IRS gives partial guidance on revenue recognition
It’s the tax department’s turn buzz over how to recognize revenue for tax purposes—and with good reason after getting some puzzling guidance from the IRS.
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How Hain Celestial improved its revenue recognition practices
The Hain Celestial Group recently settled charges with the Securities and Exchange Commission resulting from weaknesses in its internal controls. Why the food company was not assessed a monetary penalty is where the compliance lessons lie.
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PremiumU.K. financial regulator looks to streamline audit enforcement procedures
Auditors are supposed to keep businesses honest, but how much regulation is the optimum for the auditors – and how onerous and punitive should the enforcement regime be? A new consultation by the U.K. regulator, the Financial Reporting Council, opened on Oct. 1 and has put the vexed question of ...
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ArticlePCAOB’s Christina Ho: How emerging technologies could improve audit quality
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.