FASB Proposes Changes to Pension Accounting, Disclosures
For companies that still carry defined benefit pension plans, FASB is proposing an update to accounting standards to require companies to separate the service cost from other components of the net benefit cost for purposes of presenting it in financial statements. The proposal outlines specific guidance on how to break ...
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Emerging technologies, like artificial intelligence (AI) and advanced data analytics, can improve audit quality in significant ways. As the regulatory overseer of public-company audits, the Public Company Accounting Oversight Board (PCAOB) has a critical role to play by ensuring that its audit standards evolve as the audit profession evolves.