Critical Audit Matters – CAMs

Identifying CAMs: The new-and-improved auditor’s report Public company auditors have been conducting test runs to help them add critical audit matters (CAMs) to the auditor’s report. To comply with this new Public Company Accounting Oversight Board (PCAOB)...

Credit Loss Standards – Phase In Option

New phase-in option for credit losses standard Bank regulators have completed a rule that will allow banks to phase in the capital effect of the new credit losses accounting standard over a three-year period. The relief comes amid growing banker angst about the impact...

Reporting the Effects of Tax Reform

The Financial Accounting Standards Board (FASB) continues to monitor how companies and their auditors are tackling the financial reporting ramifications of the major new provisions of the Tax Cuts and Jobs Act (TCJA). For now, no new guidance is in the works, though...