Start Planning Now to Implement New Technology
While it may seem counter intuitive, with the additional stress of client demands and time deadlines at this time of year, right now is the…
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AICPA Issues SSARS No. 25 to Align with GAAS and Converge with International Review Standards
The American Institute of CPAs (AICPA) Accounting and Review Services Committee (ARSC) has issued SSARS No. 25, Materiality in a Review of Financial Statements and…
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FASB Proposes ASU on Transparency Disclosures for Gifts-in-Kind to Not-for-Profit Entities
The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (ASU), Not-for-Profit Entities (Topic 958)—Presentation and Disclosures by Not-for-Profit Entities for Contributed…
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Audit Strategy: Transformation vs Optimization
Business as Usual or Unusual Business? When it comes to audit strategy, status quo can be comforting – especially for the risk adverse. However, if…
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FASB Adds SAB Topic No. 119 to Codification Topic 326
The FASB has issued Accounting Standards Update (ASU) No. 2020-02, Financial Instruments—Credit Losses (Topic 326) and Leases (Topic 842): Amendments to SEC Paragraphs Pursuant to…
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GASB Publishes Omnibus 2020
The Governmental Accounting Standards Board (GASB) has issued new Statement No. 92, Omnibus 2020. Statement 92 includes guidance addressing various accounting and financial reporting issues…
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What’s NEW with CCH Axcess™ Knowledge Coach 2020
Knowledge Coach Titles In 2019, Wolters Kluwer introduced CCH Axcess™ Knowledge Coach. The first audit module in the award-winning CCH Axcess™ cloud-based platform, this solution…
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SEC Proposes Amendments to Modernize and Enhance MD&A and Other Disclosures
The SEC proposed for public comment amendments to modernize, simplify, and enhance certain financial disclosure requirements in Regulation S-K. If adopted as proposed, the amendments…
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Bonanno, Savino, Davies & Ganley, P.C. Capitalizes on Digital Transformation with Integrated Expert Solutions
CCH Axcess™ and CCH® ProSystem fx® solutions yield impressive benefits In the next part of its series showcasing future-ready tax and accounting firms that are…
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IESBA Proposes Revisions to Independence Standards
The International Ethics Standards Board for Accountants® (IESBA®) is proposing significant revisions to its independence standards through the publication of two exposure drafts. The exposure…
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