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Accounting & Auditing Update

The "Accounting & Auditing Update" is written by Tammy Whitehouse, a veteran business writer who has been a regular contributor to Compliance Week since 2005. Her work has also appeared in industry journals and periodicals including Journal of Business Strategy, Strategy & Leadership, Compensation & Benefits Review, Inc, Buyside, and myriad others. Whitehouse welcomes questions and comments from readers; she can be reached via e-mail at twhitehouse@complianceweek.com.
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Accounting & Auditing Update Blog
IFAC calls on G-20 to support international standards
Tammy Whitehouse | August 26, 2016
The International Federation of Accountants is pitching the G-20 to make a plug for international accounting and auditing standards when they meet in September. Tammy Whitehouse reports.
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Accounting & Auditing Update Blog
Taxonomy changes focus on helping consumers interpret data
Tammy Whitehouse | September 6, 2016
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.
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Accounting & Auditing Update Blog
FASB plans pause before digging into big new rules
Tammy Whitehouse | December 6, 2016
After issuing some huge changes to accounting standards, FASB will keep the current work load or corporate accounting offices in mind before taking on big new projects.
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Accounting & Auditing Update Blog
Early Adoption of ASC 606: first glance
Audit Analytics | December 22, 2016
Audit Analytics discusses early adoption of ASC 606.
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Accounting & Auditing Update Blog
Going concern audit rules updated for private firms
Tammy Whitehouse | February 24, 2017
Private company audits soon will reflect new standards around the going concern call, but public companies will be getting their new standards no time soon. Tammy Whitehouse reports.
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Accounting & Auditing Update Blog
FASB warns Codification to undergo reconstruction
Tammy Whitehouse | May 30, 2017
The FASB is advising accountants to sit tight through some reconstructive work in the coming months in the online Accounting Standards Codification.
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Accounting & Auditing Update Blog
PCAOB floats new rules for auditing estimates, specialists’ work
Tammy Whitehouse | June 4, 2017
Audit regulators have proposed two new standards to beef up requirements for auditors as they scrutinize accounting estimates and the work of specialists.
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Accounting & Auditing Update Blog
Doubt creeps in on ability to adopt lease rules on time
Tammy Whitehouse | June 28, 2017
Another new poll says public companies are starting to freak out over how they’ll meet the 2019 effective date to adopt new lease accounting rules.
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Accounting & Auditing Update Blog
Newest poll gives more evidence of heartburn over leasing
Tammy Whitehouse | August 1, 2017
Half way from publication to adoption of new lease accounting rules, C-suite executives are worried about whether implementation will get done on time.
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Accounting & Auditing Update Blog
SEC may relieve certain entities from revenue, lease adoption dates
Tammy Whitehouse | August 4, 2017
Big 4 firms say the SEC won’t object if certain “public business entities” adopt new revenue and leasing rules under private company effective dates.
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Accounting & Auditing Update Blog
Could revenue rule chill IPOs in 2018? Poll suggests maybe
Tammy Whitehouse | September 19, 2017
A Deloitte poll suggests new revenue recognition accounting requirements taking effect next year may put a chill on initial public offerings.
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Accounting & Auditing Update Blog
FASB proposes little fixes to big rules on financial instruments, leases
Tammy Whitehouse | October 3, 2017
FASB is proposing new clarifications to its previously issued standards on the recognition and measurement of financial instruments and on leases.
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Accounting & Auditing Update Blog
Surveys suggest uncertainty over compliance with CECL
Tammy Whitehouse | October 11, 2017
Recent surveys suggest continued uncertainty in the financial services sector over how to project credit losses in compliance with a new accounting rule.
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Accounting & Auditing Update Blog
Companies make progress, face more work on revenue
Tammy Whitehouse | November 28, 2017
Third-quarter filings suggest companies are making progress implementing new revenue rules, but still have plenty of work to do in the fourth quarter.
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Accounting & Auditing Update Blog
FASB agrees to simplifications to ease into new lease rule
Tammy Whitehouse | December 4, 2017
The lease accounting standard is about to get easier to adopt when it takes effect in 2019, but that doesn’t mean companies should slow their preparations.
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Accounting & Auditing Update Blog
SEC says it will respect well-reasoned revenue judgments
Tammy Whitehouse | December 5, 2017
The SEC has signaled it doesn’t plan to pick apart the many detailed judgments they must exercise as they follow new revenue recognition rules beginning next year.
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Accounting & Auditing Update Blog
FASB addresses feedback to lease, hedge proposals
Tammy Whitehouse | April 3, 2018
FASB has reached some preliminary decisions about how it will revise rules on lease accounting and hedging to address implementation questions.
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Accounting & Auditing Update Blog
Going concern opinions drop in 2016, study shows
Tammy Whitehouse | April 17, 2018
Corporate filings flagging doubt over a company’s ability to continue as a going concern reached a low in 2016, according to the newest research.
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Accounting & Auditing Update Blog
Newest poll shows lag in lease accounting adoption
Tammy Whitehouse | May 30, 2018
With only six months to the effective date of a new lease accounting rule, more than half of companies have not started to prepare, according to a new survey.
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Accounting & Auditing Update Blog
Companies reflect pain points over accounting change
Tammy Whitehouse | June 8, 2018
Virtually all public companies are feeling some pain over accounting change occurring in their organizations the past few years, according to a recent poll.
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Accounting & Auditing Update Blog
SAB 74 disclosures still lag, PwC analysis shows
Tammy Whitehouse | June 13, 2018
Investors are not getting much warning about assets and liabilities soon to hit corporate balance sheets as companies prepare to adopt new lease accounting rules.
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Accounting & Auditing Update Blog
CECL readiness spans the full spectrum, new poll shows
Tammy Whitehouse | July 20, 2018
Banks appear all over the spectrum in terms of their readiness for CECL, with equal numbers implementing the new model or still in the early stages, a new poll says.
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Accounting & Auditing Update Blog
Global accountants get new ethics rule on incentive payments
Tammy Whitehouse | July 25, 2018
Accountants globally have new rules to follow around offering or accepting inducements, and they’re a little more explicitly stated than those for U.S. accountants.
Displaying 23 results