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…
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…
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…
In Brief One of the goals of GAAP is to present a full picture of a company's financial situation, but for various reasons, companies often…
CPAJ News Briefs
FASB, PCAOB, SEC News
FASB News CPAs, Companies Pushing for Accounting and Disclosure Rules for Cryptocurrencies U.S. GAAP does not have specific guidance on how to account for and…
ICYMI | Overcoming Disclosure Overload and Achieving Greater Disclosure Effectiveness
A Status Report
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…
CPAJ News Briefs
FASB, SEC, PCAOB News
FASB News Income Tax Accounting Rules May Be Simplified FASB may simplify income tax accounting rules—one of the more complex topics in financial reporting—in targeted…
EDITORS NOTE: This article is an edited and condensed transcript of Mr. Panucci's remarks at the conference. Three new commissioners were appointed in 2018, the…
CPAJ News Briefs
FASB, AICPA, SEC News
FASB News Garnett, Burnap, Hamel Named to Advisory Panels On February 25, FASB and its parent organization, the Financial Accounting Foundation (FAF), announced appointments 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…
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…