All Accounting & Auditing articles – Page 80
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Blog
FASB proposes amortization change on some debt securities
FASB is proposing to change the accounting for callable debt securities, altering amortization provisions for those purchased at a premium. Tammy Whitehouse has more.
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Blog
COSO issues new fraud risk management guide
COSO, author of the most widely accepted internal control framework in the United States has released a new guide meant to help companies beef up their fraud risk management. More from Tammy Whitehouse.
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Article
Valuation practices under SEC scrutiny
U.S. regulators have made it clear that the process for producing numbers in a financial statement is as important—if not more so—than the numbers themselves. Jaclyn Jaeger has more.
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ArticleIn tech sectors, revenue recognition talks are intense
In preparing to adopt the new revenue recognition standard, experts debate how to apply the rules to complex contracts. Tammy Whitehouse reports.
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Internet of Things’ role in internal audit & compliance
How can internal audit support disruptive opportunities while monitoring for emerging risks coming from the Internet of Things? Columnist Jose Tabuena discusses these challenges.
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Investors left in the dark over SEC auditor independence charge
The SEC may have fined EY for auditor independence violations, but investors in at least one company likely have no idea that the company’s audits may be tainted. Tammy Whitehouse has more.
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FASB offers more narrow corrections to new revenue rule
FASB has issued another proposed update to the massive new standard on revenue recognition to address more technical corrections and upgrades on a handful of narrow issues. Tammy Whitehouse has more.
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Article
FASB adopts eight new cash flow classification rules
After years of nebulous guidance around three major issues of cash flow statements—operating, investing, and financing—FASB is making major clarifications. Tammy Whitehouse reports.
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EY settles two auditor independence cases with SEC
EY has agreed to a $9.3 million settlement of auditor independence charges with the SEC in two cases where auditors got too close to public company audit clients. Tammy Whitehouse reports.
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NYDFS regulator joins Guidepost Solutions
Daniel Burstein, who most recently served as Executive Deputy Superintendent and Acting Chief of Staff for the New York State Department of Financial Services, has joined Guidepost Solutions, a compliance, investigations and risk management firm.
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FTI Consulting expands Forensic Accounting & Advisory Services Practice
Global business advisory firm FTI Consulting has added five professionals to the firm’s Forensic Accounting & Advisory Services practice within its Forensic & Litigation Consulting segment. The expansion of the practice includes the addition of Senior Managing Directors Stephanie Lhomme, Patrick Pericak and Nigel Webb, and Managing Directors Irumire David ...
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Accountants tally Brexit effect in financial statements
To prepare for Brexit, companies need to consider how they might be exposed to new risks, assuring they are reflected in accounting and financial reporting. Tammy Whitehouse analyzes a new PwC report that discusses what near- and long-term issues companies can expect.
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BlogCAQ: Audit’s role in cyber-security exams
Public company auditors are suggesting that companies voluntarily submit to an independent cyber-security examination separate from the existing financial statement audit. Tammy Whitehouse explores a new process for examining and reporting on a company’s cyber-security risk management.
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SAP enhances tools for IFRS compliance
SAP has released the latest enhancements to its revenue accounting platform designed to help CFOs and chief accounting officers master the new IFRS 15/ASC 606 standards. These new accounting standards apply to all entities — public, private, and not-for-profit — that have contracts with customers and will supersede virtually all ...
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CFA Institute: Use data structuring, like XBRL, end to end
Analysts are calling on public companies and regulators to reduce error and improve utility by using structured data like XBRL throughout financial reporting. Tammy Whitehouse reports.
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Article
Audit committees: Here’s your wake-up call on auditor independence
Recent legal spats should alert public companies that they need to decide for themselves whether their audit is being delivered by a truly independent auditor. Tammy Whitehouse has more.
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Blog
Tipalti adds accounts payable tax compliance support for Argentina and Brazil suppliers
Tipalti, a global supplier of payments automation, has extended its accounts payable tax compliance capabilities to help companies collect and validate tax IDs from their suppliers in Argentina and Brazil. Businesses engaging with suppliers and partners in those countries can now ensure tax compliance by recording tax information for those ...
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Blog
FASB proposes new approach to hedge accounting
After finishing rules on the recognition and measurement of financial instruments and on loan losses, FASB is turning its attention back to hedge accounting with a new proposal. Tammy Whitehouse reports.
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Blog
CAMs in new audit report would protect auditors, study says
If the PCAOB requires CAMs, or disclosures of critical audit matters, it will raise doubt in financial statements while protecting auditors from litigation, a new study says.
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Article
Companies make early progress in adopting revenue recognition
As summer slips away, it appears many companies used the time wisely to make some progress in adopting the new revenue recognition accounting standard. Tammy Whitehouse has more.