- A liquidation may present several obstacles to be navigated by the organization, one such obstacle being the accounting.
- The PCAOB staff is drafting a supplemental request for comment for its proposed rule that is intended to strengthen the standards for the lead auditors when supervising other the other accounting firms that are working on an audit. The PCAOB staff has been analyzing issues raised in comment letters by accounting firms in response to the original proposal, and the supplemental document is likely to ask for detailed comments on the specific concerns raised during the original round of comments.
- The IASB is considering adding two subtotals to the statement of financial performance — earnings before finance income/expenses and tax (EBIT) and a new, yet-to-be-defined “management performance measure.” The board’s most recent discussion about the effort raised questions about how it should proceed that the standard-setter is not sure how to answer.
- The SEC published additional interpretive guidance to explain its expansion of the confidential filing process for registration statements for initial public offerings (IPO) to all companies. The guidance explains how companies that do not satisfy the definition of an emerging growth company can make use of the confidential filing process.
- Included in this e-Book is valuable insight from the SEC Office of the Chief Accountant, as well as a comprehensive guide produced by Baker Tilly on how to effectively scrutinize internal controls over financial reporting beyond what most organizations are currently doing.