September 27, 2024
The chair of the Federal Accounting Standards Advisory Board, George A. Scott, announced today that the Board issued Statement of Federal Financial Accounting Standards (SFFAS) 64, Management’s Discussion and Analysis: Rescinding and Replacing SFFAS 15, and Statement of Federal Financial Accounting Concepts (SFFAC) 10, Omnibus Concepts Amendments 2024: Amending SFFAC 2 With Note Disclosures and MD&A Concepts and Rescinding SFFAC 3.
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September 15, 2024
The quality of financial reports encourages, fosters and promotes public trust, which is an important tenet of public confidence.
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September 9, 2024
The Securities and Exchange Commission today approved the Public Company Accounting Oversight Board’s (PCAOB) new quality control (QC) standard and related amendments to its standards, rules, and forms.
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August 20, 2024
The Securities and Exchange Commission today announced that it has approved two Public Company Accounting Oversight Board (PCAOB) proposals updating audit standards regarding general responsibilities of the auditor and use of technology-assisted analysis in conducting an audit.
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July 22, 2024
The executive director of the Federal Accounting Standards Advisory Board (FASAB) and chair of the Accounting and Auditing Policy Committee (AAPC), Monica R. Valentine, announced today the issuance of Technical Release (TR) 23: Omnibus Technical Release Amendments 2024: Conforming Amendments to Technical Releases 10, 16, 20, and 21.
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July 15, 2024
As practitioners and clients turn the corner from busy season and begin planning and risk assessment in the coming months, now is a good time for a refresher on recently promulgated updates as well as current Financial Accounting Standards Board (FASB) exposure drafts and projects with exposure drafts expected soon for future planning implications.
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July 12, 2024
The Financial Accounting Standards Board (FASB) today issued a new chapter of its Conceptual Framework related to the measurement of items recognized in financial statements.
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June 21, 2024
The executive director of the Federal Accounting Standards Advisory Board (FASAB), Monica
R. Valentine, announced today that FASAB staff has issued Technical Bulletin (TB) 2024-1,
Seized and Forfeited Digital Assets.
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June 12, 2024
The Public Company Accounting Oversight Board (PCAOB) today adopted amendments to two PCAOB auditing standards, AS 1105, Audit Evidence, and AS 2301, The Auditor’s Responses to the Risks of Material Misstatement, addressing aspects of audit procedures that involve technology-assisted analysis of information in electronic form.
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June 12, 2024
The Public Company Accounting Oversight Board (PCAOB) today approved the adoption of an amendment to PCAOB Rule 3502, previously titled Responsibility Not to Knowingly or Recklessly Contribute to Violations.
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