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We are committed to bringing you the latest news and impacts related to the Coronavirus and business operations—COVID-19 Resources. In addition, we can help navigate the challenges ahead.

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Effective System of Quality Control Documents

Posted by Wendy Reedy on March 15, 2020

Wendy Reedy Wendy Reedy

Every firm with an audit and assurance practice required to comply with the Statement on Quality Control Standard No. 8 (SQCS No. 8) must have a written Quality Control Document.

Read more

Structuring Cloud Computing Arrangements to Ensure They Have a Positive Impact on Key Financial Indicators

Posted by Wendy Reedy on November 17, 2015

In April 2015, the Financial Accounting Standards Board (“FASB”) issued new guidance* on accounting for fees paid for cloud computing arrangements. How you structure your …


Read more

FASB Update: Simplifying Income Statement Presentation

Posted by Wendy Reedy on January 16, 2015

On January 9, 2015, the FASB issued ASU [Accounting Standards Update] 2015-01, Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating …


Read more

FASB Issues Pushdown Accounting Option

Posted by Wendy Reedy on January 13, 2015

Pushdown accounting is the reflection of the fair value of assets acquired and liabilities assumed in a business acquisition to the acquired entity’s financial statements.


Read more

VIE Consolidation Exemption and Other Accounting Updates

Posted by Wendy Reedy on February 25, 2014

Private Company Council – Generated US GAAP Updates VIE Consolidation Exemption On February 19, 2014, the Financial Accounting Standards Board (“FASB”) endorsed the Private Company …


Read more

Cost of Living Adjustments for Retirement and Health & Welfare Benefit Plans

Posted by Wendy Reedy on December 7, 2013

The IRS has released the 2014 Cost-Of-Living Adjustments for Retirement Plans and for Health and Welfare Benefit Plans. Retirement Plans Only changes are noted in …


Read more

The Status of the Convergence of IFRS and US GAAP Revenue Recognition

Posted by Wendy Reedy on August 15, 2012

Revenue recognition has been one of the most difficult topics for the International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) to address …


Read more

Liquidation Basis of Accounting

Posted by Wendy Reedy on August 15, 2012

Prior to the FASB recently issuing the proposed Accounting Standards Update (ASU), minimal guidance was present to apply The Liquidation Basis of Accounting. Consequently, there …


Read more

Financial Reporting Format for Small and Medium Sized Entities

Posted by Wendy Reedy on July 12, 2012

The AICPA has issued an FAQ on the Financial Reporting Framework (“FRF”) for Small and Medium Sized Entities (“SMEs”) that contains a relatively short design …


Read more

Exposure Draft Released on New Lease Accounting Standards

Posted by Wendy Reedy on July 9, 2012

In August 2010, the International Accounting Standards Board (“IASB”) and Financial Accounting Standards Board (“FASB”), collectively called “the Boards,” issued an exposure draft on the …


Read more

Accounting Standards on Accounting for Leases

Posted by Wendy Reedy on March 1, 2011

The exposure draft has been issued and the comment period is over. The comment letters received identified several matters the FASB and IASB recognize require …


Read more

Preparing for Your Employee Benefit Plan Audit

Posted by Wendy Reedy on February 28, 2011

As we head into spring, the audit of your employee benefit plan is likely nearing if you sponsor a plan with over 120 eligible participants.


Read more

More Risk & Responsibility for Fiduciaries of Employee Benefit Plans

Posted by Wendy Reedy on December 20, 2010

Recent changes in the Department of Labor (DOL) and Internal Revenue Code regulations have created significant discussion regarding the required disclosure of fees for employee …


Read more

Changes to Review and Compilation Engagements

Posted by Wendy Reedy on November 10, 2010

The Statement on Standards for Accounting and Review Services (“SSARS”) No. 19, as issued by the Accounting and Review Services Committee (“ARSC”), is said to …


Read more

Fiduciary Responsibility Check List

Posted by Wendy Reedy on April 30, 2010

In addition to compiling documentation which will be requested by your Plan auditor, there are a few things plan sponsors should do annually to ensure …


Read more

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Effective System of Quality Control Documents

Posted by Wendy Reedy on March 15, 2020

Wendy Reedy Wendy Reedy

Every firm with an audit and assurance practice required to comply with the Statement on Quality Control Standard No. 8 (SQCS No. 8) must have a written Quality Control Document.

Read more

Structuring Cloud Computing Arrangements to Ensure They Have a Positive Impact on Key Financial Indicators

Posted by Wendy Reedy on November 17, 2015

In April 2015, the Financial Accounting Standards Board (“FASB”) issued new guidance* on accounting for fees paid for cloud computing arrangements. How you structure your …


Read more

FASB Update: Simplifying Income Statement Presentation

Posted by Wendy Reedy on January 16, 2015

On January 9, 2015, the FASB issued ASU [Accounting Standards Update] 2015-01, Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating …


Read more

FASB Issues Pushdown Accounting Option

Posted by Wendy Reedy on January 13, 2015

Pushdown accounting is the reflection of the fair value of assets acquired and liabilities assumed in a business acquisition to the acquired entity’s financial statements.


Read more

VIE Consolidation Exemption and Other Accounting Updates

Posted by Wendy Reedy on February 25, 2014

Private Company Council – Generated US GAAP Updates VIE Consolidation Exemption On February 19, 2014, the Financial Accounting Standards Board (“FASB”) endorsed the Private Company …


Read more

Cost of Living Adjustments for Retirement and Health & Welfare Benefit Plans

Posted by Wendy Reedy on December 7, 2013

The IRS has released the 2014 Cost-Of-Living Adjustments for Retirement Plans and for Health and Welfare Benefit Plans. Retirement Plans Only changes are noted in …


Read more

The Status of the Convergence of IFRS and US GAAP Revenue Recognition

Posted by Wendy Reedy on August 15, 2012

Revenue recognition has been one of the most difficult topics for the International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) to address …


Read more

Liquidation Basis of Accounting

Posted by Wendy Reedy on August 15, 2012

Prior to the FASB recently issuing the proposed Accounting Standards Update (ASU), minimal guidance was present to apply The Liquidation Basis of Accounting. Consequently, there …


Read more

Financial Reporting Format for Small and Medium Sized Entities

Posted by Wendy Reedy on July 12, 2012

The AICPA has issued an FAQ on the Financial Reporting Framework (“FRF”) for Small and Medium Sized Entities (“SMEs”) that contains a relatively short design …


Read more

Exposure Draft Released on New Lease Accounting Standards

Posted by Wendy Reedy on July 9, 2012

In August 2010, the International Accounting Standards Board (“IASB”) and Financial Accounting Standards Board (“FASB”), collectively called “the Boards,” issued an exposure draft on the …


Read more

Accounting Standards on Accounting for Leases

Posted by Wendy Reedy on March 1, 2011

The exposure draft has been issued and the comment period is over. The comment letters received identified several matters the FASB and IASB recognize require …


Read more

Preparing for Your Employee Benefit Plan Audit

Posted by Wendy Reedy on February 28, 2011

As we head into spring, the audit of your employee benefit plan is likely nearing if you sponsor a plan with over 120 eligible participants.


Read more

More Risk & Responsibility for Fiduciaries of Employee Benefit Plans

Posted by Wendy Reedy on December 20, 2010

Recent changes in the Department of Labor (DOL) and Internal Revenue Code regulations have created significant discussion regarding the required disclosure of fees for employee …


Read more

Changes to Review and Compilation Engagements

Posted by Wendy Reedy on November 10, 2010

The Statement on Standards for Accounting and Review Services (“SSARS”) No. 19, as issued by the Accounting and Review Services Committee (“ARSC”), is said to …


Read more

Fiduciary Responsibility Check List

Posted by Wendy Reedy on April 30, 2010

In addition to compiling documentation which will be requested by your Plan auditor, there are a few things plan sponsors should do annually to ensure …


Read more

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  • From the President
  • Industrial Automation
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  • Podcasts
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Read news direct from our managers and stakeholders.

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  • Beth Butchart
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  • Carlos Calderon
  • Casey Haggerty
  • Clayton & McKervey
  • Dave Van Damme
  • Denise Asker
  • Eric Lin
  • Jim Biehl
  • Julie Killian
  • Kevin Johns
  • Margaret Amsden
  • Miroslav Georgiev
  • Nina Wang
  • Rob Dutkiewicz
  • Ruben Ramirez
  • Sarah Russell
  • Sue Tuson
  • Tarah Ablett
  • Teresa Gordon
  • Tim Finerty
  • Tim Hilligoss
  • Wendy Reedy

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