All articles by Tammy Whitehouse – Page 18
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Blog
Deloitte settles claims tied to mortgage lender collapse
Deloitte will pay $149.5 million to settle claims with the Justice Department over its audit work at Taylor, Bean & Whitaker, a mortgage lender that collapsed in 2009.
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Blog
Newest IIA study will focus on transformation of internal audit
The newest internal audit will suggest chief audit executives need to focus on developing talent to meet a mandate regarding fast-paced changes in business risks.
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Article
In M&A, SEC hints at relief over accounting rule differences
M&A deals could become a little more complicated this year as a result of changes in accounting standards and complexity around what needs to be reported.
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Blog
New poll shows strains as companies prepare for lease rules
A survey on lease accounting shows some stress in the system as companies wrap up one huge accounting standard adoption and dig into the next one.
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Blog
KPMG poll: Much work remains to be ready for lease rules
Companies still have a long way to go to be ready for new lease accounting rules that take effect in 2019, according to a recent KPMG poll.
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ArticleNew rules accelerate recognition of unredeemed gift cards
Gift card issuers have a new post-holiday-season hangover issue to address this year as they adapt to new accounting rules on how to recognize gift card revenue.
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Blog
FASB queues up technical questions on hedging standard
After approving a new standard for how to account for hedges in financial statements, now FASB is hearing requests for clarifications and technical corrections.
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Blog
Is IFRS 9 shaking up U.S. activity to adopt CECL?
Accounting activity at publicly held financial institutions apparently is picking up to prepare for new requirements for the recognition of loan losses.
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Blog
ERM for ESG risks: Companies have new guidance to ponder
COSO is looking for feedback on draft guidance regarding how its ERM framework can be used to manage risks in environment, social, and governance areas.
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Blog
Auditors defer more to former colleagues, study suggests
Auditors will show some deference to judgment calls when the CFO of the client company is an alumni of the audit firm, according to emerging academic research.
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Article
SEC considers amending auditor independence rules
Has it become unrealistic for some companies to engage truly independent auditors? Exploring that possibility, the SEC may amend its independence rules.
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Blog
FASB plans to finalize tax reform guidance
The FASB plans to finalize by Feb. 16 guidance that will allow entities to reclassify certain tax effects in equity as a result of recent tax legislation.
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Blog
Early filings point to uptick in revenue failures
Audit Analytics is predicting companies will disclose an increased number of accounting failures in 2018 after the adoption of new rules on revenue recognition.
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Blog
One Big 4 firm grows client base, others lose, data says
For the third straight year, one Big 4 firm has held steady or grown its number of public company audit engagements while the other three have lost ground.
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ArticleFraud, conspiracy charges pile on audit committee task list
Charges of fraud and conspiracy have rocked the audit profession and raised concerns about the regulatory process, leaving audit committees with more questions to ask auditors.
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Blog
COSO appoints new chair, may consider internal control guidance
As new leadership takes the helm at COSO, the board is considering whether it can help sort out ongoing tension over public company internal control reporting.
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Blog
COSO, IAASB form ties to sustainability reporting
Sustainability reporting is breaking new ground in attaching itself to traditional financial reporting after an advocate has formed some new relationships.
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Blog
Tax law gives companies reason to check pension funding
The Tax Cuts and Jobs Act gives companies new incentives to fund up their defined benefit pension plans, which have been underfunded in recent years.
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Article
PCAOB ponders plateau, calls on firms to dig deeper
With PCAOB inspection results hitting a plateau, how can auditors be held accountable for better audit quality? Amid allegations of fraud and conspiracy, is culture a factor?
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Blog
FASB approves change to lease rule; more changes coming
FASB has finalized a change to the pending new lease accounting standard meant to make it easier for companies to transition to the new requirements.