IASB

The Public Company Accounting Oversight Board may begin asking auditors to look at cybersecurity when assessing risks at the companies they audit.

The companies are giving their customers access to both Chargebee’s subscription billing system and Softrax’s Revenue Manager revenue recognition software.

The valuation piece currently presents the biggest challenge—and question mark—for accountants and the organizations they serve.

The Financial Accounting Standards Board held a roundtable discussion on its new credit losses standard, with some mid-tier banks asking it to reconsider.

The International Accounting Standards Board voted to propose a one-year delay, so the new rules would take effect in 2022, instead of 2021.

The International Integrated Reporting Council, the Sustainability Accounting Standards Board, the Global Reporting Initiative and the Carbon Disclosure Project are working to harmonize standards.

Last month a very strange thing happened.

The new lease accounting standard that takes effect for public companies next year poses obstacles for the audit firms that have begun implementing it for their clients.

Financial institutions around the world are revising how they estimate credit losses.

The International Accounting Standards Board is considering changes in how to account for goodwill under International Financial Reporting Standards, perhaps reintroducing goodwill amortization.

Walgreens, CVS and AT and T top the list of U.S. companies with the most operating lease liabilities that will need to be added to their balance sheets under the new leasing standard, according to a new report.

Erkki Liikanen, a former governor of the Finnish Central Bank, has been named chair of the IFRS Foundation trustees, the group that oversees the International Accounting Standards Board and the International Financial Reporting Standards they develop.

Axiom, a provider of legal contract technology, has introduced the Contracts Intelligence Platform for Lease Accounting to help organizations uncover embedded leases that are subject to the new lease accounting standard.

KPMG is partnering with analytics provider SAS on helping banks make the transition to the current expected credit loss, or CECL, accounting standard that begins to take effect in January 2020.

Does your organization have an implementation plan and adequate system in place that will meet the new requirements?

Now is the time to start preparing for the next big accounting standard.

Accounting and finance organizations for many multinational businesses are currently working to create plans for two separate standards.

Wesley Bricker said the commission is keeping an eye on a number of new developments in accounting standards and financial reports.

The first step is to admit there’s a problem.

Larry Smith, who served as a member of the Financial Accounting Standards Board from 2007 until 2017, is watching some of the standards he worked on for a decade now being rolled out, but he believes the board should be doing more on performance reporting and the FASB Accounting Standards Codification.