Tammy Whitehouse

A pending new requirement for how to reflect loan losses in financial statements is beginning to affect how banks do business, according to a recent poll.

Companies are telling the SEC they are still having trouble getting IT systems in place that can put leases on corporate balance sheets as required in 2019.

As guidance changes and regulators continue to hammer on internal controls, auditors are starting to dig deeper into reports provided by outsourced service providers.

Now that companies are following new accounting methods to reflect revenue in financial statements, the Internal Revenue Service is offering new guidance on reflecting income in tax filings.

New accounting rules on how to reflect financial instruments in financial statements are beginning to produce predicted earnings volatility, as recently bemoaned by America’s celebrity investor, Warren Buffett.

Securities regulators globally are troubled enough by the state of audit quality that they are developing a white paper to promote better audit committee oversight.

The SEC is looking to dial back strict requirements on auditors that have made it difficult for Big 4 firms to assert their independence on certain big engagements.

Lease accounting is the next big accounting change on deck, and companies should be prepared to give investors plenty of advance notice on what to expect.

FASB has proposed an update to accounting standards to make some targeted improvements to the guidance on accounting for collaborative arrangements.