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Audit & Accounting

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April 6, 2020

FASB mulls pushing back accounting standards deadlines in response to coronavirus

By Michael Cohn 3 min read

The Financial Accounting Standards Board will be meeting next week to discuss the impact of the novel coronavirus pandemic on its stakeholders, including pushing back the effective dates of some of its upcoming accounting standards.

Complete coverage of the coronavirus impact

Accounting Today has launched a comprehensive feed of our coronavirus coverage, with analysis of its impact and how the profession is responding.

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KPMG reprimanded, again, and fined $560K for audit failings in U.K.

By Hugo Miller 2 min read

KPMG and one of its senior partners have been reprimanded and fined 455,000 pounds ($560,000) for failings in its audit of a U.K. company, the latest sanction against the Big Four auditor in recent years.

GASB releases guidance on LIBOR transition

By Michael Cohn 2 min read

The Governmental Accounting Standards Board published guidance to help state and local governments transition move to newer reference rates that are less prone to market manipulation.

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Lease Accounting Fallout from COVID-19

Rent concessions, discount rates and more critical lease accounting topics affected by Coronavirus

Make the move to a culture of quality audits

By Alan Anderson and Corey Schmidt 5 min read

A better audit isn’t measured by the number of forms completed.

IRS accepting email and digital signatures on tax documents due to coronavirus

By Michael Cohn 2 min read

The Internal Revenue Service is now accepting email and digital signatures on tax documents to make it easier for tax professionals and taxpayers to communicate with the agency during the novel coronavirus pandemic.

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