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Our Audit & Attest Insights keep you informed of the latest news in accounting, audit, tax and advisory.

Large Accelerated Filers are Getting Larger, and so Will Non-Accelerated FilersFeatured

Article

Large Accelerated Filers are Getting Larger, and so Will Non-Accelerated Filers
Improving Oversight: DOL Report Highlights Deficiencies in Employee Benefit Plan Audits
Article
February 20, 2024
Improving Oversight: DOL Report Highlights Deficiencies in Employee Benefit Plan Audits
    February 20, 2024
    Improving Oversight: DOL Report Highlights Deficiencies in Employee Benefit Plan Audits

    In a recent report released by the U.S. Department of Labor (DOL), a spotlight has been cast on the current state of employee benefit plan (EBP) financial statement audits.
      FASB Enhances Income Tax Disclosures with New Standard
      Article
      January 11, 2024
      FASB Enhances Income Tax Disclosures with New Standard
        January 11, 2024
        FASB Enhances Income Tax Disclosures with New Standard

        The Financial Accounting Standards Board (FASB) has released an Accounting Standards Update (ASU) aimed at improving the transparency of income tax disclosures in response to investor demands for more detailed and useful tax information from companies.
          FASB Issues Standard 2023-05 to Improve Accounting for Joint Venture Formations
          Article
          December 31, 2023
          FASB Issues Standard 2023-05 to Improve Accounting for Joint Venture Formations
            December 31, 2023
            FASB Issues Standard 2023-05 to Improve Accounting for Joint Venture Formations

            On August 23, 2023, the Financial Accounting Standards Board (FASB) issued Business Combinations – Joint Venture Formations (Subtopic 805-60) to address joint venture formations with respect to business combinations.
              Roadmap to Estimating Credit Losses
              Article
              December 20, 2023
              Roadmap to Estimating Credit Losses
                December 20, 2023
                Roadmap to Estimating Credit Losses

                This article explores a roadmap to estimating expected credit losses under the CECL framework and provides a step-by-step guide.
                  FASB Introduces New Standard for Crypto Asset Accounting and Disclosure
                  Article
                  December 20, 2023
                  FASB Introduces New Standard for Crypto Asset Accounting and Disclosure
                    December 20, 2023
                    FASB Introduces New Standard for Crypto Asset Accounting and Disclosure

                    In a move to enhance the transparency and accuracy of financial reporting for crypto assets, the Financial Accounting Standards Board (FASB) has announced the release of an updated Accounting Standards Update (ASU).
                      Decoding CECL: Here Are Key Concepts You Need to Know
                      Article
                      November 08, 2023
                      Decoding CECL: Here Are Key Concepts You Need to Know
                        November 08, 2023
                        Decoding CECL: Here Are Key Concepts You Need to Know

                        This article represents the first installment in a series examining the intricacies of the Current Expected Credit Loss (CECL) standard.
                          Important Changes Affecting Entities With Federally Funded Programs Subject to a Single Audit
                          Article
                          September 14, 2023
                          Important Changes Affecting Entities With Federally Funded Programs Subject to a Single Audit
                            September 14, 2023
                            Important Changes Affecting Entities With Federally Funded Programs Subject to a Single Audit

                            The U.S. OMB issued the 2023 Compliance Supplement with two important changes. Learn how this affects entities with federally funded programs

                              Property Improvement Analysis for Building Owners
                              Article
                              September 11, 2023
                              Property Improvement Analysis for Building Owners
                                September 11, 2023
                                Property Improvement Analysis for Building Owners

                                With 100% bonus depreciation phasing out in 2023, taxpayers are reminded of the benefits of Tangible Property Regulations.
                                  Accounting for Fair Value Amidst Uncertainty: Triggering Events & Other Impairment Updates
                                  Article
                                  May 09, 2023
                                  Accounting for Fair Value Amidst Uncertainty: Triggering Events & Other Impairment Updates
                                    May 09, 2023
                                    Accounting for Fair Value Amidst Uncertainty: Triggering Events & Other Impairment Updates

                                    Today’s economy is marked by volatility, and recessionary potential continues to bloom; this mix of indicators necessitates a focus on accounting for asset impairment.
                                      ASU 2023-02 Expands Applicability of Guidance on Investments in Tax Credit Structures
                                      Article
                                      April 11, 2023
                                      ASU 2023-02 Expands Applicability of Guidance on Investments in Tax Credit Structures
                                        April 11, 2023
                                        ASU 2023-02 Expands Applicability of Guidance on Investments in Tax Credit Structures

                                        On March 29, 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2023-02.
                                          Why You Need a Data Warehouse: What It Is and How Can It Help
                                          Article
                                          February 27, 2023
                                          Why You Need a Data Warehouse: What It Is and How Can It Help
                                            February 27, 2023
                                            Why You Need a Data Warehouse: What It Is and How Can It Help

                                            How can business leaders distill meaning from the data flooding their organizations, sharpening information gleaned from across the company into informed strategy?
                                              Relief for Common Control Leasing Arrangements is Almost Here
                                              Article
                                              February 21, 2023
                                              Relief for Common Control Leasing Arrangements is Almost Here
                                                February 21, 2023
                                                Relief for Common Control Leasing Arrangements is Almost Here

                                                The Financial Accounting Standards Board (FASB) recently voted to approve an update to Accounting Standards Codification (ASC) Topic 842, Leases.
                                                  FASB Extends Expedient for Reference Rate Reform
                                                  Article
                                                  January 10, 2023
                                                  FASB Extends Expedient for Reference Rate Reform
                                                    January 10, 2023
                                                    FASB Extends Expedient for Reference Rate Reform

                                                    Reference rate reform is one of the important changes to monitor. Get more information as FASB extends expedient for reference rate reform.
                                                      Accounting for Natural Disasters in the Wake of Hurricane Ian
                                                      Article
                                                      November 21, 2022
                                                      Accounting for Natural Disasters in the Wake of Hurricane Ian
                                                        November 21, 2022
                                                        Accounting for Natural Disasters in the Wake of Hurricane Ian

                                                        CFOs have to ensure business interruptions are taken care of after a natural disaster. See what your business interruption plan should cover.
                                                          Cryptocurrency News Explained: FASB Agrees on Accounting for Digital Assets
                                                          Article
                                                          October 18, 2022
                                                          Cryptocurrency News Explained: FASB Agrees on Accounting for Digital Assets
                                                            October 18, 2022
                                                            Cryptocurrency News Explained: FASB Agrees on Accounting for Digital Assets

                                                            The crypto world is abuzz after the Financial Accounting Standards Board’s (FASB) momentous vote to propose that bitcoin and similar digital assets should be measured at fair value.