All articles by Maria L. Murphy – Page 4
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ArticleCommon themes from financial statement fraud SEC enforcement actions
A new report from the Anti-Fraud Collaboration analyzes the most common financial statement fraud themes noted in SEC enforcement actions and offers insights to mitigate the top risk areas.
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ArticleCAQ review: Little surprises in Year 1 of CAM reporting
The Center for Audit Quality released its review of the first year of auditor reports for over 2,000 large accelerated filers that included the PCAOB’s new critical audit matters requirements.
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ArticleFASB Chair Jones projects pandemic challenges to persist in 2021
New FASB Chairman Richard Jones said in a recent speech that he believes accounting challenges from the coronavirus pandemic won’t go away soon, with his organization poised to address new issues as they arise.
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ArticlePCAOB reviews a year like no other, previews what lies ahead in 2021
PCAOB board members remark on changes at the organization amid the coronavirus pandemic, recent audit inspection findings, priorities for 2021, and more.
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ArticleSEC accounting office acknowledges challenging year for auditors
Among other things, the SEC’s chief accountant discussed activities relating to public company financial reporting, accounting and auditing policy updates, and financial reporting considerations related to COVID-19 at a conference this week.
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ArticleThings to consider for companies preparing for 2020 year-end audits
It’s no surprise that in a year like no other, there are a number of factors to consider for year-end audits that you might not be used to thinking about.
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ArticleAudit committee best practices for understanding and acting on cyber-threats
Cyber-security risk oversight is the area with the greatest increase in audit committee disclosures in proxy statements, so you better make sure you’ve got a handle on understanding your responsibilities.
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ArticleHow auditors can help companies with non-GAAP measures, KPIs
A new report from the Center for Audit Quality includes key questions audit committee members can ask to fulfill their oversight responsibilities as they discuss non-GAAP financial measures and KPIs with management and auditors.
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ArticleDeloitte: Top-of-mind challenges for Q3 financial reporting
A new report from Deloitte highlights third-quarter financial reporting and accounting challenges that should be top of mind as the coronavirus pandemic continues with no end in sight.
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Article‘Audit in Action’: BDO partner shares data analytics journey
Brian Miller, national partner of audit transformation and innovation at BDO USA, talked with Compliance Week about how the pandemic has driven adoption of technologies by BDO’s auditors.
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ArticleTakeaways from FASB leases roundtable
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.
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ArticleReport: 2019 restatements at 19-year low; revenue still top issue
According to Audit Analytics’ latest annual restatement study, the total number of restatements dropped for the fifth consecutive year to a 19-year low of 484, with revenue recognition still the biggest driver.
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ArticleAn auditor’s perspective on big client turnover
An audit growth leader at KPMG shares his perspective on the process of public company auditor changes in the wake of GE’s decision to transition to working with Deloitte.
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ArticleSurvey: How COVID-19 has impacted companies’ leases
The coronavirus pandemic has wreaked havoc on companies’ leasing function, according to results from a recent survey from Compliance Week and Visual Lease. The study reveals how companies are tackling leasing issues in the “new normal.”
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ArticleFASB proposes new chapter for financial reporting framework
The Financial Accounting Standards Board has proposed a new chapter to Concepts Statement No. 8 that would define 10 elements of financial statements.
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ArticleHow coronavirus has shifted non-GAAP measures
The rules around non-GAAP reporting have not changed, but the coronavirus pandemic has brought about new considerations and challenges to consider in second-quarter reporting.
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ArticleBest practices for auditing in the current crisis and beyond
A session from a recent MetricStream virtual conference provides lessons for internal audit on what risks to watch out for and how to chart a path forward.
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ArticlePCAOB inspection reports: Deloitte shines in 2018; KPMG still behind
The Public Company Accounting Oversight Board issued 2018 inspection reports for the six largest U.S. audit firms, with Deloitte boasting the fewest deficiencies among the Big Four and KPMG struggling most.
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ArticleDocumentary: Roadtrip Nation, CAQ partner to explore auditing careers
Considering a career in auditing? A new documentary produced by Roadtrip Nation and supported by the Center for Audit Quality follows three individuals pursuing just such a career.
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ArticleHow corporate finance can manage coronavirus challenges
Steve Barta, a partner in the Audit and Assurance practice of Deloitte & Touche, reveals some key accounting areas where finance leaders might need to give extra attention.