How firms can continue to improve audit quality | FASB aims to ease pain of implementing lease accounting, other standards | US finance executives strongly positive about 2018
Time is running short in the revenue recognition implementation effort as public companies must adopt the Financial Accounting Standards Board's new standard at the beginning of 2018. Gathering information needed to make new disclosures is one of the most pressing concerns for financial-statement preparers as the deadline approaches.
Big investments by firms have led to improved audit quality in recent years, says Public Company Accounting Oversight Board member Jeanette Franzel. But she says audit-deficiency reductions have plateaued and calls on firms to take steps to drive better quality.
New technology and demands from regulators are encouraging tax and accounting departments to take a forward-looking approach to fight financial wrongdoing. Tax departments may be able to pick out evidence of trade-based money laundering in addition to other criminal activity.
There are many tax considerations corporations must evaluate during a merger or an acquisition. Here are issues to track after either a stock or an asset deal.
Having too few expert contributors working on an innovation project may cause the team to lose focus, but having too many can also backfire by making it difficult to develop new ideas. Focus on building a company culture that puts people in roles in which they are able to excel and enables experts to admit gaps in their knowledge.
Employees can pose a serious threat to sensitive data, as cybercriminals may dupe them into exposing important information. Here are three common tactics hackers may use -- including sending phishing emails and attacking vulnerabilities in personal devices -- and tips for preventing breaches.
Offering financial incentives to whistleblowers can backfire, a study indicates. Such incentives often are paid only when the amount recovered meets a certain threshold -- a policy that can lead potential whistleblowers to engage in a cost-benefit analysis rather than striving to act in a manner consistent with their morals.
When you get into a tight place, and everything goes against you till it seems as if you couldn't hold on a minute longer, never give up then, for that's just the place and time that the tide'll turn.
The
American Institute of CPAs
(AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries,
and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry,
public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards
for private companies, not-for-profit organizations, federal, state and local governments. It develops and grades the Uniform CPA
Examination and offers credentials for a number of specialized areas. With The Chartered Institute of Management Accountants (CIMA), it
offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in
management accounting.
