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.

SPONSORED REPORT

Tax reform changes are now in effect

With all the recent tax law changes, this year it’s more important than ever to make sure your clients’ tax situations are squared away before year end. This report provides necessary guidance to ensure 2019 starts without a hitch.

PODCAST

Using drones to enhance audits

Hermann Sidhu, CPA, global assurance digital leader at EY, walks us through EY’s exciting new project to use drones to help audit large warehouses and outdoor inventories.