Following Chief Accountant James Schnurr’s serious bicycle crash, the SEC has named Wesley Bricker interim chief accountant. Bricker will handle the chief accountant duties during Schnurr’s recovery.
The Brexit vote and a proposed rule from the SEC put a spotlight on business disruptions. Also in the news of interest to CPAs, the IRS issued regulations about tax-exempt organizations and country-by-country reporting.
The SEC voted to propose amendments intended to eliminate redundant, overlapping, outdated, or superseded disclosure requirements.
New high-profile accounting standards for revenue recognition, leases and expected credit losses have companies facing a heavy implementation burden. Here are tips that could ease the stress and make implementation smoother.
Exempt offerings include, but are not limited to, private placement offerings, exempt public offerings, municipal securities offerings, and franchise offerings.
Gathering data to fill gaps and taking advantage of previous work will be two key actions as companies begin to implement the Financial Accounting Standards Board’s new expected credit loss standard.
Reducing negative surprises and improving resource allocation are among the benefits of integrated enterprise risk management, according to the proposed framework update by COSO.
Social welfare benefit organizations are now required to notify the Internal Revenue Service of their formation and intent to operate under Sec. 501(c)(4).
The AICPA Accounting and Review Services Committee proposed certain necessary revisions to correct requirements and guidance related to reporting on supplementary information in its standard on reviews of financial statements.
An exposure draft issued by the AICPA Auditing Standards Board proposes to supersede the current standard on the auditor’s consideration of an entity’s ability to continue as a going concern.
The AICPA Financial Reporting Executive Committee has issued working drafts addressing accounting issues related to the implementation of the new revenue recognition standard in nine industries.
The IRS issued final regulations requiring the ultimate parent entity of a multinational enterprise group with revenue of $850 million or more in the preceding accounting period to file Form 8975, Country-by-Country Report.
CPAs registered as investment advisers with the SEC would have to develop and implement written business continuity plans under a rule proposed by the commission.
The Brexit referendum underscores the need for companies to be ready for upheaval through robust scenario planning.
The Public Company Accounting Oversight Board issued staff guidance for firms filing the new Form AP, which is for disclosing the names of engagement partners and other firms participating in public company audits.
SEC Chair Mary Jo White said in a speech Monday that reporting of non-GAAP measures can provide a clearer picture of a company’s results.
The IRS announced that the electronic filing personal identification number (e-file PIN) tool is “no longer available” after it detected additional attacks on the system.
FASB would amend consolidation guidance under a proposal issued with the intent of providing more useful information to users of financial statements.
The IRS brings back the Get Transcript Online service, but the agency faces criticism for its handling of the aftermath of the event that led to the shutdown of the service.
CFOs feel barraged by new compliance mandates, and they don’t expect complexity associated with such regulation to subside any time soon.