Audit & Accounting

All eyes will be on the large SEC registrants in January as they become the first financial institutions to adopt the current expected credit loss model, or CECL.

The reporting requirements will be in effect for government entities beginning Dec. 15 for all reporting periods subsequent to that date.

Filing should be easier this time, but that doesn’t mean there aren’t steps you can take to make things better.

The two proposals would offer guidance on implementing the Financial Accounting Standards Board’s new standards for long-duration insurance contracts and credit losses.

The seven characteristics of a strong firm compensation plan.

Customers can upload their documents and get matched with a tax pro.

The American Institute of CPAs’ Digital Assets Working Group has released a practice aid to offer guidance on how to account for and audit digital assets such as Bitcoin and other forms of cryptocurrency.

The Securities and Exchange Commission is proposing a set of amendments to the auditor independence rules that have been in place since the early 2000s, allowing firms more leeway in determining conflicts of interest and shortening the lookback period for clients planning to go public.

Many consumer industry companies extend credit or hold significant financial assets. If yours is one of them, it’s time to gear up for the current expected credit loss (CECL) accounting standard.

Technology should be an ongoing part of your business.