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  • SEC (US Securities and Exchange Commission) Image
  • SEC proposes rules to enhance investor protection

    Apr 19, 2018

    The SEC has issued a “package” of proposals that would “enhance the quality and transparency of investors’ relationships with investment advisers and broker-dealers while preserving access to a variety of types of advice relationships and investment products.”

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  • Federal Reserve approves proposal to revise regulatory capital rules and offer phase-in approach for CECL

    Apr 13, 2018

    The Federal Reserve Board has approved the proposal “Regulatory Capital Rules: Implementation and Transition of the Current Expected Credit Losses [CECL] Methodology for Allowances and Related Adjustments to the Regulatory Capital Rules and Conforming Amendments to Other Regulations,” which the Board jointly issued with two other federal agencies (the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation).

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  • Highlights of the FASB’s April 11 meeting

    Apr 12, 2018

    At its April 11, 2018, meeting, the FASB discussed its proposed ASUs (1) “Technical Corrections and Improvements to Topic 942, Financial Services — Depository and Lending: Elimination of Certain Guidance for Bad Debt Reserves of Savings and Loans” and (2) “Codification Improvements.”

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  • SEC staff updates C&DIs on non-GAAP financial measures

    Apr 05, 2018

    The staff in the SEC’s Division of Corporation Finance has added two questions to its compliance and disclosure interpretations (C&DIs) related to non-GAAP financial measures associated with business combinations.

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  • Audit Committee Brief — March 2018  Image
  • Audit Committee Brief — April 2018

    published Apr 20, 2018

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

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  • Financial Reporting Alert 18-6 — Financial statement implications of the new partnership audit rules

    published Apr 16, 2018

    This Financial Reporting Alert discusses the financial statement implications of the new rules for partnership audits and adjustments under the Bipartisan Budget Act of 2015, which was signed into law on November 2, 2015. The new rules supersede the current Tax Equity and Fiscal Responsibility Act procedural rules for partnership audits and adjustments and will apply to all partnerships, although an opt-out election is available to certain qualifying partnerships. The rules are effective for returns filed for partnership taxable years beginning after December 31, 2017.

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  • Heads Up — What private companies should know about the new revenue recognition standard

    published Apr 11, 2018

    This Heads Up provides a high-level overview of the new five-step model for recognizing revenue under ASC 606 and discusses the standard's mandatory effective date for private companies. It also outlines the practical expedients available to private companies with respect to certain of the new standard's disclosure requirements and discusses internal control considerations. In addition, the Heads Up provides some observations and lessons learned from the implementation of ASC 606 by public companies.

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  • Journal entry — Hedging — FASB discusses feedback on key implementation issues

    published Apr 10, 2018

    At its March 28, 2018, meeting, the FASB discussed a number of implementation issues related to ASU 2017-12 that arose from technical inquiries received by the FASB staff from various constituents. The staff shared with the Board its responses to those inquiries and questioned whether the Board agreed with the conclusions.

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  • IFRS on Point — April 2018

    published Apr 10, 2018

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

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