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“For tracking litigation, enforcement, and regulatory developments, Compliance Week
should be your prime source.”- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Today’s Revenue Rule Surprise: Non-Financial Assets
Image: Companies are starting to awaken to yet another wrinkle in the new revenue recognition standard: how it will affect the sale of non-financial assets, such as when you sell off an old property or intangible asset. “If you’re not in the real estate business, you don’t think of the ...
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Revenue Standard Update: Companies Still Ducking It
Image: Corporate finance departments are playing the silent type right now about how they plan to implement the new revenue recognition standard—which is not quite the amount of disclosure the SEC and others want to see in year-end filings. Those businesses not doing or saying much could be in for ...
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News BriefCPSC fines Google-owned Fitbit $12M for failing to report smartwatch burn hazard
The U.S. Consumer Product Safety Commission ordered Google-owned Fitbit to pay more than $12 million and comply with certain undertakings to settle allegations the company knowingly failed to report a serious burning hazard with its Ionic smartwatches.
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News BriefFRC discloses probe of KPMG over 2022 audit of gambling company Entain
The U.K. Financial Reporting Council disclosed an investigation into KPMG’s audit of international sports betting and gambling company Entain Group.