A Conversation with PCAOB Chair Erica Williams
Thomson Reuters recently had a conversation with U.S. Public Company Accounting Oversight Board (PCAOB) Chair Erica Williams during a sunny …
Security Summit Produces Sample Written Information Security Plan for Tax Professionals
The Security Summit—a partnership between the IRS, state tax agencies and the tax industry—has released a 29-page document titled “Creating …
U.S. Income Statement Accounting Rules Could Change to Require Specifics About Labor Costs
The FASB is studying a plan that could require companies to break out more information in income statements about labor …
In a Surprising Move, FASB Drops Project on Subsequent Accounting of Goodwill
The FASB on June 15, 2022, unanimously voted to drop its project on identifiable intangible assets and the subsequent accounting …
New Global Sustainability Rulemaker Says it’s on Track to Issue ESG Disclosure Rules by Year-End
Though it still only has two members, the International Sustainability Standards Board (ISSB) on May 18, 2022, said it is …
Investors Applaud SEC Stance on Accounting Treatment of Customers’ Cryptos as Commissioner Peirce Criticizes It
A group of investors wants the SEC not to be deterred by strong pushback from the crypto industry against the …
Who Should Provide ESG Assurance?
Compounding an already complicated question related to a potential requirement for standardized environmental, social, and governance (ESG) reporting is who …
Is SEC Making Audit Regulatory Board Too Political?
When SEC Chair Gary Gensler in early June 2021 abruptly fired embattled PCAOB Chairman William Duhnke and said all five …
Accounting Profession Says SEC ESG Rulemaking Should Leverage Work Done By Private Standard-Setters
Judging by comment letters filed with the SEC, the accounting profession seems to be coalescing around an environmental, social, and …
Top 5 Accounting Issues to Master to Avoid Snags in SPAC IPOs
Use of Special purpose acquisition (SPAC) vehicles have spiked over the past year because private equity and venture capital firms …