All Accounting & Auditing articles – Page 79
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Blog
SEC passes on relief for adopting revenue, then accessing capital
Companies adopting the new revenue recognition standard and accessing capital markets soon afterward are getting no clear pass on the extra reporting requirements.
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KPMG's latest inspection shows more modest improvement
KPMG's newest PCAOB inspection report shows another modest improvement in audit errors, although no one is yet jumping for joy over deficiency findings.
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Audit cost data hint at improvements in internal control
The newest data on audit costs suggest public companies, or at least the largest ones, might be getting a handle on internal control over financial reporting. Tammy Whitehouse reports.
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SEC renews calls for revenue disclosures at year-end
Staff members at the SEC continue to beat the drum for disclosure about revenue recognition adoption, even where companies don’t have hard numbers. Tammy Whitehouse has more.
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PCAOB settles two actions against Deloitte affiliates
The PCAOB has settled actions against Deloitte affiliates in Brazil and Mexico involving allegations of issuing false audit reports and failing to archive audit documentation. Tammy Whitehouse reports.
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AICPA objects to Labor Dept. proposal on benefit plan reporting
The accounting profession is objecting to proposed changes to employee benefit plan reporting, especially requiring plan sponsors to name the engagement partner on plan audits. Tammy Whitehouse has more.
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Companies take action against rising audit costs, FERF study says
Tammy Whitehouse has the results of a new study that shows audit cost increases for public companies are outpacing inflation, but the largest companies are taking measures to keep cost increases in check.
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PCAOB plans final action on new audit report
Audit regulators are on track to finalize by year-end a long-developing overhaul of the standard audit report. Tammy Whitehouse looks at what that means for auditors in the coming year.
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SEC signals continued intensity around internal controls
As the year-end audit cycle approaches, regulators are signaling that their expectations around internal control over financial reporting are not diminishing. Tammy Whitehouse reports.
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Questions abound as companies adopt new lease accounting standard
The rise in questions on the new lease accounting standard suggest some companies are cracking the spine on that new rulebook, reports Tammy Whitehouse.
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Workiva, Frazier & Deeter partner to help companies modernize GRC processes
Workiva, a business software company, has announced a partnership with accounting tax, and consulting services firm, Frazier & Deeter, to complement Wdesk implementation for the Sarbanes-Oxley Act and risk management. In other news, Workiva announced that it was named as a leader in the Gartner Magic Quadrant for Financial Corporate ...
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Article
The PCAOB must provide better guidance for ICFR
When it comes to better understanding how to live up to Auditing Standard No. 5, “talk to your auditors” is poor advice, writes Bob Conway.
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Article
Biggest companies wrapping up revenue recognition studies
Big companies are wrapping up revenue recognition assessments and determining what to disclose to investors at year-end. Tammy Whitehouse has more.
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Blog
Goodwill impairment doubled in 2015, new study says
Amid low oil prices and a spike in M&A, goodwill impairment at public companies doubled from in 2015, hitting its highest levels since the financial crisis.
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Blog
FASB issues new restricted cash rule, proposal on stock comp
FASB has published a new rule to combat diversity in restricted cash accounting and a new proposal to clarify the rules around stock compensation modifications.
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Blog
SEC warns companies: don't ask auditors for help on revenue rule
The SEC is cautioning companies hoping for help from their auditors in adopting the new revenue recognition standard. They are limited by independence rules.
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Blog
FASB chair Golden reappointed, two new members named
Russ Golden has been appointed to a second term as chairman of FASB, and two new members have been appointed to fill terms that will expire in mid-2017. Tammy Whitehouse has more.
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Blog
SEC sees progress in non-GAAP accounting compliance
Non-GAAP accounting is still causing some heartburn for public companies, but the SEC is signaling it is encouraged by improvements in recent quarters.
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Article
Tax reform looks likely, but companies advised to hold tight
Under a Trump presidency and a GOP Congress, corporate tax reform is considered inevitable. Tammy Whitehouse asks: Should companies alter tax planning or compliance activities?
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Blog
CFOs, controllers struggle with pace of change, poll says
CFOs and controllers are struggling to keep up with the pace of change in financial reporting, having a significant impact on effectiveness, according to a global EY survey. Tammy Whitehouse has the results.