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Ideas & Insights

 









Financial Reporting Insights

SEC Staff Accounting Bulletin No. 119

SAB No. 119 includes SEC staff interpretations regarding policies and procedures for developing CECL models and related matters.


Financial Reporting Insights

2019 Audit Committee Transparency Barometer

A recent publication by the CAQ and Audit Analytics gauges how audit committees approach communication of oversight activities.


Financial Reporting Insights

2019 Effective Date Reminder

Our Effective Date Reminder lists pronouncements issued as of Nov. 1, 2019, which became effective on or after Jan. 1, 2019.






Financial Reporting Insights

PCAOB audit committee resource: CAMs

The PCAOB recently released insights for audit committees regarding the auditor’s communication of critical audit matters.



Financial Reporting Insights

Transitioning away from LIBOR

The FASB has added a project to its agenda to address accounting changes necessitated by reference rate reform.





Financial Reporting Insights

PCAOB guidance on communication of CAMs

Recent PCAOB guidance focuses on questions that may arise when the auditor is communicating critical audit matters under AS 3101.


Financial Reporting Insights

External auditor assessment tool updated

The Center for Audit Quality has released an updated tool to assist audit committees in the assessment of the external auditor.


Financial Reporting Insights

PCAOB staff guidance on Rule 3526(b)

The PCAOB staff recently provided guidance regarding how auditors are to comply with certain provisions of Rule 3526.

















Financial Reporting Insights

Critical audit matters: Lessons learned

A recent CAQ publication shares observations from dry runs performed with respect to the communication of critical audit matters.








Financial Reporting Insights

SEC disclosure update and simplification

The SEC recently amended certain disclosure requirements that have become redundant, outdated, overlapping or superseded.











Financial Reporting Insights

FASB issues ASU 2018-04

The FASB removed from its Codification SAB Topic 5.M and certain guidance for public utility holding companies.