Topics covered in this issue include the following:

Intangibles — Goodwill and Other

• FASB Issues Proposed ASU on Testing Goodwill for Impairment

Receivables

• FASB Addresses Troubled Debt Restructurings

Transfers and Servicing

• FASB Amends Guidance on Effective Control in Repurchase Agreements

Other Accounting

• FASB and IASB Report on Convergence
• AICPA Issues Working Draft of Audit and Accounting Guide on Employee Benefit Plans
• AICPA Issues Working Draft of Audit and Accounting Guide on Health Care Entities
• AICPA Issues Working Draft of Practice Aid on Valuation of Privately-Held-Company Equity Securities Issued as Compensation

Other SEC Matters

• SEC Proposes Rule to Remove References to Credit Ratings Under Securities Exchange Act of 1934
• SEC Publishes Findings and Recommendations From Study on Compliance With Section 404(b)
• SEC Announces Roundtable on IFRSs
• SEC Updates Financial Reporting Manual

Other Auditing

• CAQ Issues Alert on PCAOB Research Note Related to Audits of Foreign Operations of U.S. Registrants
• PCAOB’s Standing Advisory Group Meets to Discuss Current Projects
• PCAOB Enters Into Cooperative Agreement With Swiss Regulators

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