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May 9, 2025

Are you aware of this May 30, 2025, filing deadline?

If you have a client that owns at least 10% of a foreign enterprise, they must file forms for the BE-10 survey.

May 1, 2025

FASB proposes guidance on accounting for debt exchanges

FASB published a proposed Accounting Standards Update on debt exchange transactions involving multiple creditors.

May 1, 2025

Evaluating fraud risks related to revenue recognition

Gain industry-specific and general insights for auditors related to identifying and assessing risks of material misstatement.

April 18, 2025

Financial Accounting Foundation issues annual report

FAF report highlights recent FASB and GASB actions and updates its strategic plan published three years ago.

April 15, 2025

What NFPs need to know about CECL

Guidance on current expected credit losses applies to some not-for-profit organizations. Find out when and how.

April 11, 2025

A&A Focus recap: PCC credit loss relief, federal funding freeze impact, and EBP audit updates

The April A&A Focus webcast featured a deep dive into step 4 of the five-step revenue recognition process outlined in FASB ASC Topic 606, as well as news on new auditing standards exposure drafts.

March 28, 2025

SEC ends legal defense of its climate rules

After a vote Thursday, the acting chair of the SEC described The Enhancement and Standardization of Climate-Related Disclosures for Investors as “unnecessarily intrusive.”

March 26, 2025

Amendment clarifies CPAs’ financial statement preparation engagements

The AICPA Accounting and Review Services Committee approved an update to SSARS No. 21, clarifying that practitioners are not required to apply AR-C Section 70 when financial statements are prepared as part of a consulting engagement. The practical implication is that the engagement would not be required to be subjected to quality management standards or peer review.

March 18, 2025