FASB has decided to follow the advice of an advisory group and make some changes to CECL to address implementation issues.
Tammy Whitehouse
Posted inAccounting & Auditing
FASB finalizes rules on collaborative arrangements
The FASB continues to field and answer one-off questions on revenue recognition, with the most recent installments on collaborative arrangements and franchise fees.
Posted inAccounting & Auditing
Even with new technology, auditors face same demands
Whatever changes technology might bring to financial reporting, auditors still face the same auditing standards and expectations from regulators.
Posted inAccounting & Auditing
Third ex-KPMG partner pleads guilty in inspection leak
A third ex-KPMG partner has consented to a guilty plea in connection with charges of fraud and conspiracy in regulatory inspections.
Posted inAccounting & Auditing
PCAOB censures Deloitte Mexico partners in cross-border audits
The PCAOB has disciplined three partners at Deloitte Mexico, citing failures in cross-border audits that affected U.S. opinions.
Posted inAccounting & Auditing
SEC expands probe at GE after $22B impairment charge
The SEC has expanded its investigation into accounting issues at GE and is now looking into a $22 billion impairment charge, the company reported.
Posted inAccounting & Auditing
Study links accounting expertise to misstatement risk
Accounting expertise coupled with high levels of executive compensation can increase the risk of misstatements, according to a new academic study.
Posted inAccounting & Auditing
Banks sound alarm on CECL, calling for delay, study
When the economy starts to sour, CECL will push it faster and further in that direction, say banks calling for a delay and study of the new loan loss rules.
Posted inAccounting & Auditing
FASB edits hedging standard, more changes to come
FASB has finalized a change to the new hedge accounting standard to expand the list of permissible U.S. benchmark interest rates.
Posted inAccounting & Auditing
Changes to PCAOB inspections will begin in 2019
A new approach to audit inspections will begin in 2019, with changes intended to focus on prevention and deterrence, new PCAOB chairman says.
