Absent a strong audit committee, management can get an upper hand over auditors when it releases unaudited earnings results to the market, a new study says.
Tammy Whitehouse
Posted inAccounting & Auditing
Restatements declined with adjustments, analysis shows
As restatements numbers have fallen in recent years, so too have out-of-period adjustments, according to a recent analysis by Audit Analytics.
Posted inAccounting & Auditing
EY elects new global chairman and CEO
EY has elected Carmine Di Sibio as its new global chairman and CEO to succeed Mark Weinberger when he departs July 1, 2019.
Posted inAccounting & Auditing
AICPA develops new benefit plan auditing standards
With new professional standards soon to be finalized, auditors are working on a plan to improve the quality of employee benefit plan audits.
Posted inAccounting & Auditing
Treasury, IRS issue proposed regulations on BEAT
The U.S. Treasury and the Internal Revenue Service have issued proposed regulations on the base erosion and anti-abuse tax established under the Tax Cuts and Jobs Act.
Posted inAccounting & Auditing
LIBOR death knell tolls compliance, accounting issues
The slow death of a critical benchmark interest rate will produce a series of compliance headaches for companies stretching over the next few years.
Posted inAccounting & Auditing
FASB issues Q&A on CECL method, sets roundtable date
To answer CECL implementation questions, FASB issued a Q&A focusing on the weight average remaining maturity, or WARM, method some entities are exploring.
Posted inAccounting & Auditing
SEC fines company over non-GAAP prominence issue
Still on its soap box over non-GAAP reporting, the SEC issued an enforcement action against home security company ADT focused on problems with prominence.
Posted inAccounting & Auditing
Comment letters show SEC forced restatement on ASC 606
After a 15-part comment letter exchange with the SEC over its compliance with new revenue recognition rules, Kingsway Financial Services opted to restate.
Posted inAccounting & Auditing
PCAOB report gives Deloitte its lowest deficiency rate
Deloitte & Touche’s recently published 2017 audit inspection report reflects the lowest deficiency rate the firm has ever earned.
