- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2020-11-06T21:10:00
The Financial Accounting Standards Board finalized an update to its standard on accounting for long-duration contracts at insurance companies that will delay the effective date by one year and ease compliance burdens for early adopters.
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FASB held a public roundtable on implementation of the new lease accounting standard, discussing technical issues that are challenging for practitioners and where additional or amended guidance might be needed.
The Financial Accounting Standards Board proposed a one year delay to its standard on accounting for long-duration contracts at insurance companies as a result of the ongoing coronavirus pandemic.
Purported “testimonial and review” service Rytr agreed to stop selling its program that used artificial intelligence to create fake content as part of a consent order with the Federal Trade Commission.
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after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.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.
