All Accounting & Auditing articles – Page 80
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Blog
FASB offers views on lease accounting questions
FASB is getting questions on how to apply the new leasing standard, so the board took the unusual step of offering some informal, high-level feedback. Tammy Whitehouse reports.
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Latest EY inspection shows improvement in error rate
The latest PCAOB inspection report for EY show the firm failed in 29 percent of audits inspected in 2015 to perform a clean audit -- an improvement over 2014 results.
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Transition experts vet four more revenue recognition questions
Companies working to implement the new revenue recognition standard have a little more guidance to consider after FASB’s Transition Resource Group has vetted some lingering uncertainties. Tammy Whitehouse has more.
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Despite heightened risks, auditors limit cyber-questions
Auditors are arming up to be more proactive in the escalating cyber-war, but this year they’re still limiting their focus to financial statement risk. Tammy Whitehouse has more.
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Audit costs take another upward turn in 2015
Rising audit costs of the past few years have not yet leveled off, based on the latest data on audit fees, with companies reporting a 9.16 percent rise in audit costs from 2014 to 2015. Tammy Whitehouse reports.
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New analysis shows audit committees voluntarily say more
Another study confirms audit committees are trying to raise the bar in terms of how much they tell investors about their oversight of the external audit. Tammy Whitehouse has more.
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FASB’s new consolidation guidance lays off indirect interests
FASB’s new consolidation guidance is meant to help companies better determine whether a particular entity should be consolidated to financial statements. More from Tammy Whitehouse.
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New IIA data tallies political pressure on internal auditors
Tammy Whitehouse has the results of a new report from the Internal Audit Foundation that says one in four practitioners around the world face pressure to suppress or change audit findings.
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3 ways audit committees can rein in corporate culture
After another banking scandal, heads are turning to the audit committee for answers. Tammy Whitehouse reports on how audit committees can fix errant corporate culture.
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Auditor rotation: Are we going round in circles?
Mandatory auditor rotation is an idea that goes in and out of favor among various countries, leading to no common practice anywhere. So, Paul Hodgson asks: Why is the whole world chasing its tail on this issue?
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Revenue recognition laggards outnumbered in new poll
Tammy Whitehouse has the results of a fresh survey on revenue recognition that suggests 75 percent of public companies are still assessing how they will be affected with only 14 months to the effective date.
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FASB simplifies income tax accounting for asset transfers
FASB has issued another simplification to accounting rules, this time targeting income taxes. The rule focuses on asset transfers within related entities. Tammy Whitehouse has more.
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Compliance monitoring and artificial intelligence
As compliance programs must deal with growing amounts of data, they need tools to help separate true risks from background noise. Jose Tabuena examines.
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Even with relief, intercompany debt rules still pack a punch
Final tax regulations on intercompany debt provide some relief, but companies still face a heavy uphill climb to achieve the documentation requirements. Tammy Whitehouse explores.
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FASB prepares new rule on debt classification
True to its word, the Financial Accounting Standards Board is preparing to issue a proposal meant to simplify how companies would be required to classify debt in the balance sheet. Tammy Whitehouse has more.
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Board members value disclosures not currently required
Tammy Whitehouse looks at a BDO USA survey that suggests while board members seem dissatisfied with the state of financial statement disclosure today, many seem to value disclosures that aren’t required.
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EY agrees to $11.8 million settlement with SEC on failed audits
EY has agreed to pay $11.8 million to settle more charges from the SEC. This time the firm and two auditors are accused of ignoring red flags, enabling fraud. Tammy Whitehouse reports.
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ArticleAuditors plan to dig into controls, risk in year-end audits
Auditors preparing for the upcoming year-end audit cycle are assembling a long list of accounting, regulatory, and market concerns. Tammy Whitehouse has more.
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Treasury issues final debt-equity rules with carveouts
The U.S. Treasury has issued final regulations on debt-equity treatment, with some changes meant to narrow the scope to target most troublesome transactions. More from Tammy Whitehouse.