Audit Standards

The Portfolios provide a detailed description of the five steps corporations will need to employ in recognizing revenue and offer practical insight to professionals within corporations responsible for implementing and complying with the new standard.

The Financial Accounting Standards Board (FASB) has issued two exposure drafts related to its disclosure framework project. The public, including accounting professionals and other stakeholders, have until December 8, 2015, to review and comment on ...

FASB also offers free CPE webcast to look at taxonomy changes, simplification and guidance issues.

Example disclosure topics include food safety, labeling & marketing integrity, climate change adaptation, and supply chain management. The standards average six topics per industry, and 71 percent of metrics are quantitative.

The Financial Accounting Standards Board (FASB) today issued guidance intended to improve private company financial reporting regarding accounting for identifiable intangible assets in a business combination. FASB Accounting Standards Update No. 2014-18, Business Combinations (Topic 805): Accounting for Identifiable Intangible Assets in a Business Combination, is based on a consensus reached by the Private Company […]

The Public Company Accounting Oversight Board (PCAOB) has released a report that provides information about registered audit firms' implementation and compliance with Auditing Standard No. 7, Engagement Quality Review.