International


 The International Accounting Standards Board (IASB) published guidance on the application of fair value measurement when markets become inactive. The guidance includes a report by an expert advisory panel established to consider the issue, as well as a summary document highlighting important issues associated with measuring the fair value of financial instruments when markets become inactive. The summary takes into consideration and is consistent with documents issued by FASB on Oct. 10 and by the Office of the Chief Accountant of the SEC and FASB staff on Sept. 30, according to an IASB news release. The guidance can be downloaded at www.iasb.org/expert-advisory-panel. A comprehensive summary of the IASB response to the credit crisis is available at www.iasb.org/credit+crisis.

 The IASB and FASB announced that they will create a global advisory group comprising regulators, preparers, auditors, investors and other users of financial statements. The advisory group will help to ensure that reporting issues arising from the global economic crisis are considered in an internationally coordinated manner. For more information, visit www.iasb.org or www.fasb.org.

PODCAST

What’s next for potential CPA licensure changes

A new model proposed by NASBA and the AICPA is designed with an eye on the future for newly licensed CPAs. The AICPA's Carl Mayes, CPA, provides background on the project and a look ahead to 2020.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.