All articles by Tammy Whitehouse – Page 15
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Blog
Companies reflect pain points over accounting change
Virtually all public companies are feeling some pain over accounting change occurring in their organizations the past few years, according to a recent poll.
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Blog
FASB staff plan to suggest CECL edits to answer questions
FASB staff plan to suggest narrow changes to the new standard on credit losses to answer implementation questions on classification changes, interest, and more.
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Blog
Big 4 firms audit fewer companies, analysis shows
Big 4 firms are performing fewer public company audits as the number of public companies continues to decline, according to Audit Analytics.
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Article
IRS gives partial guidance on revenue recognition
It’s the tax department’s turn buzz over how to recognize revenue for tax purposes—and with good reason after getting some puzzling guidance from the IRS.
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Blog
Newest poll shows lag in lease accounting adoption
With only six months to the effective date of a new lease accounting rule, more than half of companies have not started to prepare, according to a new survey.
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Blog
Restatements dip again in 2017, newest study shows
Title: Restatements dip again in 2017Restatements took another downward dip in 2017, suggesting continued improvement in financial reporting quality, according to the newest study from Audit Analytics.
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ArticleAccounting change drives new ideas about how to do business
As new accounting rules begin to change key metrics in financial statements, companies are beginning to reconsider certain aspects of how they do business.
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PCAOB fines Deloitte over software revenue errors
Audit regulators have censured and fined Deloitte over a series of self-reported accounting errors that led to restatement at technology firm Jack Henry & Associates.
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Blog
Data can be compliance officer’s best business ally
At Compliance Week 2018, compliance officers shared tips on how they have developed innovative uses for data to better strategize an approach to compliance.
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Blog
PCAOB explores whether to change audit inspection process
A newly seated PCAOB is taking a fresh look at its entire regulatory process, including whether it’s time to reconsider how it performs audit inspections.
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ArticleIn adopting lease rules, companies ponder materiality
As companies consider limited timeline remaining to adopt lease accounting rules, materiality discussions are helping to prioritize the workload.
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Blog
Banks reconsider business approaches as CECL draws near
A pending new requirement for how to reflect loan losses in financial statements is beginning to affect how banks do business, according to a recent poll.
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Blog
System, identification issues complicate lease adoption
Companies are telling the SEC they are still having trouble getting IT systems in place that can put leases on corporate balance sheets as required in 2019.
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Article
Auditors plan deeper dives into outsource provider reports
As guidance changes and regulators continue to hammer on internal controls, auditors are starting to dig deeper into reports provided by outsourced service providers.
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Blog
IRS issues new guidance on changing revenue method
Now that companies are following new accounting methods to reflect revenue in financial statements, the Internal Revenue Service is offering new guidance on reflecting income in tax filings.
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Blog
New financial instrument rule draws Buffett rebuke
New accounting rules on how to reflect financial instruments in financial statements are beginning to produce predicted earnings volatility, as recently bemoaned by America’s celebrity investor, Warren Buffett.
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Blog
IOSCO promotes audit quality via audit committee oversight
Securities regulators globally are troubled enough by the state of audit quality that they are developing a white paper to promote better audit committee oversight.
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Article
SEC proposes change to auditor independence rules
The SEC is looking to dial back strict requirements on auditors that have made it difficult for Big 4 firms to assert their independence on certain big engagements.
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Article
As lease rules advance, companies need to alert investors
Lease accounting is the next big accounting change on deck, and companies should be prepared to give investors plenty of advance notice on what to expect.
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Blog
Revenue rule prompts edit to collaborative arrangements text
FASB has proposed an update to accounting standards to make some targeted improvements to the guidance on accounting for collaborative arrangements.