FASB Votes to Defer the Effective Dates for Recent Accounting Standards
The FASB voted to defer the effective date for several of its recent accounting standards. The FASB voted to adopt a two-bucket approach to stagger…
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3 Key Audit Challenges Solved by Technology
The Accounting profession continues to face numerous audit challenges. While fast changing technology, staffing shortages, and continued evolution of audit processes are causes, regardless, CPA…
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PCAOB Releases Additional Resources on CAMs
The Public Company Accounting Oversight Board (PCAOB) has released two resource documents informing audit committees and investors about the requirement for auditors to communicate critical…
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AICPA Issues New Other Information and ERISA Reporting Standards
The Auditing Standards Board (ASB) of the AICPA has published two new Statements on Auditing Standards (SAS), SAS 136, Forming an Opinion and Reporting on…
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AICPA Issues New Other Information and ERISA Reporting Standards
The Auditing Standards Board (ASB) of the AICPA has published two new Statements on Auditing Standards (SAS), SAS 136, Forming an Opinion and Reporting on…
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New SEC Commissioner Sworn In
Allison Herren Lee was sworn into office on July 8, 2019 as an SEC Commissioner. Lee was nominated to the SEC by President Donald J.…
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FASB Invitation to Comment Issued
The FASB issues Invitation to Comment (ITC) seeking stakeholder input on the accounting for certain identifiable intangible assets. This includes those acquired in a business combination…
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2019 Commercial Entities Updated
Who’s ready for 2019 Commercial Audits? It’s that time of year again. Check out the updates and enhancements to 2019 Knowledge-Based Audit of Commercial Entities.…
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Successful Peer Reviews – Part 4
When it comes to “delivering quality audits that result in successful peer reviews”, there are strategies that firms should consider. Repeating that statement in all…
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The FASB Proposes Amendments to CECL
The FASB issued a proposed Accounting Standards Update (ASU) that proposes narrow-scope amendments to CECL. Specifically, it addresses items raised by stakeholders in implementing ASU No.…
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