This article is an update to the author's auditing column covering the same material in the proposal stage, published in the August 2018 issue of The…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
CPAJ News Briefs
FASB/PCAOB/SEC News
FASB News Banking Regulators to Finalize Rule Offering Capital Relief On September 18, federal banking regulators said they plan to finalize a rule to ease…
Brown began the panel by talking about the PCAOB's current status and objectives following the installment of an entirely new board by the SEC at…
Pictured, left to right: Charles Wright, Norman Strauss, Wesley Bricker, and Kyle Moffatt Photos by E. Lee White Bricker began the panel by showing the…
Pictured, left to right: Wesley Bricker and Russell Golden Photos by E. Lee White ABOUT THE SPEAKERS Wesley Bricker serves as the chief accountant for the…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
CPAJ News Briefs
FASB/GASB/SEC News
FASB News Effort to Refine U.S. GAAP’s Definition of a ‘Liability’ Continues. FASB’s latest effort to update its Conceptual Framework is focusing on the building…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
The June 2017 installment of this column covered “Reporting on Restatement Adjustments after an Auditor Change” (http://bit.ly/2pQMClB). This installment expands on that theme, providing guidance…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Although still in the proposal stage, there has been substantial movement by both FASB and the SEC on major issues discussed by this author in…
Our article in the December 2017 issue of the Journal, “Alternative Dispute Resolution for Accounting and Related Services Disputes,” makes the following statement that needs to…
On November 28, 2017, Baruch College held its annual auditing conference at its campus in New York City; this article presents the highlights of a…
Characteristics of Financial Restatements and Frauds
An Analysis of Corporate Reporting Quality from 2000–2014
Corporate reporting quality has been at the forefront of the profession since the major corporate accounting scandals such as Enron and WorldCom at the beginning…
Maloney began the panel by discussing recent enforcement cases, focusing on areas where there are, as he put it, “repeat problems.” These included revenue recognition,…
As in past years, this month's issue features the highlights of Baruch College's Annual Financial Reporting Conference. This gathering reliably brings together leading names from…
At the SEC, regulators are trying to bring U.S. securities regulation and disclosure into the 21st century. In April, the SEC issued Concept Release 33-10064…
President Trump has nominated Wall Street lawyer Walter “Jay” Clayton to be the next chairman of the SEC. While Clayton has no experience as a…
A Historical Episode of Professional Skepticism
The SEC’s Thomascolor Case against Haskins & Sells
“To perform their role properly—to assure that reported financial and economic successes are not illusory—auditors must approach their jobs with independence and skepticism.” —PCAOB Chairman…
At the first panel of the 15th Annual Financial Reporting Conference, the panelists discussed the SEC's recent activities and plans for the future. Topics included…
Transition Issues, Non-GAAP Measures, and Disclosures
Opening Remarks from the SEC and FASB
Wesley Bricker Deputy Chief Accountant, SEC Credible, reliable, and useful financial reporting for investors requires not only high-quality accounting and auditing standards, but also robust…
At the SEC, regulators are trying to bring U.S. securities regulation and disclosure into the 21st century. In April, the SEC issued Concept Release 33-10064…
In mid-2013, the SEC established the Financial Reporting and Audit Task Force, which in part was formed to spearhead the Division of Enforcement's efforts to…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
In August 2015, the SEC, by the narrowest of margins (3 votes for, 2 against), adopted the long-awaited and politically charged rule requiring large U.S.…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Trends in SEC Enforcement
What CPAs Need to Know
In Brief With the SEC's enforcement of laws against fraud and other financial wrongdoing at its highest in recent memory, CPAs must be vigilant in…
How to Avoid Running Afoul of the SEC
Part 2: The Internal Controls Cases
In Brief In early 2014, the SEC's enforcement director said that the agency's investigators “were planning to pursue some internal control-related cases,” noting that this…