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SAS 136: The communication of reportable findings

SAS 136: The communication of reportable findings

SAS 136 includes requirements to communicate reportable findings identified as a result of testing relevant plan provisions.
SAS 136: The ERISA Section 103(a)(3)(C) audit election

SAS 136: The ERISA Section 103(a)(3)(C) audit election

Plan administrators should consider all implications of an ERISA Section 103(a)(3)(C) election before the election is made.
Disclosures by business entities about government assistance

Disclosures by business entities about government assistance

ASU 2021-10 will require business entities to disclose information about certain types of government assistance they receive.
SAS 136: Preparation before year end

SAS 136: Preparation before year end

Before year end, plan administrators or trustees and their auditors should discuss certain preconditions of the audit.
2021 Effective Date Reminder

2021 Effective Date Reminder

This document lists pronouncements that became effective on or after Jan. 1, 2021 or are not yet effective as of Nov. 1, 2021.
Financial institutions and the phase out of LIBOR

Financial institutions and the phase out of LIBOR

We have updated our white paper regarding the fundamentals of LIBOR phase out and transition for financial institutions.
GASB renames the comprehensive annual financial report

GASB renames the comprehensive annual financial report

The GASB has changed the term “comprehensive annual financial report” to “annual comprehensive financial report.”
OCC’s “Bank Accounting Advisory Series” – 2021 edition

OCC’s “Bank Accounting Advisory Series” – 2021 edition

The OCC recently issued its views on a variety of accounting topics relevant to the financial institutions industry.
SAS 136: Changes for employee benefit plans and their auditors

SAS 136: Changes for employee benefit plans and their auditors

SAS 136 will affect audits of employee benefit plans subject to ERISA effective for periods ending on or after December 15, 2021.
Recipient accounting for SVOG and RRF grants

Recipient accounting for SVOG and RRF grants

The AICPA has issued recipient accounting guidance for Shuttered Venue Operators Grants and Restaurant Revitalization Fund grants.
PRF distributions: Delayed reporting and new reporting portal

PRF distributions: Delayed reporting and new reporting portal

HHS recently opened the Provider Relief Fund Reporting Portal and published a related User Guide and FAQ document.
Accounting for certain leases with variable lease payments

Accounting for certain leases with variable lease payments

ASU 2021-05 addresses the accounting for a lease with variable lease payments that do not depend on a reference index or a rate.
Coronavirus: Updates about certain Provider Relief Fund requirements

Coronavirus: Updates about certain Provider Relief Fund requirements

We updated the discussion about certain government assistance in our Coronavirus: Financial reporting considerations white paper.
GASB proposal: Accounting changes and error corrections

GASB proposal: Accounting changes and error corrections

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

GASB issues Exposure Draft regarding compensated absences

A recent GASB Exposure Draft proposes a unified model for the recognition and measurement of all types of compensated absences.
FASB to finalize goodwill impairment triggering event alternative

FASB to finalize goodwill impairment triggering event alternative

FASB votes to finalize a goodwill impairment triggering event alternative for private companies and not-for-profit entities.