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  • SEC (US Securities and Exchange Commission) (dark gray) Image
  • SEC staff publishes C&DI on Form ABS-EE filing

    Apr 28, 2016

    The staff in the SEC’s Division of Corporation Finance has updated its compliance and disclosure interpretation (C&DI) related to Regulation AB to include guidance on filing asset-level disclosures on Form ABS-EE.

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  • FASB discusses credit impairment at April 27 meeting

    Apr 27, 2016

    At its April 27, 2016, meeting, the FASB discussed its credit impairment project and the progress of the transition resource group (TRG) on credit losses. The Board authorized the staff to draft a final standard and also made tentative decisions related to (1) credit quality disclosures, (2) the effective date of the final standard and whether the guidance can be early adopted, and (3) the costs and benefits of the final standard.

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  • FASB publishes new issue of "FASB Outlook"

    Apr 26, 2016

    The FASB has published the latest issue of its quarterly e-newsletter, "FASB Outlook," which contains high-level information about the Board’s projects and key activities.

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  • SEC updates EDGAR filer manual and technical specifications

    Apr 25, 2016

    The SEC has updated its Electronic Data Gathering, Analysis, and Retrieval (EDGAR) System Filer Manual (Volume II) to include new submission forms related to the registration of security-based swap dealers and major security-based swap participants.

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  • PCAOB issues practice alert on audit document alterations

    Apr 22, 2016

    The PCAOB has issued Staff Audit Practice Alert No. 14, "Improper Alteration of Audit Documentation,” which reminds auditors of serious disciplinary actions that can result from the improper alteration of audit documentation in connection with a PCAOB inspection or investigation.

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  • Highlights from the FASB’s April 20 meeting

    Apr 22, 2016

    At its April 20, 2016, meeting, the FASB (1) discussed feedback it has received on its proposed Accounting Standards Update (ASU) on clarifying the scope of ASC 610-20 and accounting for partial sales of nonfinancial assets; (2) ratified the consensus of the Emerging Issues Task Force (EITF) on Issue No. 16-A, "Restricted Cash"; and (3) added two projects to its agenda.

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  • First FASB-only revenue recognition TRG meeting held

    Apr 20, 2016

    On April 18, 2016, the transition resource group (TRG) for revenue recognition, which was created by the FASB and IASB to address potential issues related to the implementation of the boards’ new revenue standard, held its first FASB-only session.

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  • Audit & Assurance Update — PCAOB issues proposal for audits involving other auditors Image
  • Audit & Assurance Update — PCAOB issues proposal for audits involving other auditors

    published Apr 29, 2016

    This Audit & Assurance Update addresses the key provisions of the PCAOB’s proposed amendments to its auditing standards to strengthen requirements that apply to audits involving accounting firms and individual accountants that are not part of the accounting firm that issues the auditor’s report (i.e., “other auditors”).

  • Financial instruments — FASB authorizes staff to draft final standard on credit impairment Image
  • Journal entry — Financial instruments — FASB authorizes staff to draft final standard on credit impairment

    published Apr 27, 2016

    At its meeting today, the FASB discussed its credit impairment project and the progress of the transition resource group (TRG) on credit losses. The Board authorized the staff to draft a final standard and also made tentative decisions related to (1) credit quality disclosures, (2) the effective date of the final standard and whether the guidance can be early adopted, and (3) the costs and benefits of the final standard.

  • Heads Up — FASB simplifies the accounting for share-based payments  Image
  • Heads Up — FASB simplifies the accounting for share-based payments

    published Apr 21, 2016

    This Heads Up supersedes our March 31, 2016, Heads Up on the FASB’s simplification of the accounting for share-based payments. It contains revisions that reflect subsequent discussions with the FASB and SEC staffs related to entities’ changes to the net-settlement terms of their share-based payment arrangements from the minimum statutory tax rate to a higher rate up to the maximum statutory tax rate. The revised Heads Up notes that such changes would not be accounted for as a modification.

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  • CFO Insights — How to uncover hidden FX risks

    published Apr 21, 2016

    This issue outlines common missteps in identifying foreign exchange (FX) exposure and discusses why companies need a solid understanding of their various forecasts and drivers of those forecasts so that they can identify where exposures may lie.

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  • Audit Committee Brief — April 2016

    published Apr 19, 2016

    This edition highlights recent news items, publications, articles, and other topics of interest to audit committee members, with links for further information.

  • Heads Up — SEC concept release seeks comments on Regulation S-K Image
  • Heads Up — SEC concept release seeks comments on Regulation S-K

    published Apr 18, 2016

    This Heads Up discusses the SEC’s recently published Concept Release No. 33-10064, "Business and Financial Disclosure Required by Regulation S-K," which seeks feedback from constituents on modernizing certain business and financial disclosure requirements of Regulation S-K.

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