The FAF finalized a new policy on November 19 that provides the GASB with direction on what information it may incorporate into the financial accounting and reporting concepts, standards, and guidance that it issues state and local governments.
In commemoration of the fortieth anniversary of the FASB, the FAF unveiled a new section of its website that features audio, transcripts, and photos from the FASB@40 Conference that was held September 12.
According to a recent survey from the Audit Executive Center of the Institute of Internal Auditors (IIA), internal audit departments are putting a greater focus on compliance risks and less emphasis on SOX.
A new guide released on November 8 by the Financial Reporting Executive Committee of the AICPA provides accountants, auditors, and valuation specialists with guidance for impairment testing of goodwill.
An updated print edition of the Governmental Accounting Standards Board (GASB) Codification of Governmental Accounting and Financial Reporting Standards was released by the GASB's parent organization, the FAF, on November 5.
On November 12, the Private Company Council voted to finalize an alternative standard on variable interest entity guidance for private companies, which will be submitted to the FASB for a final decision on endorsement.
The three research studies examine whether knowing the name of the engagement partner leading an auditing effort is valuable to investors and whether being required to provide this information enhances the performance of engagement partners.
In a letter to US senators Tom Carper and Tom Coburn, the AICPA encouraged the Senate's support of legislation that would include a provision calling for the establishment of government-wide financial data standards for federal funds.
The Sustainability Accounting Standards Board (SASB) on November 4 added a second public comment period for sustainability accounting standards the board is proposing for the financials sector, which encompasses seven industries.
A member of the Public Company Accounting Oversight Board (PCAOB) said during a conference on October 25 that setting a standard for auditing revenue will likely be on the PCAOB's radar in the months ahead.
With the news that the FASB – in conjunction with the IASB – intends to formally move forward with plans that will fundamentally alter the way that leases are accounted for on financial statements, businesses are recognizing they will need to adapt.
The US Securities and Exchange Commission (SEC) voted unanimously October 23 to propose rules under the Jumpstart Our Business Startups (JOBS) Act that will enable companies to offer and sell securities through crowdfunding.