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Audit & Assurance

February 2021 Audit & Assurance Newsletter

FASB approves private company and NFP goodwill triggering event alternative

FASB responded to an urgent pandemic-related accounting concern by voting to provide private companies and not-for-profits with an alternative to the requirement to monitor and evaluate goodwill impairment triggering events throughout the fiscal year and potentially measure a goodwill impairment at the date of triggering events. read more   – Journal of Accountancy

FASB simplifies revenue recognition for private company franchisors

Private company franchisors will be able simplify their revenue recognition accounting under a standard recently issued by FASB. read more   – Journal of Accountancy

ESG reporting and attestation roadmap

The AICPA and the Center for Audit Quality released a guide providing a roadmap for environmental, social and governance reporting and attestation for accountants. read more   – Center for Audit Quality
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