- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2021-11-10T23:42:00
The Financial Accounting Standards Board declined providing private companies and certain not-for-profit organizations a third date delay to its leases standard, which is scheduled to take effect fiscal years beginning after Dec. 15, 2021.
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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.
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 finalized effective date delays of one year to standards affecting revenue recognition and leases in response to the coronavirus pandemic.
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after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.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.
