August 2015

August 10, 2015

Ninth Circuit holds mortgage-interest deduction applies on a per-taxpayer basis

Unmarried co-owners of two qualified residences each qualified for mortgage-interest deductions on up to $1.1 million of acquisition indebtedness the Ninth Circuit Court of Appeals held.

August 10, 2015

IASB may delay new rules for transactions with associates, joint ventures

The International Accounting Standards Board (IASB) is reviewing whether it moved too quickly on narrow-scope amendments to IFRS 10 and IAS 28.

August 10, 2015

Hiring and enrollments reached record highs last year

Enrollment in accounting programs and hiring of new graduates by accounting firms are at all-time highs. Master’s degrees are taking off, too, and firms will need to get creative in their pursuit of in-demand talent.

August 7, 2015

FASB exposure drafts propose amended standards for derivatives and hedging

FASB is seeking comments on two Proposed Accounting Standards Updates related to derivatives and hedging.

August 5, 2015

SEC approves CEO pay ratio rule

The SEC approved a new rule requiring U.S. public companies to disclose the ratio between their CEO’s compensation and that of their median employee.

August 5, 2015

Proposed IFRS taxonomy updates released

Taxonomy updates to reflect new reporting standards were proposed by the IFRS Foundation. Comments can be made through Oct. 30.

August 4, 2015

IAASB proposes changes to reporting on summary financial statements

The International Auditing and Assurance Standards Board has released proposed changes related to reporting on summary financial statements.

August 3, 2015

Can auditors expand assurance to meet investors’ needs?

Joe Ucuzoglu, CPA, chairman and CEO of Deloitte’s U.S. audit practice, says expanding assurance opportunities would increase the value auditors provide.