SEC Chairman Jay Clayton has instructed staff to follow up on concerns raised in public comments with respect to auditor independence requirements.
Tammy Whitehouse
Posted inAccounting & Auditing
Banks finalize CECL prep, but others have work to do
Big banks are making progress in preparing for CECL, but non-bank operating companies are likely to face a heavier lift as they approach the fourth quarter.
Posted inAccounting & Auditing
LIBOR report suggests steep uphill climb still ahead
Despite warnings to prepare, financial institutions still face a lot of work and uncertainty around the demise of LIBOR, a new assessment suggests.
Posted inAccounting & Auditing
Lease rule implementation still a slog, poll says
Halfway through the first year reporting under new lease accounting rules, only one-fourth of public companies said their implementations were complete, according to a recent Deloitte poll.
Posted inAccounting & Auditing
Auditors develop practice aid to compare notes on CECL
Auditors are comparing notes on how they will interact with audit committees regarding CECL, developing a practice aid that might also interest preparers.
Posted inAccounting & Auditing
PCAOB sanctions Marcum over auditor independence issues
The PCAOB has settled disciplinary actions with audit firm Marcum, an affiliated firm, and its former auditor independence leader over independence violations.
Posted inAccounting & Auditing
Investors want more from banks on CECL, says FASB member
Investors want more information from leading banks over how financial statements will be affected by the adoption of the new CECL approach to credit losses.
Posted inAccounting & Auditing
FASB offers changes to ease reference rate transition
FASB is proposing guidance intended to ease the potential accounting burden companies expect to face as they navigate reference rate reform.
Posted inAccounting & Auditing
Government watchdog group targets PCAOB performance
The PCAOB is taking heat from a government watchdog group, which says the audit regulator is “doing a feeble job” protecting investors.
Posted inAccounting & Auditing
Migration to new SOX technology picks up pace, report says
Amid persistent cost and compliance challenges with internal controls, the pace of migration toward new accounting technologies appears to be picking up.