The International Accounting Standards Board (IASB) on Thursday proposed changes to its conceptual framework, which provides a foundational underpinning for financial reporting under IFRS. In an exposure draft, Conceptual Framework for Financial Reporting, the IASB proposes changes that would include: A new chapter on measurement, describing appropriate measurement bases (historical
The International Accounting Standards Board (IASB) published its proposal to delay by one year the effective date of the new revenue recognition standard.
The US Financial Accounting Standards Board’s (FASB) efforts to resolve challenges with the new revenue recognition standard continued when the board formally proposed targeted changes that are intended to clarify guidance related to identifying performance obligations and licensing.
New rules proposed by a divided US Securities and Exchange Commission (SEC) would require public companies to disclose the relationship between executive compensation and the company’s financial performance.
The US Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update that would delay the effective date of the new, converged revenue recognition standard by one year.
The International Accounting Standards Board (IASB) voted to propose a one-year delay in the effective date of the new, converged revenue recognition standard. The decision follows requests from financial statement preparers.
Compliance functions often take precedence over analysis for finance staffs, according to a new report. Also, a majority of finance executives are dissatisfied with their organisation’s approach to annual budgeting, data from Grant Thornton and the American Productivity and Quality Center show.
New international auditing standard revisions are designed to increase auditors’ involvement with information outside audited financial statements that is included in entities’ annual reports, also known as “other information.”
Additional changes to the converged revenue recognition standard will be proposed by the Financial Accounting Standards Board and International Accounting Standards Board.
Fifty-five per cent of North American chief audit executives have been asked at least once to omit or modify an important audit finding, according to new research. Here’s how internal auditors can maintain their objectivity in the face of such pressure.
A global survey by Deloitte shows that employee engagement is a rising concern and that organisations seem to be falling behind as they try to re-imagine ways to manage and develop their workforce.
Just 40% of companies consider the management information provided by their finance function to be insightful, according to a Deloitte finance benchmarking survey. The report highlights three areas where action is needed if finance teams are to more effectively support decision-making.
Root cause analysis of audit issues has the potential to bring about significant improvements in audit quality, audit regulators said while presenting results of a global survey of audit inspection findings.
Auditors of UK companies are finding innovative ways to improve the transparency of their audit reports, and many are going beyond the requirements published in June 2013, according to an FRC study of 153 extended auditor’s reports.
International convergence of the new revenue recognition standard may decrease as a result of clarifying revisions that will be proposed by the Financial Accounting Standards Board and the International Accounting Standards Board.
A recent KPMG survey shows that 64% of US companies are uncertain about the path they’ll take to adopt the new, converged revenue recognition standard.
The US Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) decided to propose clarifying certain areas of the converged revenue recognition standard that are causing implementation problems for some financial statement preparers.
The staff of the FASB plans to report results of research on two key revenue recognition issues to the board next month – and report to the board early in the second quarter of 2015 on research related to a possible deferral in the effective date in the new, converged standard.
