Newsletters

Audits Newsletter

  • Are you prepared for the new revenue recognition rules? September 8, 2016 This May marks the second anniversary of the publication of the landmark revenue recognition standard. But U.S. companies and their auditors have a lot of work to do before it ...
  • How should the SEC define “accredited investors”? September 8, 2016 Investor groups and private businesses are at odds over who can invest in unregistered offerings. A recent report has stoked the fire, as the Securities and Exchange Commission (SEC) explores ...
  • FASB launches its goodwill simplification project for public companies September 8, 2016 On May 12, the Financial Accounting Standards Board (FASB) issued a proposal to simplify the measurement of goodwill impairments by removing the current requirement for measuring them. Here’s more on ...
  • FASB defers controversial credit loss standard September 8, 2016 The Financial Accounting Standards Board (FASB) has approved publication of its final standard for writing down bad loans and securities. It’s expected to be finalized by the end of June. ...
  • When will the FASB issue its proposal on income tax disclosures? September 8, 2016 The Financial Accounting Standards Board (FASB) recently decided to start drafting its long-awaited proposal on income tax disclosures. Despite the board’s general efforts to streamline the disclosure requirements under U.S. ...
  • AICPA issues clarified attestation standard September 8, 2016 The Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA) recently issued its attestation guidance in a new, clarified format. Here are more details on what’s ...
  • Redefining “small” for public companies September 8, 2016 Do you feel overwhelmed by the regulatory red tape that comes with being publicly traded? Relief may be in the works for some companies. The Securities and Exchange Commission (SEC) ...
  • FASB proposes changes to VIE guidance September 8, 2016 In the wake of Enron and other scandals involving off-balance-sheet items, variable interest entities (VIEs) have earned a bad reputation as a tool that may be used by unscrupulous owners ...
  • Revenue recognition standard: Ready, set, implement September 8, 2016 The new-and-improved revenue recognition rules go live in 2018 for calendar-year public companies. But many organizations have taken a wait-and-see approach, patiently holding out until the AICPA’s Financial Reporting Executive ...
  • How auditors evaluate the going concern assumption September 8, 2016 The AICPA’s Auditing Standards Board (ASB) recently issued an exposure draft that would amend the guidance for how an auditor evaluates a company’s financial viability. The proposal deals with the ...