All articles by Tammy Whitehouse – Page 31
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Goodwill impairment doubled in 2015, new study says
Amid low oil prices and a spike in M&A, goodwill impairment at public companies doubled from in 2015, hitting its highest levels since the financial crisis.
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FASB issues new restricted cash rule, proposal on stock comp
FASB has published a new rule to combat diversity in restricted cash accounting and a new proposal to clarify the rules around stock compensation modifications.
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SEC warns companies: don't ask auditors for help on revenue rule
The SEC is cautioning companies hoping for help from their auditors in adopting the new revenue recognition standard. They are limited by independence rules.
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FASB chair Golden reappointed, two new members named
Russ Golden has been appointed to a second term as chairman of FASB, and two new members have been appointed to fill terms that will expire in mid-2017. Tammy Whitehouse has more.
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SEC sees progress in non-GAAP accounting compliance
Non-GAAP accounting is still causing some heartburn for public companies, but the SEC is signaling it is encouraged by improvements in recent quarters.
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Tax reform looks likely, but companies advised to hold tight
Under a Trump presidency and a GOP Congress, corporate tax reform is considered inevitable. Tammy Whitehouse asks: Should companies alter tax planning or compliance activities?
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CFOs, controllers struggle with pace of change, poll says
CFOs and controllers are struggling to keep up with the pace of change in financial reporting, having a significant impact on effectiveness, according to a global EY survey. Tammy Whitehouse has the results.
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FASB offers views on lease accounting questions
FASB is getting questions on how to apply the new leasing standard, so the board took the unusual step of offering some informal, high-level feedback. Tammy Whitehouse reports.
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Latest EY inspection shows improvement in error rate
The latest PCAOB inspection report for EY show the firm failed in 29 percent of audits inspected in 2015 to perform a clean audit -- an improvement over 2014 results.
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Transition experts vet four more revenue recognition questions
Companies working to implement the new revenue recognition standard have a little more guidance to consider after FASB’s Transition Resource Group has vetted some lingering uncertainties. Tammy Whitehouse has more.
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Despite heightened risks, auditors limit cyber-questions
Auditors are arming up to be more proactive in the escalating cyber-war, but this year they’re still limiting their focus to financial statement risk. Tammy Whitehouse has more.
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Audit costs take another upward turn in 2015
Rising audit costs of the past few years have not yet leveled off, based on the latest data on audit fees, with companies reporting a 9.16 percent rise in audit costs from 2014 to 2015. Tammy Whitehouse reports.
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New analysis shows audit committees voluntarily say more
Another study confirms audit committees are trying to raise the bar in terms of how much they tell investors about their oversight of the external audit. Tammy Whitehouse has more.
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FASB’s new consolidation guidance lays off indirect interests
FASB’s new consolidation guidance is meant to help companies better determine whether a particular entity should be consolidated to financial statements. More from Tammy Whitehouse.
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New IIA data tallies political pressure on internal auditors
Tammy Whitehouse has the results of a new report from the Internal Audit Foundation that says one in four practitioners around the world face pressure to suppress or change audit findings.
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3 ways audit committees can rein in corporate culture
After another banking scandal, heads are turning to the audit committee for answers. Tammy Whitehouse reports on how audit committees can fix errant corporate culture.
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Revenue recognition laggards outnumbered in new poll
Tammy Whitehouse has the results of a fresh survey on revenue recognition that suggests 75 percent of public companies are still assessing how they will be affected with only 14 months to the effective date.
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FASB simplifies income tax accounting for asset transfers
FASB has issued another simplification to accounting rules, this time targeting income taxes. The rule focuses on asset transfers within related entities. Tammy Whitehouse has more.
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Even with relief, intercompany debt rules still pack a punch
Final tax regulations on intercompany debt provide some relief, but companies still face a heavy uphill climb to achieve the documentation requirements. Tammy Whitehouse explores.