FASB finalizes standard delays, including CECL
By 
Kyle Brasseur2019-11-15T18:09:00
The Financial Accounting Standards Board has finalized long anticipated delays in effective dates for several accounting standards, including the controversial rule on credit losses.
Related articles
-
ArticleFASB proposes delay to long-duration insurance standard
The Financial Accounting Standards Board proposed a one year delay to its standard on accounting for long-duration contracts at insurance companies as a result of the ongoing coronavirus pandemic.
-
ArticleCECL delayed amid U.S. government’s coronavirus response
FASB’s controversial standard on credit losses was dealt two significant blows Friday as the U.S. government scrambles to respond to the financial impact of the escalating coronavirus pandemic.
-
ArticleCoronavirus pandemic elicits opposing views on CECL, TDRs
Two regulatory chairs are battling over whether a delay is needed for financial institutions to implement the updated credit loss standard; also expressed are opposing views on how loan modifications should be viewed in terms of troubled debt restructurings.
More from Accounting & Auditing
-
PremiumU.K. financial regulator looks to streamline audit enforcement procedures
Auditors are supposed to keep businesses honest, but how much regulation is the optimum for the auditors – and how onerous and punitive should the enforcement regime be? A new consultation by the U.K. regulator, the Financial Reporting Council, opened on Oct. 1 and has put the vexed question of ...
-
ArticlePCAOB’s Christina Ho: How emerging technologies could improve audit quality
Emerging technologies, like artificial intelligence (AI) and advanced data analytics, can improve audit quality in significant ways. As the regulatory overseer of public-company audits, the Public Company Accounting Oversight Board (PCAOB) has a critical role to play by ensuring that its audit standards evolve as the audit profession evolves.
-
News BriefPCAOB chair Williams latest independent official pushed out by Trump
Continuing a Trump administration practice of firing independent regulators, the head of the Public Accounting Oversight Board has been sent packing.