- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Tammy Whitehouse2019-06-12T15:28:00
Nearing the end of their second quarter observing new lease accounting rules, many public company accounting departments are still cursing their software.
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FASB is formally proposing major changes to effective dates for several significant accounting standards, including a CECL delay for smaller reporting companies.
FASB has issued new lease accounting guidance allowing options for how to reflect uncertain operating lease receivables, which is sure to produce reporting differences.
Companies generally are expected to be ready to report under new lease accounting rules but still face some added work to prepare for ongoing compliance.
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after an ambitious first three years in the role that have seen the agency work to update many of its standards deemed outdated.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.
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.
