Agencies Reconcile Volcker, Basel III Capital Deduction Guidance
The federal banking regulators today issued guidance on the methodology banks can use to deduct investments from tier 1 capital...
Tax and Accounting
Fed Staff Want Scalability for New Impairment Accounting
During a conference call yesterday with more than 3,000 participants, Federal Reserve Board staff indicated that the Financial Accounting Standards...
U.S. Begins Foreign Tax Information Exchanges Under FATCA
The IRS today announced that it has begun exchanging financial account information with foreign tax authorities as part of its...
OCC Updates Accounting Resource
The OCC yesterday released an updated version of its Bank Accounting Advisory Series that provides accounting guidance for accountants at...
ABA Cautions SEC on Audit Committee Disclosures
Warning the SEC that a stringent governance process is no guarantee that financial statements will never need restatement, ABA yesterday...
ABA Urges Restraint in PCAOB Proposal
ABA recently urged the Public Company Accounting Oversight Board to emphasize enforcement of current audit requirements relating to the work...
ABA Cautions FASB on Stock Option Proposal
ABA yesterday warned the Financial Accounting Standards Board that a proposed change in accounting for stock options will subject a...
ABA Hires Kinsella as Top Tax Expert
ABA today announced that John Kinsella has been named its new VP for tax policy. Kinsella joined ABA from U.S....
SEC Proposal on Audit Committee Disclosures: Will Investors Care?
As if audit committees (ACs) don’t have enough to worry about in the post Sarbanes-Oxley (SOX) era, the SEC is...
