All Impairment articles
-
Article
FRC expands probe of PwC’s Babcock International audits
The U.K. Financial Reporting Council has expanded its investigation into PwC over its statutory audits of British defense contractor Babcock International Group to include the fiscal years ended March 31, 2019, and March 31, 2020.
-
Article
What companies/auditors need to know for 2021 year-end audits
The continued effects of the pandemic, along with the implementation of new accounting standards, have companies and their auditors confronting substantial change in year-end audits.
-
Article
Study: How COVID-19 has affected public company financials
Disruptions to normal operations and shifts in work environments as a result of the COVID-19 pandemic caused an increase in late filings and changes to controls, according to new research from Audit Analytics.
-
Article
Things to consider for companies preparing for 2020 year-end audits
It’s no surprise that in a year like no other, there are a number of factors to consider for year-end audits that you might not be used to thinking about.
-
Article
Hot topics for 2019 year-end audits
As auditors get ready for year-end audits, internal controls and new accounting standards are on their radar.
-
Blog
Kraft Heinz discloses probe, takes $15.4B impairment charge
Following a string of accounting and reporting problems, Kraft Heinz Co. disclosed it is under investigation by the SEC and reported a $15.4 billion impairment charge.
-
Blog
Goodwill impairments are on the rise, latest study says
Goodwill impairments are rising on corporate balance sheets, according to the latest analysis from advisory firm Duff & Phelps, suggesting impairment will be a source of heartburn in year-end reporting.
-
Blog
GE audit committee considers replacing KPMG as auditor
GE’s audit committee has initiated a tender process to consider replacing KPMG as its external auditor.
-
Blog
Former Autonomy execs face fraud charges in HP deal
A federal grand jury has delivered indictments against former Autonomy executives in connection with HP’s failed acquisition of the U.K. technology business.
-
Blog
Rite Aid shareholders vote against Deloitte as auditor
A sizable chunk of Rite Aid’s shareholders has told the board it would like to dismiss Deloitte and hire a new audit firm.
-
Article
Tax rules, market changes may stretch goodwill testing
Big changes in market conditions and tax rules could drive some added rigor into the annual year-end test of goodwill sitting on corporate balance sheets.
-
Blog
SEC expands probe at GE after $22B impairment charge
The SEC has expanded its investigation into accounting issues at GE and is now looking into a $22 billion impairment charge, the company reported.
-
Blog
Big changes in store for goodwill testing, report says
Big changes in tax and accounting rules should produce big changes in goodwill impairment testing this year, according to a new report from Mercer.
-
Blog
FASB seeks preparer input on segment reporting ideas
To help figure out what to do to improve segment reporting, FASB is looking for public companies to participate in a study.
-
Article
Big 4 fill gap in GAAP on accounting for digital currency
With no explicit guidance in GAAP on how to account for business done in digital currency, Big 4 firms are starting to arrive at conclusions of their own.
-
Blog
Migration to simpler goodwill test will be slow, data says
FASB may have given companies a simpler way to determine whether goodwill must be marked down, but not all public companies are rushing to adopt it.
-
Blog
Half of Fortune 500 still non-committal on new revenue rules
More than one-fourth of Fortune 500 filers still had not figured out how they will be affected by new revenue recognition rules as of April and May.
-
Blog
FASB kills burdensome goodwill impairment test
FASB has finalized its action to eliminate “step two” from goodwill impairment testing, relieving public companies of the costly, complex fair-value exercise. More from Tammy Whitehouse.
-
Blog
Accountants tally Brexit effect in financial statements
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.
-
Blog
FASB proposes easier way to measure goodwill impairment
FASB is proposing a new, simpler way to measure any reduction in the value of goodwill that companies should recognize on the balance sheet. Under the proposal, companies would perform their annual or interim goodwill impairment testing as they do under current guidance. Tammy Whitehouse has more.