To prepare for Brexit, companies need to consider how they might be exposed to new risks, assuring they are reflected in accounting and financial reporting. Tammy Whitehouse analyzes a new PwC report that discusses what near- and long-term issues companies can expect.
Tammy Whitehouse
Posted inAccounting & Auditing
CAQ: Audit’s role in cyber-security exams
Public company auditors are suggesting that companies voluntarily submit to an independent cyber-security examination separate from the existing financial statement audit. Tammy Whitehouse explores a new process for examining and reporting on a company’s cyber-security risk management.
Posted inAccounting & Auditing
CFA Institute: Use data structuring, like XBRL, end to end
Analysts are calling on public companies and regulators to reduce error and improve utility by using structured data like XBRL throughout financial reporting. Tammy Whitehouse reports.
Posted inAccounting & Auditing
Audit committees: Here’s your wake-up call on auditor independence
Recent legal spats should alert public companies that they need to decide for themselves whether their audit is being delivered by a truly independent auditor. Tammy Whitehouse has more.
Posted inAccounting & Auditing
FASB proposes new approach to hedge accounting
After finishing rules on the recognition and measurement of financial instruments and on loan losses, FASB is turning its attention back to hedge accounting with a new proposal. Tammy Whitehouse reports.
Posted inAccounting & Auditing
CAMs in new audit report would protect auditors, study says
If the PCAOB requires CAMs, or disclosures of critical audit matters, it will raise doubt in financial statements while protecting auditors from litigation, a new study says.
Posted inAccounting & Auditing
Companies make early progress in adopting revenue recognition
As summer slips away, it appears many companies used the time wisely to make some progress in adopting the new revenue recognition accounting standard. Tammy Whitehouse has more.
Posted inAccounting & Auditing
Taxonomy changes focus on helping consumers interpret data
FASB’s proposed 2017 U.S. GAAP Financial Reporting Taxonomy contains some changes that are meant to address concerns of users of XBRL-tagged financial statement data. Tammy Whitehouse has more.
Posted inAccounting & Auditing
2015 audit inspections show some gains, some blown opinions
The PCAOB’s earliest 2015 inspection results show some reductions in deficient audits, but also increases in restatements and withdrawn opinions. More from Tammy Whitehouse.
Posted inAccounting & Auditing
PCAOB issues 2014 report on Grant Thornton, showing gains
The PCAOB has published its last 2014 inspection report on the eight largest firms, showing gains at Grant Thornton from a year prior and slight improvement across major firms. Tammy Whitehouse reports.
