All articles by Tammy Whitehouse – Page 3
-
ArticleFASB to push CECL to 2023 for small public companies
FASB has signaled it plans to extend CECL for smaller public companies to 2023, along with delaying a number of other effective dates.
-
ArticleIIA seeks comments on update to ‘three lines’ model
Internal auditors are buffing up their longstanding Three Lines of Defense model for how to provide organizations with optimal coverage of risk and control functions.
-
ArticleFASB tees up CECL delay for small public companies
FASB is formally considering delaying the required effective date of some of its standards, including credit losses for small public companies.
-
ArticleU.K. audit regulators see no improvement in audit quality
U.K. audit regulators saw no improvement in audit quality in their most recent inspections, indicating none of the major firms achieved targeted pass rates.
-
ArticleAnother CECL sleeper? Auditors get new rules on estimates
While companies adopt CECL, auditors are gearing up for new rules requiring them to more closely scrutinize estimates and the specialists who produce them.
-
ArticleFASB seeks comment on how to sort out goodwill issues
FASB is looking for input on how to address ongoing problems in the reporting of certain intangible assets, especially goodwill.
-
ArticleSEC approves new audit rules on estimates, specialists
The SEC has approved final standards issued by the PCAOB giving auditors new requirements for auditing estimates and relying on the work of specialists.
-
ArticleCECL in summer: Get ready for models, data, auditors
It may be summertime, but the living is not so easy for corporate finance staff preparing for CECL—a major change to the reporting of credit losses.
-
ArticleBDO shows improvement in latest PCAOB inspection
The PCAOB says it found fault with 39 percent of the audits inspected at BDO USA in 2017 – the firm’s first time with a deficiency rate below 50 percent since 2011.
-
ArticleFASB proposes small changes to CECL standard
FASB has issued a proposed revision to the CECL standard to address a handful of implementation questions as companies prepare for the new accounting.
-
ArticleKPMG fallout: Cheating allegations raise new questions
After new allegations at KPMG of cheating on internal training tests, audit committees now have another area of questioning for their external auditors.
-
ArticleSEC overturns PCAOB action stemming from financial crisis
The SEC has canceled sanctions imposed by the PCAOB on a now-retired KPMG auditor connected with a mortgage lender failure at the height of the financial crisis.
-
Article
SEC finalizes change to auditor independence rules
The SEC has finalized its revision of auditor independence rules to change the threshold around lending relationships with clients that would raise concerns.
-
Article
More cheating charges at KPMG: SEC fines firm $50M
The SEC has fined KPMG for not only allegations of cheating on regulatory inspections, but also new charges of numerous auditors cheating on training exams.
-
ArticleSoftware problems exacerbate lease compliance
Nearing the end of their second quarter observing new lease accounting rules, many public company accounting departments are still cursing their software.
-
Article
Kraft Heinz cuts net income, continues with SEC probe
In a recently filed restatement, Kraft Heinz reduced its reported net income by $150 million going back to 2015 to correct employee misconduct in accounting.
-
Article
Grant Thornton changes leaders, ending CEO term early
Offering no specific reason for his early departure, Grant Thornton says Mike McGuire is stepping aside as CEO.
-
ArticleRegulators globally still call for better audits
While encouraged by the trend in audit inspection results, global audit regulators report they are still seeing levels of audit deficiency that command continued focus on improvement.
-
ArticleNew bill seeks to end regulatory stalemate with China
Bipartisan legislation proposes to increase oversight on China-based companies listed on U.S. exchanges and delist those that fail to comply in three years.
-
ArticlePCAOB disciplines former Big Four auditors
The PCAOB has disciplined two former Big Four auditors—one over an audit of internal control and the other over inspection issues.