Audit & Accounting

The Federal Accounting Standards Advisory Board has issued an interpretation of some recent standards involving cost provisions among multiple entities who are liable for cleanup costs.

The discussion paper explains some of the challenges when a subject can’t be measured quantitatively.

The Public Company Accounting Oversight Board has released its latest yearly report on its inspections of firms that audit broker-dealers and found deficiencies remain at a high level.

The proposed update would give insurers an extra year to implement the new rules.

Michael Morrow will be the new chair of the Financial Accounting Standards Advisory Council, and new members are joining the Private Company Council.

Most CPAs are familiar with the tax benefit of using an IC-DISC, but many do not realize the additional benefit that can be generated by a different method of calculation.

A former Walt Disney accountant has accused the company of overstating revenue for years and has filed whistleblower tips with the SEC.

Shredding paper documents and destroying digital files are critical for data security.

His analysis underscored how sweeping accounting changes coming in the next few years are raising questions for the life insurance industry.

The American Institute of CPAs’ Financial Reporting Executive Committee is offering some advice on issues related to the new credit losses standard.