Newsletters

Audits Newsletter

  • How Will the New Accounting and Tax Rules Affect Your Earnings? October 11, 2018 The Tax Cuts and Jobs Act (TCJA) lowered corporate income taxes overall and established new categories for foreign income subject to taxation. But the fine print also contains a narrow ...
  • Conceptual Framework: Clarifying the Disclosure Rules October 11, 2018 The disclosure requirements under U.S. Generally Accepted Accounting Principles (GAAP) have gotten a bad rap for being overly burdensome and containing too much boilerplate language. In recent years, the Financial ...
  • Why Auditors Require Face-to Face Meetings to Assess Fraud Risks October 11, 2018 Auditing standards require auditors to identify and assess the risks of material misstatement due to fraud and to determine overall and specific responses to those risks. Here’s what auditors look ...
  • Have You Started Implementing the New Lease Standard? September 10, 2018 Large public companies that have already implemented the new lease standard are reporting that it takes much more legwork than they’d anticipated. The Financial Accounting Standards Board (FASB) recently approved ...
  • Reporting for Business Segments September 10, 2018 The Financial Accounting Standards Board (FASB) is looking for public companies to participate in its study about the prospects of improving the guidance for aggregating business segments and the reportable ...
  • Loan Losses: It’s Time to Sync the FASB and SEC Guidance September 10, 2018 In August, Securities and Exchange Commission (SEC) officials announced plans to update the interpretive guidance for estimating loan loss allowances to reflect the updated credit loss standard. The accounting standard ...
  • FASB Simplifies Accounting Rules for Stock Compensation August 9, 2018 The Financial Accounting Standards Board (FASB) has expanded the scope of its stock compensation guidance to include share-based payments to nonemployees for goods and services. The amendment to U.S. Generally ...
  • SEC Proposes Changes to the Whistleblower Program August 8, 2018 The Securities and Exchange Commission (SEC) is proposing amendments to its guidelines for reviewing whistleblower claims and handing out awards to people who report wrongdoing. Here’s an overview of the ...
  • Identifying Cyber-Risks in an Audit August 8, 2018 As the frequency and severity of cyber-attacks have increased, data security should be a critical part of the audit risk assessment. The Public Company Accounting Oversight Board (PCAOB) made cyber-security ...
  • Are You Ready for the New Credit Losses Standard? June 27, 2018 The new credit losses standard will require banks and other creditors to recognize losses on bad loans earlier than under current U.S. Generally Accepted Accounting Principles (GAAP). It goes into ...