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  • CAQ document Image
  • CAQ issues publication on emerging technology

    May 17, 2019

    The Center for Audit Quality (CAQ) has released a publication, “Emerging Technologies, Risk, and the Auditor’s Focus — A Resource for Auditors, Audit Committees, and Management.”

  • SEC (US Securities and Exchange Commission) Image
  • SEC proposes changes to cross-border security-based swap transactions

    May 10, 2019

    The SEC has issued “Proposed Rule Amendments and Guidance Addressing Cross-Border Application of Certain Security-Based Swap Requirements,” which the Commission describes as “a package of rule amendments and interpretive guidance to improve the framework for regulating cross-border security-based swaps transactions and market participants.”

  • AICPA (American Institute of CPAs) Image
  • AICPA issues SAS 134 and SAS 135

    May 10, 2019

    The AICPA’s Auditing Standards Board has published two Statements on Auditing Standards (SASs): No. 134, “Auditor Reporting and Amendments, Including Amendments Addressing Disclosures in the Audit of Financial Statements,” and No. 135, “Omnibus Statement on Auditing Standards — 2019.”

  • CAQ (US Center for Audit Quality) Image
  • CAQ updates publication on ICFR

    May 09, 2019

    The Center for Audit Quality (CAQ) has released an updated version of its 2013 publication “Guide to Internal Control Over Financial Reporting [ICFR].”

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  • Heads Up — FASB issues targeted transition relief for entities adopting ASU 2016-13  Image
  • Heads Up — FASB issues targeted transition relief for entities adopting ASU 2016-13

    published May 15, 2019

    This Heads Up discusses the key provisions of the FASB’s recently issued Accounting Standards Update (ASU) No. 2019-05, "Targeted Transition Relief," which provides transition relief to entities adopting ASU 2016-13, "Measurement of Credit Losses on Financial Instruments." The amendments in ASU 2019-05 allow entities to elect the fair value option on certain financial instruments.

  • Heads Up — SEC proposes to ease qualifications for nonaccelerated filer status  Image
  • Heads Up — SEC proposes to ease qualifications for nonaccelerated filer status

    published May 14, 2019

    This Heads Up discusses the SEC’s recently issued proposed rule Amendments to the "Accelerated Filer and Large Accelerated Filer Definitions," which would revise the definitions of “accelerated filer” and “large accelerated filer” to exclude any issuer with both annual revenues of less than $100 million and public float of less than $700 million. The proposed amendments would expand the number of issuers that qualify as nonaccelerated filers and are thus eligible to take advantage of certain reporting accommodations offered to such issuers.

  • Heads Up — SEC proposes improvements to disclosures for business acquisitions and dispositions Image
  • Heads Up — SEC proposes improvements to disclosures for business acquisitions and dispositions

    published May 09, 2019

    This Heads Up discusses the SEC’s recently issued proposed rule "Amendments to Financial Disclosures About Acquired and Disposed Businesses," which would amend the financial statement requirements for acquisitions and dispositions of businesses, including real estate operations, and related pro forma financial information. These changes are intended to improve the information investors receive regarding acquired or disposed businesses, reduce complexity and costs of preparing the required disclosures, and facilitate timely access to capital.

  • Heads Up — FASB issues narrow financial instrument accounting updates Image
  • Heads Up — FASB issues narrow financial instrument accounting updates

    published May 07, 2019

    This Heads Up discusses the key provisions of the FASB’s recently issued Accounting Standards Update (ASU) 2019-04, which clarifies certain aspects of accounting for credit losses, hedging activities, and financial instruments. The ASU’s amendments apply to all entities within the scope of the affected guidance. Many of the amendments reflect decisions reached at FASB meetings or meetings of the Board’s credit losses transition resource group.

  • IFRS on Point — April 2019  Image
  • IFRS on Point — April 2019

    published May 07, 2019

    IFRS on Point, published at the beginning of each month, highlights critical IFRS-related financial reporting developments.

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  • Journal entry — FASB discusses simplifications to accounting for income taxes

    published May 02, 2019

    At its meeting on April 10, 2019, the FASB decided to add a project to its agenda regarding simplifications to accounting for income taxes. The Board tentatively decided on the scope of the project, which is part of its Simplification Initiative. In its initial discussion of this topic, the FASB noted that “accounting for income taxes has consistently been among the top areas of restatements over the last several years,” and is, therefore, worth considering further for simplification.

  • CFO Insights — Economic cycles: What should CFOs prepare for now? Image
  • CFO Insights — Economic cycles: What should CFOs prepare for now?

    published May 02, 2019

    This issue looks at which looming dangers have the combined potential to upend the economy in 2020, what CFOs should consider doing now to prepare their companies, and how a weaker economy requires finance leaders to become stronger decision makers.

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