- A recent survey shows the majority of private companies contemplating initial public offerings are not prepared to follow the FASB’s sweeping revenue standard in 2018, reporting that only 8 percent of those polled were ready to implement the revenue standard, which goes into effect in 2018 for public companies.
- The FASB’s controversial proposal to require banks to disclose new information about risks from interest rate fluctuations is officially dead. The board agreed to remove it from its research agenda as it staked out its future standard-setting priorities.
- The AICPA’s Auditing Standards Board is planning to issue a proposal in October to expand the auditor’s report as part of its effort to align its standards with the guidance from the International Auditing and Assurance Standards Board. The proposal is expected to incorporate proposed amendments from another project that addresses an auditor’s examination of financial statement disclosures.
- We are pleased to provide comment to the PCAOB regarding the recently issued proposed auditing standard related to auditing estimates, including fair value measurements, and the related proposed amendments to auditing standards related to the auditor’s use of the work of specialists.
- If your organization is in the process of adopting, or still researching, the new revenue recognition accounting standard, then this comprehensive, yet easy-to-read, 60+ page eBook is for you.
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