All articles by Maria L. Murphy – Page 3
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ArticleReal estate rationalization programs on rise amid COVID
As the COVID-19 pandemic continues and businesses make strategic changes in response, one of the primary areas of focus is managing where employees will work and evaluating real estate portfolios.
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ArticleCAQ report: Climate-related risk considerations in audited financial statements
A recent Center for Audit Quality report aims to provide an understanding of how company management and their auditors apply current U.S. accounting and auditing requirements for financial statements related to climate-related risks.
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ArticleESG matters have financial reporting implications now
While the possibility of SEC regulation mandating additional ESG disclosures remains a hot topic, the potential effects of ESG matters on a company’s financial accounting and reporting are not a future consideration.
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ArticleStudy: How COVID-19 has affected public company financials
Disruptions to normal operations and shifts in work environments as a result of the COVID-19 pandemic caused an increase in late filings and changes to controls, according to new research from Audit Analytics.
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ArticleStudy: Auditor assurance over ESG reporting still in early stages
Despite an increase in ESG disclosures that is expected to continue, a significantly low number of public companies have obtained audit firm assurance regarding that reporting, according to a new study.
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ArticleChanging accounting standards driving financial process remediations
In response to new standards affecting leases, revenue recognition, and credit losses, public companies have significantly changed their financial processes in the past year and are not done yet, according to data from Deloitte.
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ArticleOne-on-one with Richard Jones: What lies ahead at FASB
A year into the job, FASB Chair Richard Jones catches up with Compliance Week regarding recent improvements to major accounting standards, ongoing projects, future topics of interest, and more.
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ArticleAudit report: Assessing risk landscape for IPOs
An initial public offering presents significant opportunities for market participants that are accompanied by equally notable governance risks, new research from Audit Analytics explores.
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ArticleStudy: Big Four audit hold still strong despite 2021 dip
The Big Four’s dominance on the public company audit market remains despite a slight dip in numbers in the last year, according to the latest research from Audit Analytics.
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ArticleCECL roundtable explores implementation issues during COVID
How the Financial Accounting Standards Board’s CECL standard fared during the height of the pandemic and more were discussed as part of a virtual roundtable.
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ArticleSurvey: Audit still facing hurdles with next-gen tech
Many senior audit leaders and their teams are still in the early stages of, or have not yet begun, implementing next-generation tools and strategies into their internal audits, according to a new survey.
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ArticleStudy: SPACs surge shakes up first-quarter IPO market
Because of the recent SPACs craze, the first quarter of 2021 saw the highest IPO activity in U.S. markets in at least 20 years, according to Audit Analytics. David Bukzin, leader of the SPAC team at Marcum, provides context.
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ArticleFASB advances targeted updates to leases standard
The Financial Accounting Standards Board has tentatively ruled to move forward with a pair of updates to its leases standard aimed at certain sales-type leases and discount rates for lessees.
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ArticleAccounting considerations for companies merging with SPACs
The Securities and Exchange Commission recently reinforced its focus on the importance of corporate governance and financial reporting by special purpose acquisition companies (SPACs).
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Five key going concern considerations for 2021 reporting
Evaluating potential going concern issues was a hot topic for companies and their auditors in 2020. With first-quarter 2021 reporting around the corner, Maria Murphy offers five key considerations to be thinking about.
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ArticleAudit client turnover 2020: EY ends Deloitte’s streak; PwC, KPMG lag behind
Ernst & Young and Deloitte each had net increases in new public company audit engagements in 2020, while Big Four peers PwC and KPMG saw net decreases, according to the latest annual study.
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ArticleHow audit can support increased ESG mandates
The Center for Audit Quality and American Institute of Certified Public Accountants released a new roadmap that provides tools for independent auditors to support companies in achieving their ESG reporting goals.
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ArticleFERF study: Average audit fees inch higher in 2019
In the 11th edition of its annual public company audit fee study, the Financial Education & Research Foundation reported an increase of 6 percent in average audit fees largely due to expanded scope.
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ArticleFASB advances goodwill triggering event standard update
The Financial Accounting Standards Board ruled tentatively to move forward with and expand the scope of its proposed standard update regarding goodwill triggering events under Topic 350. The standard is expected to be finalized in March.
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ArticlePCAOB 2019 inspection reports: Deloitte still tops; PwC deficiency rate rises again
Three of the Big Four audit firms—Deloitte, EY, and KPMG—improved their year-over-year deficiency percentage in the PCAOB’s 2019 inspection reports, while PwC’s deficiency rate increased for the third straight year.