AICPA Adds Industry Guidance to Revenue Recognition Guide
The AICPA has added new industry related content to its Audit and Accounting Guide (AAG), Revenue Recognition (Updated as of January 1, 2018). The new…
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FASB Simplifies Adoption of New Leases Standard for Certain Land Easements
The Financial Accounting Standards Board (FASB) has issued Accounting Standards Update (ASU) No. 2018-01, Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic…
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FASB Issues Proposed Guidance on the Tax Cuts and Jobs Act
The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (ASU) for public comment that is intended to help organizations reclassify certain…
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FASB Issues Staff Q&A on Accounting for The Effects of The Tax Cuts and Jobs Act
The Financial Accounting Standards Board (FASB) staff has issued a Staff Q&A document on whether private companies and not-for-profit organizations can apply U.S. Securities and…
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FASB to Issue Final and Proposed Transition Guidance on Leases
The FASB has decided to reduce costs and ease the implementation burden of the Leases standard for preparers by issuing a final Accounting Standard Update…
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AICPA Proposes New Auditing Standards
The AICPA’s Auditing Standards Board (ASB) has issued exposure drafts (EDs) of new Proposed Statements on Auditing Standards (SASs) and proposed amendments to other SASs.…
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SEC Approves Changes to the Auditor’s Report
Auditor’s Report Changes The SEC unanimously approved a PCAOB auditing standard that requires significant enhancements to certain public company auditor’s reports, including the communication of…
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CAQ Issues Audit Alerts on Risk Areas for 2017 Audit Cycle
The Center for Audit Quality (CAQ) has published two audit alerts for use by public company auditing firms in addressing potential risks during the upcoming…
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SEC Proposes Amendments to Regulation S-K
The Securities and Exchange Commission (SEC) unanimously (3-0) approved a proposal for public comment to modernize and simplify certain disclosure requirements in Regulation S-K and…
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SEC to Consider Proposing Amendments to Modernize Regulation S-K
The SEC has scheduled an open meeting for Wednesday, October 11, 2017, to consider whether to: Propose amendments based on the recommendations in the SEC…
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