Independent Audits of Nonprofit Organizations With Douglas Cook
PLI's inSecurities Podcast - (Remedial) Accounting Summer School
New Revenue Recognition Standard-Part V, What does it all mean?
For nearly two decades since its enactment in 2005, PCAOB Rule 3502 prohibited any “person associated with a registered public accounting” firm from taking or omitting to take an action knowingly or recklessly in a way that...more
At its Summer National Meeting in Chicago (August 12-15, 2024), the NAIC announced important guidance relating to the statutory accounting treatment of insurance companies’ investments in bank credit risk transfer (“CRT”)...more
On July 18, 2024, the U.S. District Court for the Southern District of New York dismissed most of the claims brought by the Securities and Exchange Commission (the “Commission”) against SolarWinds Corp. and its Chief...more
The classification of a transaction as either a business combination or an asset acquisition for financial reporting purposes has recently received greater attention. The differences between the two types of transactions can...more
Over the past month, the Federal Housing Administration (FHA) has enacted and proposed several changes to its Defect Taxonomy. The Defect Taxonomy is contained in Appendix 8 to FHA Handbook 4000.1. The Defect Taxonomy was...more
On June 27, 2024, the Office of Federal Procurement Policy’s Cost Accounting Standards (CAS) Board issued an advanced notice of proposed rulemaking (ANPRM) seeking public comments on proposed changes to the Cost Accounting...more
The federal government awards billions of dollars each year in sponsored research funding to institutions of higher education, academic research institutions, non-profit organizations, and companies—making federal grants an...more
What are the tax accounting rules for hedges? Whether or not a qualified tax hedge is properly identified, it must be tax accounted for under a method that clearly reflects income. The timing of gains and losses on hedges...more
One of the keys to success when providing professional services is to understand your client and their business environment. Whether your company is a closely held family business, publicly traded, or a municipality,...more
The Public Company Accounting Oversight Board (PCAOB) expanded its enforcement activity to the highest level since 2017, according to a new report released today by Cornerstone Research. Monetary penalties imposed by the...more
Total value of settled accounting cases also increased in 2023 - A new report released by Cornerstone Research shows an increase of nearly 10% in the number of securities class action filings involving accounting...more
The U.S. Securities and Exchange Commission expanded its accounting and auditing enforcement activity in fiscal year 2023, while monetary settlements dropped for the second consecutive year, according to a new report released...more
The Financial Accounting Standards Board (FASB) was quite active at the end of 2023 and published two notable Accounting Standards Updates (ASUs) that are expected to meaningfully affect public company disclosures regarding...more
The FASB has announced a final Accounting Standards Update designed to improve disclosures about public companies’ reportable segments, particularly disclosures about significant segment expenses—information that the FASB...more
The purpose of this document is to provide an overview of the key developments around reforming the UK capital markets regime following Lord Hill’s UK Listings Review, launched on 19 November 2020 as part of the UK...more
The new standard aims to improve accounting treatment of certain digital assets under GAAP and may pave the way for increased institutional adoption. On September 6, 2023, the Financial Accounting Standards Board (FASB)...more
SWIFT Publishes Blockchain Pilot Findings; Firms Announce USDC Integrations - According to a recent press release, the Society for Worldwide Interbank Financial Telecommunication (Swift) recently published a report with...more
Environmental law NGO ClientEarth has written to the Global Public Policy Committee (GPPC), which brings together representatives of the six large international accounting organizations, to request greater transparency and...more
Welcome to EO Radio Show – Your Nonprofit Legal Resource. Many nonprofit organizations are required to have their financial statements audited by an independent certified public accountant. For example, a nonprofit charity...more
FASB is moving ahead with new requirements for more information about public company expenses, approaching the issue from two perspectives: disaggregation of income statement expenses and segment reporting. More specifically,...more
Introduction - On June 29, the Federal Energy Regulatory Commission (FERC or Commission) issued Order No. 898, a final rule that revises FERC’s Uniform System of Accounts (USofA) by adding functional detail concerning the...more
On June 2, 2023, the European Financial Reporting Advisory Group (EFRAG) issued a draft letter requesting comments on the International Sustainability Standards Board’s (ISSB) proposal to improve the international...more
Due to new standards issued by the Financial Accounting Standards Board (FASB) in late 2022, companies with supply chain financing are now required to comply with additional disclosures intended to monitor and understand the...more
The OCC, FDIC, NCUA and Fed have adopted a new Policy Statement on Prudent Commercial Real Estate Loan Accommodations and Workouts. The new policy statement updates, expands on and supersedes existing guidance from 2009,...more
On March 23, 2023, the International Accounting Standards Board (IASB) commenced a new “maintenance” project to “explore whether and how financial statements can better communicate information about climate-related risks.”...more