Accounting & Auditing

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Ex-PCAOB risk officer files lawsuit alleging harassment, discrimination


The former chief risk officer of the PCAOB says she was subjected to a campaign of harassment and discrimination before she was unlawfully fired last year.

New York Capitol

New York law provides LIBOR fallbacks as rate nears end


A new law in New York provides contracts that reference LIBOR with a fallback provision and safe harbor once the benchmark interest rate permanently ceases to be published at the end of the year.

Statistic analysis

Accounting considerations for companies merging with SPACs


The Securities and Exchange Commission recently reinforced its focus on the importance of corporate governance and financial reporting by special purpose acquisition companies (SPACs).


IIA survey: COVID-19 impact on internal audit smaller than expected


The impact of the coronavirus pandemic on internal audit was not nearly as severe as it was for organizations overall, states a new report from the Institute of Internal Auditors.

Accounting fraud

How might U.K. mandate for audit to find fraud work in practice?


Experts weigh in on the hurdles to be overcome and clarifications needed if U.K. auditors are going to be mandated to detect and prevent fraud as spelled out in new proposals.

Financial reporting

Study: Financial services leads way in COVID-related CAMs


More than a quarter of companies citing COVID-19 in their critical audit matters filed with the PCAOB are part of the financial services industry, according to research from Audit Analytics.


​FASB finalizes goodwill triggering event standard update


The Financial Accounting Standards Board announced the adoption of an accounting standards update that provides an alternative for goodwill triggering event evaluation.

Federal Reserve

Enforcement an option as LIBOR deadline nears


Examiners from the Federal Reserve are being encouraged to consider supervisory actions against firms not ready to stop issuing LIBOR-based contracts by Dec. 31.