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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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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AICPA’s Ethics Committee Revises Independence Interpretations
The Professional Ethics Executive Committee (PEEC) of the AICPA has published revisions to two Independence Rule Interpretations (a) “Information System Services and Information Systems,” and “State…
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PCAOB Issues Staff Guidance on Audit Committee Communications Related to Independence
The Public Company Accounting Oversight Board (PCAOB) has published a new staff guidance document, Rule 3526(b) Communications with Audit Committees Concerning Independence. In addition, the…
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FASB Simplifies the Accounting for Goodwill and Certain Identifiable Intangible Assets for NFPs
The FASB issues Accounting Standards Update (ASU) No. 2019-06, Intangibles—Goodwill and Other (Topic 350), Business Combinations (Topic 805), and Not-for-Profit Entities (Topic 958): Extending the Private…
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A Closer Look: SEC Proposal to Re-invent Quarterly Reporting
SEC Proposal to Re-invent Quarterly Reporting The SEC issued a Concept Release in December 2018 focused on interim reporting by US companies (the “Concept Release”.) Concept…
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PCAOB Takes a Deeper Dive on Communication of CAMs
The Public Company Accounting Oversight Board (PCAOB) has published an additional staff guidance document, Implementation of Critical Audit Matters: A Deeper Dive on the Communication…
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IASB Proposes Amendments to Four IFRS Standards
The IASB has published proposed narrow-scope amendments to four IFRS Standards as part of its maintenance and improvements of Standards. Background Annual improvements are limited…
read moreFASB Issues Targeted Transition Relief for Financial Instruments Credit Losses Standard
The FASB has issued Accounting Standards Update (ASU) No. 2019-05, Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief. This new ASU is designed to ease the transition…
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FASB Issues Proposal to Simplify Accounting for Income Taxes
The FASB has issued a proposed Accounting Standards Update (ASU) intended to reduce cost and complexity for the accounting for income taxes. The proposal is…
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