All articles by Tammy Whitehouse – Page 23
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Article
Pushback rises on disclosure of auditor, audit committee talks
Despite calls for transparency around the interaction between audit committees and auditors, angst runs deep about giving investors visibility into that dialogue.
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Blog
FASB finalizes new approach to hedge accounting
The FASB has issued its long-awaited standard to simplify hedge accounting, allowing companies to adopt the new approach almost immediately if they choose.
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Blog
Is audit quality essentially a people problem?
Where there are problems with audit quality, it appears to be more of a problem with people than with institutional approaches to audit work.
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Blog
SEC rescinds historic guidance under new revenue rule
The SEC is telling companies its historic staff guidance on revenue recognition will not trump the new revenue standard when it takes effect in 2018.
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Article
Banks wrangle models, data in early stages of CECL prep
As most public companies deal with revenue recognition and lease accounting changes coming in 2018 and 2019, the banking sector is trying to tame an even bigger beast.
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Blog
New study shows more audit committee disclosure
A recent study of Fortune 100 proxy materials shows audit committees continue to voluntarily explain their oversight of the external audit.
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Blog
Audit tensions often precede control weaknesses, study says
If tensions are rising between a given company and its external auditor, there’s a greater chance the company will be reporting internal control weaknesses.
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Blog
KPMG, partner settle SEC audit failure allegations
The SEC has extracted a $6.2 million settlement from KPMG over charges that the firm and an engagement partner failed to properly audit valuations in 2011.
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Article
Four reasons companies are lagging in lease adoption, and how to get on track
Companies are slipping behind in implementing the new lease accounting standard, and the call for deferral in the effective date may be getting under way.
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Blog
SEC opens search for PCAOB members, including chair
New leadership will soon take over the helm of the PCAOB after SEC Chairman Jay Clayton opens a public search for as many as four board positions.
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Blog
FASB proposes new rules on contributions, grants
Companies may soon have some new instructions to follow in deciding how to account for various types of grants and contributions.
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Blog
FASB plans new expedient for lease accounting
The Financial Accounting Standards Board is preparing to propose a modification to the pending lease accounting standard to amend the transition guidance.
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Article
Cost guidance under new revenue rule is a minefield of issues
Digging deeper into challenges with the revenue standard, companies are traipsing a minefield in determining how to recognize costs tied to generating revenue.
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Blog
PCAOB disciplines PwC, Crowe Horwath affiliate
The PCAOB has disciplined PwC over a broker-dealer audit lapse and Crowe Horwath HK over an investigation involving a China-based company.
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Blog
SEC may relieve certain entities from revenue, lease adoption dates
Big 4 firms say the SEC won’t object if certain “public business entities” adopt new revenue and leasing rules under private company effective dates.
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Blog
Newest poll gives more evidence of heartburn over leasing
Half way from publication to adoption of new lease accounting rules, C-suite executives are worried about whether implementation will get done on time.
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ArticleCompanies clearly favor modified adoption of revenue rule
Investors would like to see full historic numbers under the new revenue rules, but companies clearly are planning to give them less. How will they bridge the gap?
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Blog
SEC seeks comment on PCAOB’s ‘critical audit matter’ rule
Companies with any lingering worries about the impending effects of a new audit report have one last opportunity to appeal for change.
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Article
CPAs will get new marching orders on spotting illegal acts
A professional accounting committee has opened a can of worms with a proposal regarding how accountants should respond when they stumble upon illegal activity.
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Blog
House panel ponders rollbacks, including internal control audits
A House sub-committee is asking whether federal regulation has hindered the growth of public companies, including Sarbanes-Oxley auditing of internal controls.