- Reports of inaccurate reporting of institutional data highlight the risks to institutional reputation and ranking/standing. Learn how to preserve the integrity of data reporting in higher education.
- The International Auditing and Assurance Standards Board (IAASB) said Martin Baumann, the PCAOB’s chief auditor from 2009 to 2018, will become its chairman for a three-year term. The International Federal of Accountants (IFAC), the IAASB’s parent organization, said Baumann was joining the IAASB at a time of rapid change for financial reporting and auditing.
- Banking regulators said they plan to finalize a rule to ease the effect on capital of the FASB’s credit loss standard by the first quarter of 2019. The rule change offers banks the option to phase in, over a period of three years, the “adverse effects” on regulatory capital they expect when they adopt the FASB’s credit loss standard.
- In June 2018, FASB issued ASU No. 2018-08, Topic 958. Many institutions have difficulty analyzing their grants and contracts under the ASU. Learn how to implement the standard in higher education.
- Beginning in 2018, taxpayers may be eligible for a 20 percent deduction on QBI from a partnership, S corporation or sole proprietorship.
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