Audit & Accounting

FASAB is looking for input on a proposed interpretation of the federal financial accounting standards for cancelled debt.

The Financial Reporting Executive Committee posted draft versions of its interpretations of the Financial Accounting Standards Board’s new long-duration insurance accounting standard.

LeaseCrunch Verify allows firms to add client accounts from one dashboard and enter and test a sample size of their leases.

The American Institute of CPAs and the Chartered Institute of Management Accountants jointly released guidance Tuesday for auditing and accounting for the risks of digital assets such as cryptocurrency.

The goal of the offset market is to reduce emissions, but without clear accounting and strict regulations there’s a big risk of greenwashing.

A sizable chunk of private companies still aren’t ready to implement the new lease accounting standard before the end of the year, despite postponements in the deadline due to the pandemic.

Auditors are taking advantage of the remote auditing capabilities they used during the pandemic to do more types of audits and expand priorities like fraud detection and cybersecurity.

Three of the biggest obstacles businesses face are financial instability, bringing employees back to the office, and developing a COVID-19 vaccine policy. Accountants can help clients through each of these areas.

Regulating preparers, modernizing old tech and beefing up cryptocurrency reporting would yield $700 billion, according to a new report.

Knowing where your client’s business stands financially has never been more critical for its financial health than now.