The accounting press has heralded the growing and transformational use of data analytics in accounting—auditing in particular. A recent poll regarding top priorities for audit…
About the Speaker The conference keynote was a prerecorded “fireside chat” with newly installed PCAOB chair Erica Y. Williams. Williams was sworn in as the chair of…
About the Panelists The last panel of the morning was focused on environmental, social, and governance (ESG) issues as they affect accounting, auditing, and financial…
About the Panelists The first panel was focused on current developments at the SEC. Jonathan Wiggins, deputy chief accountant, Office of the Chief Accountant (OCA), SEC, served…
Opening Remarks
A Conversation with Paul Munter and Richard Jones
About the Speakers Paul Munter was named chief accountant in the Office of the Chief Accountant (OCA) at the SEC in January; he had been serving…
About the Panelists The last panel of the morning was focused on environmental, social, and governance (ESG) issues as they affect accounting, auditing, and financial…
About the Speaker The conference keynote was a prerecorded “fireside chat” with newly installed PCAOB chair Erica Y. Williams. Williams was sworn in as the chair of…
About the Panelists The first panel was focused on current developments at the SEC. Jonathan Wiggins, deputy chief accountant, Office of the Chief Accountant (OCA), SEC, served…
Opening Remarks
A Conversation with Paul Munter and Richard Jones
About the Speakers Paul Munter was named chief accountant in the Office of the Chief Accountant (OCA) at the SEC in January; he had been serving…
Financial Reporting Today
Highlights from the 21st Annual Baruch College Financial Reporting Conference
The 21st Annual Financial Reporting Conference was hosted by Baruch College, City University of New York, on May 4, 2023. The longstanding conference brought together—in…
ICYMI | Asset Acquisition Accounting
Understanding the Available Guidance
A business combination is a transaction or event by which an acquirer obtains control of a business (i.e., the acquiree). If the acquisition of an…
Editors' Note: The CPA Journal staff would like to acknowledge the recent passing of longtime column editor, author, and Editorial Advisory Board member Howard Levy. His…
ICYMI | Independence Matters
Avoiding Pitfalls for the Unwary
In Brief Auditor Independence is integral to the financial reporting system and trust in the capital markets. But recent cases against large audit firms underscore…
ICYMI | Accounting for Operating Leases
Initial Observations
This article examines the initial impact of the adoption of ASU 2016-02 (ASC Topic 842, Leases), which requires lessees to record assets and liabilities for…
In Brief Chief financial officers of not-for-profit organizations have always faced many challenges, some common to all corporate leaders, some unique to the sector. Today's…
In Brief The PCAOB inspects audits of registered public accounting firms and identifies deficiencies in gathering audit evidence and internal controls over financial reporting and…
When an acquirer obtains control of a business, it establishes new bases for the assets acquired and liabilities assumed based on their fair values. The…
Simplification May Not be so Simple
The Adoption of ASU 2021-08
FASB issued ASU 2021-08, Business Combinations (Topic 805)–Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, to address the diversity in practice on the…
GASB Issues Statements 100 and 101
Clarifying the Reporting of Accounting Changes and Compensated Absences
In Brief To address the challenges facing governments in reporting accounting changes and error corrections, GASB issued Statement 100. This standard aims for greater uniformity…
Financial Reporting Quality during COVID-19
Non-GAAP Financial Measures and MD&A Disclosures
The COVID-19 pandemic has added to the uncertainty and confusion faced by stakeholders. As companies incur revenue loss, plan for recovery, and start to adopt…
In Brief Chief financial officers of not-for-profit organizations have always faced many challenges, some common to all corporate leaders, some unique to the sector. Today's…
In Brief The PCAOB inspects audits of registered public accounting firms and identifies deficiencies in gathering audit evidence and internal controls over financial reporting and…
Editors' Note: The CPA Journal staff would like to acknowledge the recent passing of longtime column editor, author, and Editorial Advisory Board member Howard Levy. His…
Detecting ‘Big Bath’ Accounting in the Wake of the COVID-19 Pandemic
Can Traditional Financial Metrics Find Earnings Management?
In Brief As many companies deal with the aftermath of declining sales and reduced profit margins associated with the COVID-19 pandemic, management may be tempted…
Critical Audit Matter Reporting
A Comparison of Years 1 through 3
In Brief It has been suggested that the recent introduction of Critical Audit Matters (CAM) to audit reports represents the most significant change to reporting…
PCAOB Chair Keynote Session
Fireside Chat with Erica Y. Williams
About The Speaker The keynote speaker at the conference was PCAOB Chair Erica Y. Williams. Williams was sworn in as the chair in January 2022, coming from…
Many equity investments do not require the complete acquisition of investees and their consolidations. Depending on circumstances, companies may account for an equity investment as…
Special Purpose Acquisition Companies
Financial Reporting Considerations
In Brief Special Purpose Acquisition Companies (SPAC) had, until recently, demonstrated unbroken growth as a popular alternative to conventional initial public offerings (IPO). Although SPACs…
Independence Matters
Avoiding Pitfalls for the Unwary
In Brief Auditor Independence is integral to the financial reporting system and trust in the capital markets. But recent cases against large audit firms underscore…
Get Ready for the Future of Auditing
Technology, ESG, and Next-Generation Skills
The increasing use of technology is changing how businesses operate, which methodology and technology auditors use, and what career paths they follow. But the future…