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Audit & Accounting

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June 8, 2020

Top firms’ share of public co. audits creeps up

By Daniel Hood 1 min read

The Big Four increased their percentage of SEC audit engagements at the expense of the rest of the top 10 auditors in 2019.

FASB defers revenue recognition and leases standards for private companies and nonprofits due to coronavirus

By Michael Cohn 4 min read

The Financial Accounting Standards Board released an accounting standards update providing a one-year effective date delay for private companies and organizations to apply the revenue recognition and leases standards due to COVID-19, although they still have the option to apply the standards early.

Carillion loses bid to get KPMG documents ahead of U.K. lawsuit

By Ellen Milligan 2 min read

Defunct U.K. contractor Carillion Plc won’t be able to get key KPMG documents to prepare for a 250 million-pound ($314 million) negligence lawsuit against the accounting firm.

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Lease Accounting Fallout from COVID-19

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

CaseWare releases new cloud, AI solutions for auditors

By Ranica Arrowsmith 3 min read

As the coronavirus pandemic continues, the need for remote audit capabilities remains a prime concern.

Coronavirus and CECL affecting regulatory capital at banks

By Michael Cohn 3 min read

The pandemic and the new accounting standard are leading to lower regulatory capital ratios at global investment banks, according to a new report.