High Court refuses to review bank’s foreign tax credits August 24, 2017 The Supreme Court declined to review an appeals court ruling that the “trust” component of a Structured Trust Advantaged Repackaged Securities (STARS) transaction lacked economic substance.
Background: The U.S. Court of ...
Fewer restatements linked to stronger internal controls August 9, 2017 Publicly traded companies seem to be getting better at presenting reliable financial statements. In May, research firm Audit Analytics found that the total number of restatements dropped to 6.83% (or ...
Plain English reporting: Why transparency is the best policy August 9, 2017 Are you frustrated by complex accounting jargon? In the July 2017 issue of The Accounting Review, the American Accounting Association (AAA) published findings from a study it conducted which suggest ...
FASB pauses to allow companies to focus on major implementation projects August 9, 2017 Businesses are gearing up for some of the biggest accounting changes in decades. Meanwhile, the Financial Accounting Standards Board (FASB) is focused on making sure companies know how to implement ...
How auditors assess internal controls June 12, 2017 Why do auditors ask so many questions about their clients’ internal controls? Assessing internal controls is part of today’s auditing requirements. It helps identify risk factors — but the requirements ...
Down-round options: A divided FASB approves updated guidance June 12, 2017 In a 4 to 3 vote, the Financial Accounting Standards Board (FASB) agreed to finalize an update to U.S. Generally Accepted Accounting Principles (GAAP) that’s intended to simplify the accounting ...
The future of auditing: Technology brings opportunities and challenges June 12, 2017 If it seems like your auditor is always trying out new software, technology devices and analytical testing procedures, you’re not imagining it. Audit firms are continually investing in new technology ...
FASB issues new standard on callable debt May 15, 2017 In March, the Financial Accounting Standards Board (FASB) published an update to U.S. Generally Accepted Accounting Principles (GAAP) that will shorten the amortization period for premiums paid for callable debt ...
How diverse is your company’s board of directors? May 15, 2017 Diversity is a buzzword in strategic management today. In February, the Advisory Committee on Small and Emerging Companies recommended that the Securities and Exchange Commission (SEC) expand the disclosure rules ...
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