Ideas & Insights

Certain financial reporting issues were discussed during a recent SEC Regulations Committee meeting with SEC staff members.

We recently updated our white paper to reflect the new goodwill accounting alternative provided in FASB ASU 2021-03.

We updated the discussion about certain government assistance in our Coronavirus: Financial reporting considerations white paper.

SAS No. 144 addresses the auditor’s use of specialists and use of pricing information obtained from external information sources.

The FASB has proposed allowing lessees that are not PBEs to make the risk-free rate election by class of underlying asset.

A recent GASB Exposure Draft addresses financial reporting requirements related to accounting changes and error corrections.

The GASB recently issued implementation guidance that clarifies, explains or elaborates on recent GASB Statements.

The IASB has issued amendments that will result in companies recognizing deferred tax on leases and decommissioning obligations.

A recent proposed ASU presents a portfolio layer method to allow multiple layers of a single closed portfolio to be hedged.

RSM is extending an exclusive offer to clients who are new subscribers to the Checkpoint accounting research package.

ASU 2021-04 clarifies the accounting for certain modifications or exchanges of freestanding equity-classified call options.

RSM’s Audit Quality and Risk Leader, Jamie Klenieski, recently was appointed to the AICPA National Peer Review Committee.

A recent CAQ Alert addresses auditor and audit committee considerations related to SPAC initial public offerings and mergers.

The OCC recently issued a Comptroller’s Handbook, which applies to OCC-supervised banks that have adopted ASU 2016-13.

Claire Blanton, RSM’s Director of Independence, Compliance and Ethics, now serves on the Professional Ethics Executive Committee.

The FASB staff recently made clarifying comments related to the new goodwill impairment triggering event alternative.

A recent roundtable identified practices to mitigate challenges in assessing the effectiveness of management review controls.

A recent IASB proposal addresses financial reporting situations in which exchangeability between two currencies is lacking.

The PCAOB staff recently issued an overview of its planned inspection focus areas and an accompanying audit committee resource.

The SEC recently issued a statement addressing certain liability risks for those participating in the endeavors of a SPAC.