Proposed quality management standards
The Auditing Standards Board has issued three proposed new standards for quality management at the firm and engagement levels.
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Additional updates to Coronavirus: Financial reporting considerations
Our white paper has been updated to reflect recent financial reporting developments resulting from the Coronavirus pandemic.
Ongoing updates to Coronavirus: Financial reporting considerations
Our coronavirus white paper has been updated for financial reporting matters related to the Consolidated Appropriations Act, 2021.
Deferred tax asset valuation allowance
Our article discusses weighting evidence in discerning whether a valuation allowance should be recognized for deferred tax assets.
Possible extension of TDR and CECL relief provided by CARES Act
Potential extension of the financial reporting relief related to TDRs and CECL provided to certain financial institutions in the CARES Act.
FASB proposes goodwill impairment triggering event alternative
FASB proposes a goodwill impairment triggering event alternative for certain private companies and not-for-profit entities.
GASB proposes implementation guidance
The GASB recently released a proposed implementation guide to address a wide array of practice issues related to GASB Statements.
COVID-19: Clarification on interagency statement on loan modifications
Clarifications have been provided on the interagency statement on loan modifications for customers affected by COVID-19.
Audit & Accounting Guide:
An updated AICPA guide addresses the unique aspects of the preparation and auditing of financial institution financial statements.
Audit & Accounting Guide for employee benefit plans updated
An updated AICPA guide addresses the unique aspects of the preparation and auditing of employee benefit plan financial statements.
New edition: Accounting for debt modifications and restructurings
We have published a new edition of our guide regarding the accounting for debt modifications, restructurings and exchanges.
FASB to propose goodwill impairment triggering event alternative
The FASB will propose an ASU that would provide a goodwill impairment triggering event alternative for certain entities.
Audit committee resource: Auditing estimates and use of specialists
A PCAOB resource provides information for audit committees about new requirements for auditing estimates and use of specialists.
2020 Effective Date Reminder
Our annual Effective Date Reminder lists pronouncements issued as of Nov. 1, 2020, which became effective on or after Jan. 1, 2020.
Proposed updates to ASC 842
The FASB recently proposed amendments to address certain issues arising from the adoption of the leases standard.
FASB Codification improvements
A recent FASB ASU makes minor technical corrections and clarifications to the Accounting Standards Codification.