ABout the Panelists Robert Uhl, partner at Deloitte & Touche LLP; Scott Taub, managing director at Financial Reporting Advisors LLC; Mark LaMonte, former managing director at Moody's Investors Service; Kirk Silva, vice…
We enjoyed reading Catherine R. Allen and David M. Nair's article in the March 2019 The CPA Journal, “Disclosure of Noncompliance with Laws and Regulations: What Whistleblower…
ICYMI | Questioning the Effectiveness of Independent Audit Committees
Does the Current Regulatory Regime Improve Reporting Quality?
In Brief At the root of over a decade of regulation and best practices is the premise that the structure and independence of a company’s…
CPAs need to be aware of current developments in key states in order to properly advise their clients that engage in business in multiple jurisdictions.…
The scope of the exception for taxpayers engaged in a real estate trade or business from the harsh consequences of Internal Revenue Code (IRC) section…
Cybersecurity: Where Are We, and What More Can Be Done?
Keynote Address
Our mission at the PCAOB calls on us to protect investors and the public interest by overseeing one particular aspect of the financial reporting ecosystem:…
Sometimes the highest and best value that CPAs can provide to their clients and employers is to prevent problems from occurring or to recognize events…
ICYMI | The Audit Report Returns to Its Roots
An Historical Perspective on Critical Audit Matters
The evolution of the standard audit report has been slow and cautious over the past century. Most recently, in 2011, the AICPA's Auditing Standards Board…
About the Panelists Susan Cosper, technical director at FASB and recently appointed to be a member of the board; Robert Laux, region lead for North America at the…
Circumstances requiring modifications to, or departures from, an unqualified auditor's opinion are described, together with appropriate guidance, in AU-C section 705, “Modifications to the Opinion…
About the Panelists Prabhakar Kalavacherla, a partner in the audit quality and professional practice group at KPMG; Mark LaMonte, former managing director at Moody's Investors Service; Sarah Ovuka,professional accounting…
Estates can be in shambles for years over medical bills, especially when the bills start to surpass an average yearly household income and coverage requires…
ICYMI | Enterprise Technology Risk in a New COSO ERM World
Eight Challenges Facing Management
The release of the revised Committee of Sponsoring Organizations (COSO) Enterprise Risk Management—Integrated Framework could not have come at a better time for technology risk professionals and…
Hedges of Recognized Foreign Currency–Denominated Assets and Liabilities
Applying ASU 2017-12
Accounting Standards Update 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities,modifies the accounting and reporting of foreign currency forward contract hedges…
On July 1, 2019, President Trump signed into law the Taxpayer First Act of 2019 (TFA), enacting changes to the IRS's organizational structure, customer service,…
About the Panelists Wesley Bricker, chief accountant at the SEC's Office of the Chief Accountant; Kyle Moffatt, chief accountant at the SEC's Division of Corporation Finance; and Matt Jacques, chief…
The Statement of Cash Flows Turns 30
Common Reporting Deficiencies and Recent Changes
This past year marked the 30th anniversary of the statement of cash flows as a required financial statement. FASB's efforts in developing the then-new standard…
ICYMI | Accounting in the Public Interest
An Historical Perspective on Professional Ethics
In Brief The commitment to serve the public interest in accounting has eroded, as personal and business relationships with clients and client management increasingly create…
The Challenge of Embedded Leases
Leases May Be Hiding in Supply and Service Contracts
As companies face the significant challenges in adopting Accounting Standards Codification (ASC) Topic 842, “Leases,” little has been written about the challenge posed by the…
The origins of cloud computing go back more than 20 years, with the first reference appearing in a 1996 internal Compaq document (Antonio Regalado, “Who…
Monitoring Risk in Financial Reporting
Regulators Look Closer at Cybersecurity, Sustainability, and Governance
The 18th Annual Financial Reporting Conference, hosted by Baruch College this past May 2, once again brought together regulators, standards setters, preparers, auditors, and users…
Opening Remarks: The Road to Better Financial Reporting
Reflections on Comparability and Convergence
About the Speakers Wesley Bricker serves as the chief accountant for the SEC's Office of the Chief Accountant (OCA). (Editor's note: Bricker left the SEC in…
Opening Remarks: Aiming Toward the Future
Building Trust, Quality, and Confidence
About the Speakers Wesley Bricker serves as the chief accountant for the SEC's Office of the Chief Accountant (OCA). (Editor's note: Bricker left the SEC in…
Quarterly Real U.S. GDP Growth Estimates for 2019 gross domestic product are coming down; while the first quarter ended with a 3.1% growth rate, evidence…
In Brief Sustainability investing continues to grow in popularity, but the lack of standardization in sustainability reporting poses a challenge for investors wishing to maximize…
XBRL Data Comparability
XBRL Data Comparability Current Use of Extensions and Opportunities for CPAs
In 2004, the SEC initiated the “Interactive Data Voluntary Program,” which encouraged publicly traded companies to voluntarily submit SEC filings using the Extensible Business Reporting…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Every CPA understands that “asset allocation” is the determination of which asset classes (e.g., tax-exempt bonds, large cap stocks, international stocks) are included in a…
The disclosure of nonfinancial information took on an increased importance when the European Union issued Directive 2014/95/EU (http://bit.ly/305nwzg) concerning reporting of sustainability information by large…
ICYMI | The Future of Accounting Is Now
Financial Performance Is Linked to Sustainable Growth
A growing body of research indicates that the language people speak could shape the way they think. Might the same be true when it comes…