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Jul 24, 2024
FASB has issued a new chapter of its Conceptual Framework related to the measurement of items recognized in financial statements. The Conceptual Framework is a body of interrelated objectives and fundamentals that provides the FASB with a useful tool as it sets standards. A Statement of Financial Accounting Concepts is nonauthoritative and does not establish or change GAAP.
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Jul 24, 2024
In case you missed them, here are some recent interesting financial A&A news items from around the web.
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Jul 19, 2024
Financial restatements filed with the Securities and Exchange Commission are on the decline for the second consecutive year after a spike in 2021.
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Jul 19, 2024
In case you missed them, here are some recent interesting financial A&A news items from around the web.
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Jul 11, 2024
The PCAOB has approved the adoption of an amendment to PCAOB Rule 3502, previously titled Responsibility Not to Knowingly or Recklessly Contribute to Violations. The rule, originally enacted in 2005, governs the liability of an associated person of a registered public accounting firm who contributes to that firm’s violations of the laws, rules and standards that the PCAOB enforces.
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Jul 11, 2024
In case you missed them, here are some recent interesting financial A&A news items from around the web.
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Jun 28, 2024
GASB has published a Post-Implementation Review (PIR) report on the Board’s pension standards.
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Jun 28, 2024
In case you missed them, here are some recent interesting financial A&A news items from around the web.
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Jun 17, 2024
The International Accounting Standards Board (IASB) issued amendments to the classification and measurement requirements in IFRS 9 Financial Instruments. The amendments will address diversity in accounting practice by making the requirements more understandable and consistent.
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Jun 17, 2024
In case you missed them, here are some recent interesting financial A&A news items from around the web.
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Jun 10, 2024
Cybersecurity breach reporting requirements adopted by the SEC last year aren’t intended for voluntary disclosure of “immaterial” incidents, a senior agency official said in a recent statement.
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Jun 10, 2024
In case you missed them, here are some recent interesting financial A&A news items from around the web.
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Jun 05, 2024
GASB issued guidance designed to improve key components of the financial reporting model—the blueprint for governmental financial reports.
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Jun 05, 2024
In case you missed them, here are some recent interesting financial A&A news items from around the web.
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May 31, 2024
The Center for Audit Quality (CAQ) wants the PCAOB to postpone sending two of its newly approved standards, on quality control and auditor responsibilities, to the SEC for final approval, while also requesting a longer comment period for two proposed standards, on firm and engagement metrics along with firm reporting.
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May 31, 2024
In case you missed them, here are some recent interesting financial A&A news items from around the web.
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May 30, 2024
Crypto assets–There are many unknowns about where the future of this emerging and complex subject is heading, but one thing is certain: crypto transactions impact an entity’s finances. Those impacts must make their way to the financial statements. And those statements must be audited for accuracy and assurance.
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May 21, 2024
The PCAOB has published a staff report about how a root cause analysis (RCA) can lead to improved audit quality. The 9-page report covers general considerations, other observations about root cause analysis from audit inspections and key questions for firms to consider.
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May 21, 2024
In case you missed them, here are some recent interesting financial A&A news items from around the web.
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May 16, 2024
Registration is now open for an upcoming webcast that will provide a semiannual update on FASB’s standard-setting activities pertaining to private companies and nonprofit organizations. The webcast, FASB Update for Private Companies and Not-for-Profit Organizations, will take place on June 10 from 1 – 3:05 p.m. ET.