- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2020-08-06T16:26:00
The Financial Accounting Standards Board finalized changes to accounting standards meant to simplify complexities surrounding liabilities and equities.
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In a speech Tuesday, FASB Chairman Russell Golden laid out the accounting areas he hopes to finalize changes to before his term ends June 30, 2020.
FASB has issued a proposal on the distinction between liabilities and equity meant to cut through complexity known to compromise reporting quality.
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
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after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.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.
