All articles by Tammy Whitehouse
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ArticleSEC explores possible new rules on auditor independence
SEC Chairman Jay Clayton has instructed staff to follow up on concerns raised in public comments with respect to auditor independence requirements.
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ArticleBanks finalize CECL prep, but others have work to do
Big banks are making progress in preparing for CECL, but non-bank operating companies are likely to face a heavier lift as they approach the fourth quarter.
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ArticleLIBOR report suggests steep uphill climb still ahead
Despite warnings to prepare, financial institutions still face a lot of work and uncertainty around the demise of LIBOR, a new assessment suggests.
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ArticleLease rule implementation still a slog, poll says
Halfway through the first year reporting under new lease accounting rules, only one-fourth of public companies said their implementations were complete, according to a recent Deloitte poll.
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ArticleAuditors develop practice aid to compare notes on CECL
Auditors are comparing notes on how they will interact with audit committees regarding CECL, developing a practice aid that might also interest preparers.
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ArticlePCAOB sanctions Marcum over auditor independence issues
The PCAOB has settled disciplinary actions with audit firm Marcum, an affiliated firm, and its former auditor independence leader over independence violations.
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ArticleInvestors want more from banks on CECL, says FASB member
Investors want more information from leading banks over how financial statements will be affected by the adoption of the new CECL approach to credit losses.
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ArticleFASB offers changes to ease reference rate transition
FASB is proposing guidance intended to ease the potential accounting burden companies expect to face as they navigate reference rate reform.
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ArticleGovernment watchdog group targets PCAOB performance
The PCAOB is taking heat from a government watchdog group, which says the audit regulator is “doing a feeble job” protecting investors.
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ArticleMigration to new SOX technology picks up pace, report says
Amid persistent cost and compliance challenges with internal controls, the pace of migration toward new accounting technologies appears to be picking up.
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ArticleUnclaimed property filing deadlines loom large
Deadlines are fast approaching for state unclaimed property filings, with roughly 40 states setting filing dates on Oct. 31 or Nov. 1.
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ArticleAuditors ID 1.8 CAMs per large accelerated filer, report says
Large accelerated filers saw an average of 1.8 issues called out as critical audit matters in their first round of reporting, according to a new analysis.
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ArticleGE whistleblower report shines light on insurance liability
Recent whistleblower allegations against GE have put a spotlight on mounting liabilities that will hit corporate balance sheets when insurance accounting rules shift.
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ArticleKPMG CEO elects not to seek second term
Lynne Doughtie, chairman and CEO of KPMG, has decided she will not seek re-election when her term expires next summer.
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SEC settles with RSM over audit independence issues
The SEC has settled charges with RSM related to numerous auditor independence violations, spanning more than 100 audit reports across 15 clients.
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ArticleRevenue recognition drove 2018 restatements, new report says
Revenue recognition drove more restatements in 2018 than in prior years and caused more restatements than any other area of accounting, a new study finds.
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ArticlePCAOB issues new guidance on auditing estimates
The PCAOB has issued new guidance to auditors about how to comply with new rules on auditing estimates, supervising specialists, and relying on their work.
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ArticleFASB plans delay for new insurance standard
FASB is proposing another accounting delay, this time for a standard that will change the way companies recognize long-term insurance obligations.
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ArticleIs whistleblowing working? New claims raise questions
Sweeping, open allegations of fraud against major public companies raise fresh questions about the effectiveness of regulatory whistleblower programs.
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ArticleSealed Air dumps EY & hires PwC, as SEC investigates
Under investigation over how it appointed EY, Sealed Air cut ties with its auditor and appointed PwC after clearing independence concerns.