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Christian Wheeler | 1.15.2020

Evaluating a Firm’s System of Quality Control

On December 17, 2019, the Public Company Accounting Oversight Board (PCAOB) voted to issue a concept release on a potential approach to revisit the PCAOB’s

Your Institution Received a Gramm-Leach-Bliley Act Finding in 2019 – Now What?

The Gramm-Leach-Bliley Act (GLBA) is a federal ruling that applies to all entities that collect consumer financial data, including institutions of higher

Six Tips for Writing Effective Internal Audit Reports

You’ve successfully planned and executed your audit. Now, it’s time to communicate your findings to the client, board, or committee. Here are
Audit
Adam Goode | 10.22.2019

Reference Rate Reform

Regulators will no longer require panel banks to contribute to the London Interbank Offered Rate (LIBOR) post 2021. Contributing panel bank departures

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Audit
John Sullivan | 10.17.2019

FASB Votes to Delay Leases, Hedging and CECL Effective Dates for Private Companies and Certain Other Entities

On Wednesday October 16, 2019, the FASB unanimously voted to delay the effective dates of three major Accounting Standards Updates (ASUs) for private companies
Audit, IFRS
Jeremy Ferkatch | 8.9.2019

Revenue Recognition: GAAP vs. IFRS: What this Means for Your Company

Accountants in America are currently under pressure to comply with Accounting Standard Update 2014-09, “Revenue from Contracts with Customers,”

Delay in New FASB Standard Will Impact Financial Services

As we reported earlier, on July 17 the Financial Accounting Standards Board (FASB) voted unanimously to move forward with delaying the effective start
Audit
Adam Goode | 7.17.2019

Proposed Accounting Standard Update Would Delay Private Company Effective Dates for Leases, Current Expected Credit Losses (CECL) and Hedging Updates by One Year

On July 17, 2019, the Financial Accounting Standards Board (FASB) voted unanimously to move forward with delaying the effective start date for recent accounting

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IASB Proposes Annual Improvements for 2019

On May 21st, the International Accounting Standards Board (IASB) proposed four amendments for this year’s improvement consideration of the International
Audit
Adam Goode | 5.9.2019

Is It Time to Overhaul the Income Statement?

The changes to revenue recognition (ASC 606) and lease accounting (ASC 842) are now squarely in the rearview mirror for most public companies. And even

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