- The FASB updated U.S. GAAP to clarify that some routine changes to employee stock awards do not have to follow the stock compensation standard’s guidance for modified awards. Businesses had told the board that some modifications can be difficult to apply because of an overly broad definition for modification.
- Federal law requires the annual audit of a defined benefit or defined contribution retirement plan (including 401(k)) when the plan’s total eligible participants reach 100.
- FASB released new guidance simplifying the process for goodwill impairment testing for public companies and NFPs (when applicable).
- An auditor plays an important role for an organization and its stakeholders. We are pleased to share information about our focus on delivering high quality audit engagements and the policies our professionals adhere to in performing their work.
- Understand the nuances of internal controls over financial reporting (ICFR) for ASC 606 (revenue recognition), including transition methods discussed in this Financial Executives International (FEI) presentation.
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