All Accounting & Auditing articles – Page 74
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Blog
Auditors armed with new method to audit cyber-risk
Auditors now have a new guide available to them to help examine and report on companies’ efforts to manage their cyber-risk, and the profession is touting their ability to contribute to the effort.
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Blog
PCAOB preps final rule on audit report, proposal on estimates
The PCAOB is preparing to issue a final standard to overhaul the audit report and to propose new rules on auditing accounting estimates and using the work of specialists.
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Blog
Valuation group proposes rules for contingent consideration
A professional valuation group is working on new guidance that would produce formal standards on how to value contingent consideration, a common provision in business combinations.
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Article
Have you vetted fraud risk under new revenue standard?
The risk of fraud in revenue recognition is growing as companies’ sluggish adoption of new rules creates fresh opportunities for would-be perpetrators.
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Tanger names chief accounting officer and controller
Tanger Factory Outlet Centers, a publicly-traded REIT, announced the promotion of Thomas Guerrieri to vice president, chief accounting officer, and controller, effective immediately.
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IASB issues big change in accounting for insurance contracts
The IASB has issued new standard on how to account for insurance contracts, considered among the most significant changes ever made to international accounting rules.
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Assurant names chief accounting officer
Assurant, a global provider of risk management solutions, has appointed Daniel Pacicco as senior vice president, chief accounting officer, and controller, effective June 1. He will report directly to Richard Dziadzio, Assurant’s chief financial officer and treasurer.
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KBR names new chief accounting officer
KBR appointed Raymond Carney as its new vice president and chief accounting officer, effective May 30.
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FASB asks for ideas to make GAAP Taxonomy easier to use
Companies that have struggled with navigating the U.S. GAAP Taxonomy to complete their XBRL filings will want to weigh in on the effort to make it more useable.
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FASB clarifies stock compensation, service agreement accounting
In a pair of updates to accounting standards, the FASB is looking to shore up differences in how companies account for stock compensation and service concession arrangements.
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ArticleTechnical conclusions taking shape in revenue recognition
Technical consensus is starting to gel in certain aspects of the new revenue recognition accounting requirements, but the answers are not black and white.
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FASB addresses lease accounting transition questions
Facing questions about how to transition to the new lease accounting requirements in 2019, FASB recently explained what it had in mind when it issued its guidance.
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IIA guidance digs into big data risks, opportunities
Big data represents both a growing risk and a growing resource for internal auditors, prompting the IIA to offer new guidance to address it and leverage it.
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New revenue rule immaterial? Don't overlook disclosure, SEC says
The SEC is warning companies that say adopting new revenue rules will be immaterial to financials: Be sure that includes consideration of disclosures.
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Article
Survey: Banks not preparing enough for CECL standard
According to a recent survey by RapidRatings and Compliance week, banks are nowhere near ready for FASB’s CECL requirements scheduled to go into effect in 2020.
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Blog
Allstate appoints chief accounting officer
Allstate has appointed Eric Ferren to serve as senior vice president, controller, and chief accounting officer, effective May 14. Ferren will succeed Samuel Pilch, controller and principal accounting officer.
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Blog
Accounting estimate audit risks get uneven scrutiny, study says
Auditors are scrutinizing the risk of management bias in arriving at accounting estimates, but not so much when it comes to the risk of measurement imprecision.
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Blog
Deloitte offers views on lease accounting questions
Deloitte says it’s hearing enough questions about how to apply the new lease accounting rules it decided to publish a question-and-answer paper to articulate its views.
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ArticleCindy Fornelli: The auditor’s CCO
Cindy Fornelli leads the Center for Audit Quality, acting as chief compliance officer and stressing the importance of truly proactive and strategic compliance efforts for audit, rather than a check-the-box mentality.
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Blog
Senators press PCAOB for answers on KPMG audit of Wells Fargo
U.S. Senators are asking how KPMG could know Wells Fargo had fake accounts on the books, but not flag it as relevant to the financial statement audit.