- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Maria L. Murphy2021-02-12T17:51:00
The Financial Accounting Standards Board ruled tentatively to move forward with and expand the scope of its proposed standard update regarding goodwill triggering events under Topic 350. The standard is expected to be finalized in March.
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The Financial Accounting Standards Board announced the adoption of an accounting standards update that provides an alternative for goodwill triggering event evaluation.
Goodwill impairment recorded by U.S. public companies fell 10 percent from 2018 to 2019, according to Duff & Phelps’ latest study. An early look at 2020 figures suggests a big rise in next year’s results as a result of the pandemic.
The Financial Accounting Standards Board proposed a standard update to provide an accounting alternative to the goodwill triggering event assessment for certain private companies and nonprofit organizations.
Erica Williams was reappointed to a second term as chair of the Public Company Accounting Oversight Board after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.
Software company Autodesk said it won’t restate several years of financial statements following an audit committee investigation into potential accounting misconduct.
Los Angeles-based bank holding company Broadway Financial Corp. disclosed in a public filing weaknesses discovered in its internal control over financial reporting because of training shortfalls.
