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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Maria L. Murphy2023-04-07T11:00:00
The Financial Accounting Standards Board (FASB) last month issued a proposed accounting standards update (ASU) to improve accounting and disclosures for certain crypto assets.
FASB received significant feedback during its 2021 agenda consultation that improving accounting and disclosure for crypto assets should be one of its top priorities. Current generally accepted accounting principles (GAAP) do not provide decision-useful information to users of financial statements about the value of crypto assets or the types of assets held.
The board added the project to its technical agenda last May.
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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
2023-10-23T19:44:00Z By Aaron Nicodemus
Uncertainty created by the Federal Deposit Insurance Corporation’s lack of clarity on risks posed by crypto assets has left member banks with the impression the agency wants banks to avoid them, according to a new report from the Office of Inspector General.
2023-03-15T15:26:00Z By Maria L. Murphy
Companies are working on plans to reduce their carbon emissions. The popularity of environmental credits has grown as a way for companies to meet their emission reduction targets.
2022-10-25T13:00:00Z By Maria L. Murphy
The Financial Accounting Standards Board tentatively decided to require crypto assets that are in scope to be measured at fair value. Experts discuss the evolving ramifications of the project.
2024-06-12T01:46:00Z By Kyle Brasseur
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after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.
2024-06-03T17:35:00Z By Kyle Brasseur
Software company Autodesk said it won’t restate several years of financial statements following an audit committee investigation into potential accounting misconduct.
2024-05-24T16:27:00Z By Jeff Dale
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.
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