Audit & Accounting

The Financial Accounting Standards Board has come under pressure to relax its credit losses standard as banks and other financial institutions see the value of their assets plunging from the sell-off in the capital markets amid the coronavirus pandemic.

CohnReznick's newly installed CEO, David Kessler, shares the challenges facing his Top 100 Firm and the profession at large — as well as how the firm has reacted to the coronavirus.

Officials and employees are working from home and doing inspections of U.S. audit firms remotely to protect them from infection.

The first quarter is quickly coming to an end, and finance teams around the country are busy preparing for questions from the board.

Plans for internal audits often don’t take into account some of the most common risks, such as cybersecurity, governance and sustainability, according to a new report from the Institute of Internal Auditors.

Coronavirus is an opportunity for the accounting profession to make strides in two important areas.

The American Institute of CPAs’s Financial Reporting Committee released working drafts of two pieces of implementation guidance for the Financial Accounting Standards Board’s long-duration insurance contracts standard.

More than half of compliance officers believe they don’t have enough resources to carry out their function adequately, and nearly a third say their auditing and monitoring process is insufficient, according to a new survey.

Practitioners are working on education, prevention and remediation.

The Financial Accounting Standards Board issued the Current Expected Credit Loss (CECL) accounting standard in 2016. Since then, many questions have been raised about what it requires, particularly by financial services companies.