All articles by Tammy Whitehouse – Page 33
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Blog
Accountants tally Brexit effect in financial statements
To prepare for Brexit, companies need to consider how they might be exposed to new risks, assuring they are reflected in accounting and financial reporting. Tammy Whitehouse analyzes a new PwC report that discusses what near- and long-term issues companies can expect.
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BlogCAQ: Audit’s role in cyber-security exams
Public company auditors are suggesting that companies voluntarily submit to an independent cyber-security examination separate from the existing financial statement audit. Tammy Whitehouse explores a new process for examining and reporting on a company’s cyber-security risk management.
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CFA Institute: Use data structuring, like XBRL, end to end
Analysts are calling on public companies and regulators to reduce error and improve utility by using structured data like XBRL throughout financial reporting. Tammy Whitehouse reports.
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Audit committees: Here’s your wake-up call on auditor independence
Recent legal spats should alert public companies that they need to decide for themselves whether their audit is being delivered by a truly independent auditor. Tammy Whitehouse has more.
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FASB proposes new approach to hedge accounting
After finishing rules on the recognition and measurement of financial instruments and on loan losses, FASB is turning its attention back to hedge accounting with a new proposal. Tammy Whitehouse reports.
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CAMs in new audit report would protect auditors, study says
If the PCAOB requires CAMs, or disclosures of critical audit matters, it will raise doubt in financial statements while protecting auditors from litigation, a new study says.
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Companies make early progress in adopting revenue recognition
As summer slips away, it appears many companies used the time wisely to make some progress in adopting the new revenue recognition accounting standard. Tammy Whitehouse has more.
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Taxonomy changes focus on helping consumers interpret data
FASB’s proposed 2017 U.S. GAAP Financial Reporting Taxonomy contains some changes that are meant to address concerns of users of XBRL-tagged financial statement data. Tammy Whitehouse has more.
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2015 audit inspections show some gains, some blown opinions
The PCAOB’s earliest 2015 inspection results show some reductions in deficient audits, but also increases in restatements and withdrawn opinions. More from Tammy Whitehouse.
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PCAOB issues 2014 report on Grant Thornton, showing gains
The PCAOB has published its last 2014 inspection report on the eight largest firms, showing gains at Grant Thornton from a year prior and slight improvement across major firms. Tammy Whitehouse reports.
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Global regulatory onslaught zeroes in on intercompany accounting
New risks are emerging in intercompany accounting as regulators worldwide sharpen their focus on cross-border transactions among related entities. Read more from Tammy Whitehouse.
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Companies get new rules to govern cash flow classification
FASB has approved a new Accounting Standards Update meant to clear up inconsistencies in how companies classify cash payments and receipts on the cash flow statement. Tammy Whitehouse has more.
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Will new lease accounting lead to less leasing?
Accounting experts are beginning to discuss whether companies might change their leasing strategies when they are required to add leases to balance sheets. Tammy Whitehouse reports.
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IFAC calls on G-20 to support international standards
The International Federation of Accountants is pitching the G-20 to make a plug for international accounting and auditing standards when they meet in September. Tammy Whitehouse reports.
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Congress presses Treasury for relief on Section 385 proposal
Ranking Republicans are pressing the U.S. Treasury to rework its fast-tracked, inversion-attacking proposal that would assign debt treatment to common corporate transactions. Tammy Whitehouse has more.
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Article
As SOX costs persist, companies automate more controls
To cope with cost increases and ongoing audit demands, companies are turning to technology to automate more of their SOX internal control. Tammy Whitehouse explores further.
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ArticleAlison Taylor: A just and sustainable world
Alison Taylor is passionate about helping organizations understand how they can improve their ethical, governance, compliance, and operational existence to create organizations that aren’t just good at being better, but are also better at doing good.
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Intercompany accounting woes tallied in new poll
Only a small fraction of companies have strong intercompany accounting, but an onslaught of new tax regulations is giving new reason to get it under control. Tammy Whitehouse has more.
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Audit inspections show some gains in internal control
The PCAOB is encouraged by improvements it sees in audit inspections in internal control, but the agency is still troubled by the nature of the problems it identifies. Tammy Whitehouse reports.
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Service organizations aren't sure of their assurance to third parties, poll suggests
A Deloitte poll of 2,700 participants says 17 percent believe the amount of requests for assurance reports or compliance questionnaires are too numerous to count. Tammy Whitehouse reports.