After reviewing implementation activity, the PCAOB is advising auditors to think a little more broadly about how they identify and describe CAMs.
Tammy Whitehouse
Posted inAccounting & Auditing
PCAOB stokes audit committees on inspection engagement
Audit committee chairs at companies whose audits are selected for regulatory inspection might have an opportunity to interact with PCAOB inspectors firsthand.
Posted inAccounting & Auditing
Mind controls, disclosures on leases, Big Four firms advise
As companies face first-quarter reporting under lease accounting, Big Four firms are offering some last-minute pointers about controls and disclosures.
Posted inAccounting & Auditing
Banks move forward with CECL, expecting no relief
Despite calls for delay or reconsideration of the pending new model for recognizing loan losses, entities are implementing as if nothing will change.
Posted inAccounting & Auditing
Companies tie loose ends on leasing, prepare ongoing accounting
Companies generally are expected to be ready to report under new lease accounting rules but still face some added work to prepare for ongoing compliance.
Posted inAccounting & Auditing
SEC’s Peirce supports reconsideration of SOX 404(b)
As internal control heartburn persists for many public companies, at least one member of the SEC would welcome changes to the Sarbanes-Oxley Act.
Posted inAccounting & Auditing
Former KPMG, PCAOB leaders convicted on fraud counts
A former KPMG audit leader and a former inspections leader at the PCAOB have been convicted of wire fraud in a scheme to subvert the inspections process.
Posted inAccounting & Auditing
Deloitte wins, other Big Four firms lose audit clients in 2018
Deloitte led Big Four firms in picking up new audit engagements in 2018, while KPMG lost the largest number overall, according to the latest analysis.
Posted inAccounting & Auditing
Internal audit still vexed by data, third-party risks
Internal audit is making strides in steering its focus and resources toward companies’ emerging risks—but there’s still some work to be done, the IIA says.
Posted inAccounting & Auditing
Leases 2.0: Is your company ready for ongoing compliance?
With leases about to hit corporate balance sheets, companies need to shift gears to focus on the ongoing implications of new lease accounting rules.
