- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Maria L. Murphy2021-04-16T16:22:00
The Financial Accounting Standards Board has tentatively ruled to move forward with a pair of updates to its leases standard aimed at certain sales-type leases and discount rates for lessees.
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The Financial Accounting Standards Board issued an update to its leases standard regarding discount rate guidance for lessees that are not public business entities.
In response to new standards affecting leases, revenue recognition, and credit losses, public companies have significantly changed their financial processes in the past year and are not done yet, according to data from Deloitte.
The Financial Accounting Standards Board finalized an update to its leases standard targeting sales-type leases with variable lease payments.
Chinese authorities banned PwC’s Chinese unit from performing audits in the country for six months, labeling the subsidiary’s flawed audit work as complicit in the failure of giant property developer Evergrande.
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after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.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.
