Companies penalize audit firms for flagging their own weaknesses
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Audit & Accounting
August 19, 2019
Upcoming Events August 19, 2019
AICPA drafts guidance on CECL
By Michael Cohn      2 min read
The American Institute of CPAs’ Financial Reporting Executive Committee is offering some advice on issues related to the new credit losses standard.
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Companies penalize audit firms for flagging their own weaknesses
By Michael Cohn      4 min read
Auditing firms that tend to find material weaknesses in companies’ internal controls are seen as less attractive in the audit market, according to a new study.
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GASB offers implementation guide on lease accounting
By Michael Cohn      1 min read
The Governmental Accounting Standards Board has released questions and answers about the recent standard on accounting and financial reporting for leases by state and local governments.
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GE sinks most in 11 years as Madoff accuser excoriates accounting
By Tony Robinson and Katherine Chiglinsky      4 min read
General Electric shares plunged after a prominent whistle-blower working with a short-seller accused the company of masking financial problems.
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FASB issues proposal to delay new standards
By Michael Cohn      2 min read
The board wants to give private companies, nonprofits, and certain small public companies extra time to implement new standards on CECL, leases and hedging.
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