. audit rules intersect with those in China, the PCAOB has published a four-page Q&A to explain its views on why firms subject to its rules should observe them. Tammy Whitehouse reports.
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IOSCO joins call for disclosure on new accounting standards
International regulators, like SEC in the United States, are calling on companies to give plenty of disclosure about transition to new accounting standards.
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Hanson resigns abruptly from PCAOB
Jay Hanson, the lone career auditor among U.S. audit regulators, resigned abruptly from his position at the Public Company Accounting Oversight Board. Tammy Whitehouse has more.
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FASB makes "minor, minor, minor" changes to revenue recognition
FASB has issued the last batch of intended changes to clarify or correct various points raised in the new revenue recognition accounting requirements.
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Some plan to dig into leases in 2017, some not so much
The latest poll on big accounting change says some companies are making plans to devote time in 2017 to the new requirements around lease accounting, according to Tammy Whitehouse.
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New senior managing director joins Ankura
Ankura Consulting Group, a business advisory and expert services firm, has appointed Steven Richards as senior managing director. Based in the firm’s Washington, D.C. office, Richards will practice within Ankura’s Investigations & Accounting Advisory group.
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ArticleAre companies ‘grieving’ over new revenue recognition rules?
Maybe it’s a collective sense of grieving that is keeping so many companies on the sidelines as big accounting change looms over revenue recognition. Tammy Whitehouse reports.
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AICPA objects to naming partners on benefit plan audits
The accounting profession is objecting to proposed changes to employee benefit plan reporting, especially requiring the name of the engagement partner on plan audits. More from Tammy Whitehouse.
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SEC approves support fee increase to fund PCAOB budget
The accounting support fee that public companies and broker-dealers pay to support audit regulation will rise in 2017 by about 6 percent, based on the PCAOB’s budget. Tammy Whitehouse has more.
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PCAOB hits Deloitte again, this time at Netherlands affiliate
Deloitte has taken another enforcement hit from the PCAOB, this time for independence violations at an affiliate in the Netherlands. More from Tammy Whitehouse.
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CAQ nudges audit committees on revenue recognition oversight
Citing an “urgent” need for audit committees to get up to speed on implementation of the new revenue recognition standard, the Center for Audit Quality offers some pointers. Tammy Whitehouse has more.
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Companies fixed prominence most in non-GAAP sweep
To respond to pushback on non-GAAP accounting, most companies made changes to how prominently they displayed such figures, according to a recent analysis. Tammy Whitehouse reports.
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Still battling over internal control? Focus on risk assessments, communication
In the continually evolving battle over internal control reporting and auditing, the strategy for the next front should include better risk assessments and timely communication with auditors. Tammy Whitehouse has more.
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New board member joins IASB
The Trustees of the IFRS Foundation, led by Michel Prada and responsible for the governance and oversight of the International Accounting Standards Board, have announced that Françoise Flores will join as a board member on Jan. 1, 2017. Find more personnel announcements in the CW Grapevine.
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2016 PCAOB inspection results will deliver mixed results
When 2016 inspection results are published on the major audit firms next year, they will show an overall reduction in adverse findings, but also a spike in findings for at least one Big 4 firm. Tammy Whitehouse has more.
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SEC shifts non-GAAP focus to most serious violations
Tension continues over proper use, especially prominence, of non-GAAP accounting measures, but the focus seems to be shifting to the most egregious violations.
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FASB plans pause before digging into big new rules
After issuing some huge changes to accounting standards, FASB will keep the current work load or corporate accounting offices in mind before taking on big new projects.