All Accounting & Auditing articles – Page 56
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Blog
IRS, Treasury float rules on foreign earnings under tax reform
The IRS and Treasury have issued proposed regulations on how they envision implementing tax reform rules around repatriation of foreign earnings.
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Blog
Angst over lease accounting grows, new polls say
A pair of new poll results suggest anxiety is growing at public companies that have five months remaining until new lease accounting rules take effect.
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Blog
FASB approves huge simplification to lease rules
FASB has finalized an enormous simplification of the pending new lease accounting standard, permitting companies to forego historic presentations.
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Article
Non-GAAP reporting smooths currency-driven volatility
As trade and tariff wars wage on, companies use non-GAAP accounting to try to explain the resulting currency volatility in reported financial results.
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Blog
GM chief accounting officer leaving for GE
Thomas Timko, chief accounting officer at General Motors, will be leaving GM to join General Electric in the same role.
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Audit leaders issue statement to new audit recruits
As a new crop of college graduates joins the audit profession, U.S. audit leaders issued a joint statement to sell them on the viability of their career path.
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Global accountants get new ethics rule on incentive payments
Accountants globally have new rules to follow around offering or accepting inducements, and they’re a little more explicitly stated than those for U.S. accountants.
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Bank of England probe latest blow to KPMG’s reputation
Accounting firm KPMG has taken some serious reputational hits over the past several months ... and they just keep on coming.
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CAQ: Control deficiencies not CAMs, but could be tied to one
A significant deficiency in internal control over financial reporting will not automatically constitute a critical audit matter that auditors will have to disclose under a new auditing standard, but it could suggest auditors will disclose a CAM related to the underlying accounting, said the Center for Audit Quality.
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Blog
CECL readiness spans the full spectrum, new poll shows
Banks appear all over the spectrum in terms of their readiness for CECL, with equal numbers implementing the new model or still in the early stages, a new poll says.
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Article
Revenue 2.0: Work continues to adapt to new rules
Even after calendar-yer companies have filed their first-quarter reports reflecting a new way to recognize revenue, work continues to adapt to the new rules.
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Blog
MiMedx makes leadership changes amid accounting probe
MiMedx Group, a developer and marketer of regenerative and therapeutic biologics, has appointed Mark Graves as chief compliance officer. The company also is conducting a formal search to fill the newly established positions of chief accounting officer and internal auditor, amid an ongoing investigation into accounting violations.
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Blog
FASB approves tweaks to lease accounting standard
The Financial Accounting Standards Board has finalized a number of improvements to its new guidance on lease accounting, which public companies are working to adopt in 2019.
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Companies plan to automate internal controls, poll says
Companies are migrating toward automating their internal control over financial reporting, according to a recent survey by Financial Executives Research Foundation.
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Article
Big 4 fill gap in GAAP on accounting for digital currency
With no explicit guidance in GAAP on how to account for business done in digital currency, Big 4 firms are starting to arrive at conclusions of their own.
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Blog
New standard triples revenue disclosures, Deloitte finds
Public companies are roughly tripling their revenue-related disclosures to comply with the new revenue recognition standard, according to a new analysis.
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Blog
IOSCO proposal seeks to set practices for audit committees
International regulators are developing a broad proposal to call for improvements in audit committee oversight of external auditors.
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Blog
PCAOB prepares new proposals on estimates, specialists
The PCAOB is preparing to issue new proposals in the fourth quarter on auditing accounting estimates and using the work of specialists.
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Article
SEC requires shift to integrated XBRL filing
A new requirement for companies to adopt some new XBRL technology will produce different levels of compliance burden depending on how companies are complying now.
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Blog
Companies have new rules on accounting for contributions
Companies have some new guidance on how to account for contributions they receive and make that are not clearly governed by revenue recognition rules.