The Governmental Accounting Standards Board has released guidance in the form of questions and answers to help state and local governments apply its standards.
The latest guide also includes amendments to some previously issued implementation guidance. Its requirements are effective for reporting periods starting after June 15, 2019, though GASB is encouraging early application for guidance related to standards that already have been implemented.
The guide is
The Public Company Accounting Oversight Board voted to adopt amendments that ease the requirements of its QC 1000 quality control standard for auditing firms.
The Institute of Internal Auditors wants the SEC to reject a proposal to give newly listed companies up to five years to establish an internal audit function.
Sharon Osbourne filed to remove Colin Newman, her late husband Ozzy's long-term accountant, as an executor of the rock star's estimated $100 million estate.
The Governmental Accounting Standards Board released a discussion memorandum on the design of the GASB-GAAP Taxonomy and digitization of government financial statements.
The update changes how investment companies such as mutual funds can measure the fair value of an equity security subject to a contractual sale restriction.
Caseware announced upgrades that allow users to bring its AI agents into Microsoft Excel, along with an AI-first evolution of its Client Requests feature.
