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Audit & Assurance

October 2021 Audit & Assurance Newsletter

FASB alters accounting for certain leases with variable lease payments

FASB recently issued a standard that is designed to improve the board’s lease accounting rules related to a lessor’s accounting for certain leases with variable lease payments.  read more  Journal of Accountancy

FASB proposal addresses fair value and equity security sale restrictions

FASB is proposing a clarification to U.S. GAAP that would explain that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the security and therefore is not considered in measuring fair value.  read more  Journal of Accountancy

Lease accounting: Private companies on the clock after delay

In early 2020, the COVID-19 pandemic added another element of business disruption for organizations to manage while the effective dates to comply for FASB’s new lease accounting standards were quickly approaching.  read more  Journal of Accountancy

EBP audits set for major changes, more transparency

Employee benefit plan (EBP) audits and reporting will be quite different in the near future as changes in generally accepted auditing standards take effect.  read more  Journal of Accountancy

5 steps to successful ESG reporting

As investor demands and regulatory requirements lead towards more disclosure of environmental, social, and governance (ESG) data, company leaders are faced with difficult decisions.  read more  Financial Management

 

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