Accounting & Auditing

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Business argument

Materiality, Scope 3 emissions elicit debate in SEC climate rule comments

2022-07-06T13:40:00+01:00By

Comment letters in response to the SEC’s climate-related disclosure rule have laid out opponents’ issues with the proposal, while supporters have used the process to buttress the agency’s case for implementing it.

Mass storage

Financial volatility, supply chain disruptions among PCAOB 2022 inspection focuses

2022-07-05T13:40:00+01:00By

The Public Company Accounting Oversight Board will pay increased attention to how auditors are addressing changing risk landscapes because of the current economic environment during its 2022 inspections.

Accounting

FASB update clarifies fair value guidance for equity securities

2022-06-30T16:39:00+01:00By

The Financial Accounting Standards Board issued an update to its fair value measurement standard that clarifies conflicting guidance regarding equity securities.

Mergers

Survey: Tell us about your M&A compliance

2022-06-29T14:33:00+01:00Provided by Avalara

Take part in this 3-minute survey to help benchmark your mergers and acquisitions pain points against those of your peers. One lucky respondent will win a $200 Amazon gift card for completing the survey.

Brasseur_opinion

Historic EY fine latest by-product of KPMG cheating scandal

2022-06-29T13:44:00+01:00By

It is impossible to ignore the SEC’s $100 million fine against EY for employee exam cheating is double the amount the regulator penalized KPMG for its separate cheating scandal. Especially since the latter resolution appears to have served as a starting point for the SEC’s ruling on the former.

EY

EY fined record $100M for employee cheating scandal

2022-06-28T16:38:00+01:00By

Ernst & Young will pay $100 million after admitting to SEC charges addressing systematic cheating among its accounting professionals on CPA license exams over four years. The fine is the largest the agency has ever imposed against an audit firm.

AuditAdvice

PCAOB adopts new requirements for use of multiple audit firms

2022-06-22T23:02:00+01:00By

The Public Company Accounting Oversight Board announced its approval of a rule creating a new audit standard and amending a handful of others regarding audits involving multiple audit firms, the culmination of a project first launched in 2016.

Accounting

FASB removes goodwill accounting project from agenda

2022-06-16T15:44:00+01:00By

The Financial Accounting Standards Board tentatively ruled to remove a project regarding identifiable intangible assets and subsequent accounting for goodwill from its technical agenda.