A&A news

A&A

Social Media Risk Is a Concern for Internal Auditors

A top priority for chief audit executives and internal auditors this year is preventing risks – such as hits to the bottom line and a loss of productivity – that could result from social media use within their organizations, according to a survey released last week by global consulting firm Protiviti.
A&A

FASB Issues GAAP Variable Interest Entity Alternative

An accounting alternative that was issued by the Financial Accounting Standards Board (FASB) on March 20 would – if certain conditions are met – exempt private companies from applying VIE guidance to lessors under common-control leasing arrangements.
A&A

Auditing Special Purpose Frameworks: Client Acceptance and Continuance Decision-Making

CPA firms must establish and document policies and procedures for the acceptance and continuance of clients and engagements.
A&A

Bramwell’s Lunch Beat: No Agreement – Yet – on Lease Accounting Standard

Here are “Bramwell’s Lunch Beat” menu items for March 19.
A&A

Bramwell’s Lunch Beat: Politicians in Europe Bash IFRS Foundation

Here are “Bramwell’s Lunch Beat” menu items for March 17.
A&A

Bramwell’s Lunch Beat: MISSING: The Word ‘Restatement’

Here are “Bramwell’s Lunch Beat” menu items for March 14.
A&A

New GASB Toolkit Provides Resources on Pensions

A new online pension implementation toolkit from the Governmental Accounting Standards Board (GASB) supplies preparers, auditors, and users of state and local governmental financial reports with numerous resources on pension accounting and financial reporting standards.
A&A

Bramwell’s Lunch Beat: AgFeed Was Living High Off the Hog

Here are “Bramwell’s Lunch Beat” menu items for March 12.
A&A

Auditing Special Purpose Frameworks: Reviewing Prior-Year Audit Documentation

If you want to get the right answers in an audit, you have to ask the right questions, and that requires a prior-year review.
A&A

FASB Intends to Talk to Stakeholders About Fair Value Standard

The Financial Accounting Standards Board (FASB) said on Monday it will reach out to stakeholders about an accounting standard on fair value measurements, after a recent review of the standard noted that some investors found certain aspects of it challenging.
A&A

Bramwell’s Lunch Beat: Bad Day for Ex-Dewey & LeBoeuf Executives

Here are “Bramwell’s Lunch Beat” menu items for March 7.
A&A

Bramwell’s Lunch Beat: The Risks and Rewards of Interest Rate Swap Standard

Here are “Bramwell’s Lunch Beat” menu items for March 6.
A&A

Auditing Special Purpose Frameworks - Part 11: Overview of the Pre-Engagement Planning Process

Here is a table that provides a chronological approach to pre-engagement planning for audits of special purpose and other reporting frameworks. Future articles will present further details.
A&A

FASB Unveils Draft Disclosure Framework

The Financial Accounting Standards Board (FASB) on Tuesday issued an exposure draft on its proposed disclosure framework, which addresses the standard-setting organization’s process for identifying relevant information and the limits on information that should be included in notes to financial statements.
A&A

Bramwell’s Lunch Beat: Is Consulting Hurting Audit Quality?

Here are “Bramwell’s Lunch Beat” menu items for March 4.
A&A

New GAAP Hierarchy for State and Local Governments Urged by the GASB

A proposal made by the Governmental Accounting Standards Board (GASB) last week would give state and local governments new guidance to follow under US Generally Accepted Accounting Principles (GAAP) when preparing financial statements.
A&A

PCAOB to Hold Forum on Possible Changes to Auditor’s Report

The meeting, which will be held April 2 and 3 in Washington, DC, is intended to give the Public Company Accounting Oversight Board (PCAOB) an opportunity to hear feedback on its proposal to enhance the auditor's reporting model from panelists, including investors, senior executives and audit committee chairs of major corporations, and representatives from audit firms.
A&A

Bramwell’s Lunch Beat: SEC Employees Are Really Good at Stock Trading

Here are “Bramwell’s Lunch Beat” menu items for February 28.
A&A

Auditing Special Purpose Frameworks - Part 10: Planning and Performing the Audit

The effectiveness of an auditor’s planning process ultimately determines the efficiency with which an engagement can be performed. Following is an outline of some of the initial steps in planning an engagement, called the “preplanning phase.”
A&A

Bramwell’s Lunch Beat: SMBs Tout AICPA Framework

Here are “Bramwell’s Lunch Beat” menu items for February 26.

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