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The AICPA Auditing Standards Board (ASB) modernizes private company auditing standards by recognizing the critical value technology and information bring in today's audit procedures. Continue Reading
There are now several new accounting standards that not-for-profits will need to implement over the next few years. Continue Reading
With customers confined to their homes, many corporate executives will be pondering their companies’ ability to generate sufficient cash flows to support operations. Continue Reading
FASB voted today to extend by one year the effective date of its revenue recognition standard to all nonpublic entities that have not yet issued their financial statements. Continue Reading
The effective dates of seven private company auditing standards were delayed for one year as the result of a vote Monday (04/20/20) by the AICPA Auditing Standards Board (ASB). Continue Reading
Eligible financial institutions will not be in violation of GAAP if they take advantage of the deferrals or suspensions of two FASB standards as permitted in the new federal coronavirus relief law, SEC Chief Accountant Sagar Teotia said Friday in a statement issued by the commission. Continue Reading
The process can be made faster and easier by performing pre-close activities throughout the year in the run-up to the annual close. Continue Reading
Work ahead to manage time and cut down on stress when deadlines loom. Continue Reading
On Friday, FASB issued two new Accounting Standards Updates (ASU) that delay many of the effective dates for new standards on leases, hedging, current expected credit losses (CECL), and long-duration insurance contracts. Continue Reading
Auditors who live and breathe ERISA need to shift quickly if they want to keep up with standard changes. Continue Reading