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Forum on integrated thinking at the World Economic Forum in Davos
Jan 17, 2019
On January 22-25, 2019, the World Economic Forum (WEF) will hold its annual meeting. This meeting is an annual opportunity for leaders across business and government to come together to discuss solutions to the world’s most pressing economic and social challenges. Deloitte joins these global leaders and participates in discussions and events designed to develop meaningful and measurable solutions to these challenges.
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IOSCO issues good practices to assist audit committees in supporting audit quality
Jan 17, 2019
On January 17, 2019, the Board of the International Organization of Securities Commissions (IOSCO) published the "IOSCO Report on Good Practices for Audit Committees in Supporting Audit Quality", which seeks to assist audit committees in promoting and supporting audit quality.
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The Global Risks Report 2019
Jan 15, 2019
On January 15, 2019, the World Economic Forum released the 14th edition of its report, which provides an opportunity to place the global risk landscape into context at the beginning of the new year and identify priority areas for action in 2019.
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Keep up to date! Assurance over Key Performance Indicators
Jan 14, 2019
On January 14, 2019, the Auditing and Assurance Standards Board (AASB) released an article on reporting and providing assurance over key performance indicators.
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In Brief Podcast – AASB’s Exposure Draft, Reporting on Controls at a Service Organization
Jan 14, 2019
On January 14, 2019, the Auditing and Assurance Standards Board (AASB) released a podcast that provides a plain and simple overview of the AASB’s Exposure Draft, "Reporting on Controls at a Service Organization Relevant to User Entities’ Internal Control Over Financial Reporting."
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OSC taking action to reduce regulatory burden for Ontario market participants
Jan 14, 2019
On January 14, 2019, the Ontario Securities Commission (OSC) published OSC Staff Notice 11-784: Burden Reduction, which outlines plans to broadly consult Ontario market participants on ways to further reduce regulatory burden and improve the investor experience.
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IASB to consider further potential amendments to IFRS 17
Jan 11, 2019
In January 2019, the International Accounting Standards Board (the Board) released the agenda papers for their upcoming meeting. The Board will discuss 5 of the 25 concerns regarding IFRS 17, "Insurance Contracts" that were identified in October 2018 as candidates for potential amendments. The staff recommends several amendments to the standard.
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IAASB releases ISA 540 (Revised) Presentation
Jan 11, 2019
On January 11, 2019, the International Auditing and Assurance Standards Board (IAASB) released a video on ISA 540 (Revised). Listen to Rich Sharko, IAASB Board member and the Chair of the ISA 540 (Revised) Implementation Support Working Group, as he explains the public interest issues addressed by International Standard on Auditing 540 (Revised), Auditing Accounting Estimates and Related Disclosures.
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EC expert group issues report on disclosure of climate-related information
Jan 10, 2019
In January 2019, the Technical Expert Group on Sustainable Finance set up by the European Commission (EC) published its first report on companies' disclosure of climate-related information. It contains recommendations that will allow the EC to update its non-binding guidelines on non-financial reporting with specific reference to climate-related information, in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) established by the Financial Stability Board.
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CPAB 2019-2021 Strategic Plan: Accelerating Audit Quality
Jan 10, 2019
On January 10, 2019, the Canadian Public Accountability Board (CPAB) released their strategic plan. The next three years promises both challenges and opportunities in audit regulation and in the drive for high quality, consistent audits of public companies in Canada.
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Audit & Assurance Update — PCAOB adopts standard for auditing accounting estimates and amendments on the use of specialists
published Jan 16, 2019
This Audit & Assurance Update (1) highlights key provisions of the PCAOB’s new auditing standard, which is intended to enhance the requirements that are applicable when auditing accounting estimates, including fair value measurements, and (2) describes the PCAOB’s amendments to its auditing standards to strengthen requirements that are applicable when auditors use the work of specialists in an audit.
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SEC Compliance Checklist on Form 10-K
published Jan 08, 2019
The SEC Form 10-K is used for annual reports under Section 13 or 15(d) of the Securities Exchange Act of 1934. This checklist summarizes the disclosure requirements of Form 10-K.
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SEC Compliance Checklist — General
published Jan 08, 2019
Completion of SEC Compliance Checklist — General, assists in documenting compliance with SEC disclosure and filing requirements. This checklist is not designed for use by “Smaller Reporting Companies” or “Emerging Growth Companies.”
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Checklist for Quarterly Report on SEC Form 10-Q
published Jan 08, 2019
SEC Form 10-Q is used for quarterly reports under Section 13 or 15(d) of the Securities Exchange Act of 1934. This checklist summarizes the disclosure requirements of Form 10-Q.
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SEC Checklist — Annual Report or Registration Statement/Transition to Form 20-F Is Revised
published Jan 08, 2019
SEC Checklist — Annual Report or Registration Statement/Transition to Form 20-F, appropriate for external distribution to clients, is revised to reflect changes in SEC rules, regulations, and forms; update references; and make editorial changes. No significant changes were made to this checklist as a result of this update.
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Deloitte comment letter on the IASB's discussion paper on financial instruments with characteristics of equity
published Dec 20, 2018
We have responded to the IASB's discussion paper 'Financial Instruments with Characteristics of Equity' that was published in June 2018. We do not support the preferred classification approach in the discussion paper and believe financial performance should be attributed to those holders of equity instruments that currently own a residual interest in the entity, not to those that hold instruments which may result in them being owners in the future. In addition, we disagree that amounts due at liquidation are financial liabilities prior to liquidation and do not support the carry over of requirements in IAS 32 that future acquisitions of equity should be recognized as a gross financial liability with a debit in equity.
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Adieu boilerplate audit opinion
published Dec 18, 2018
The effective date of the new CAS auditor's report is now upon us. Are you ready? Deloitte has created a new brochure that covers the key changes and provides an illustrative report that reflects a common reporting scenario under the ASPE framework.
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CCGG: 2018 Best Practices for Proxy Circular Disclosure
published Dec 17, 2018
The Best Practices publication, which is updated annually, provides examples of high-quality, public disclosure of important corporate governance policies and practices.
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ASC annual oil and gas review
published Dec 17, 2018
The oil and gas review report is prepared annually by the ASC’s Petroleum group within the Corporate Finance division. This group is comprised of experienced and knowledgeable oil and gas professionals who understand the challenges currently facing the industry and who are dedicated to protecting investors and assisting reporting issuers in meeting their compliance requirements.
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Heads Up — Highlights of the 2018 AICPA Conference on Current SEC and PCAOB Developments
published Dec 16, 2018
This issue extracts key insights from this year's three-day AICPA Conference on Current SEC and PCAOB Developments. The conference features speeches and panel discussions by members of the SEC, PCAOB, FASB, and other professional groups on current accounting, reporting, and auditing practice issues.
