The House is considering a bill that would give the PCAOB a whistleblower system under Sarbanes-Oxley like the one operated by the SEC.
Tammy Whitehouse
Posted inAccounting & Auditing
FASB allows optionality in certain lease receivables
FASB has issued new lease accounting guidance allowing options for how to reflect uncertain operating lease receivables, which is sure to produce reporting differences.
Posted inAccounting & Auditing
FASB seeks change to liabilities, equities guidance
FASB has issued a proposal on the distinction between liabilities and equity meant to cut through complexity known to compromise reporting quality.
Posted inAccounting & Auditing
FASB proposes fix to rules on financial instruments
FASB is proposing amendments to GAAP to clarify interactions among different rules on measuring investments and securities.
Posted inAccounting & Auditing
SEC comments drove changes in revenue reporting, analysis says
SEC comments on early reports under the new revenue recognition standard tended to sway companies to revise their reporting, analysis shows.
Posted inAccounting & Auditing
SEC: Transition from LIBOR has taken on ‘urgency’
Regulators are starting to freak out a little over what will happen in U.S. financial markets in 2021 when a major benchmark interest rate is expected to vanish. The Securities and Exchange Commission recently issued guidance to registrants telling them preparing for new reference rates to underpin trillions of dollars in financial contracts is becoming […]
Posted inAccounting & Auditing
ICFR findings rose in 2018, pending report to say
Adverse auditor attestations on the state of internal controls at public companies made a bit of a comeback in 2018 after a brief retreat, according to a coming report from Audit Analytics.
Posted inAccounting & Auditing
SEC, DOJ charge 3 former Power Solutions executives with fraud
Three former executives of a smaller reporting company are facing multiple fraud charges connected to a $25 million overstatement of revenue.
Posted inAccounting & Auditing
Bricker returns to PwC; Teotia named permanent chief
Wes Bricker, former SEC chief accountant, has rejoined PwC as vice chair and assurance leader for the United States and Mexico.
Posted inAccounting & Auditing
Estimation vs. precision: tension in accounting grows
It’s more than big change prompting major deferrals for pending accounting rules. It’s also about the growing tension between estimation and precision.