Lawmakers urge reconsideration of proposed auditor standards
A proposal to expand the requirements for auditors to identify, evaluate and communicate all company violations of laws and regulations ...
Tag: Audit
ABA to PCAOB: Confirmation process needs modernization beyond current proposal
The proposal as currently outlined doesn’t go far enough to consider current and future technical opportunities and risks, ABA says.
Podcast: Understanding the SEC’s climate risk disclosure proposal
Public comments for the Securities and Exchange Commission's sweeping climate risk disclosure proposal are due on June 17, with major ...
Audit committee expectations intensify as assets hit $1 billion
As banks approach two key asset thresholds—$500 million and especially $1 billion — they must begin preparing for new risks ...
Key Takeaways From the 2021 AICPA National Conference
This year's AICPA annual conference brought together key players in the bank accounting space, including banking agencies and banks and ...
Fed’s SCALE Method for CECL: Haze Lifted, Questions Remain
The Federal Reserve introduced its CECL Scalable CECL Allowance Estimator, or SCALE, method and tool during an “Ask the Fed” ...
FDIC Provides Temporary Audit Relief for Banks with COVID-Bulked Balance Sheets
For banks that have experienced rapid and possibly short-term inflows of assets and deposits during the coronavirus pandemic, the FDIC ...
ABA Receives SEC Preclearance on MSLP Accounting
The Securities and Exchange Commission today informed ABA that it does not object to the association’s conclusion that Main Street ...
Financial Services Hearing Spotlights Lawmakers’ Serious Concerns About CECL
Insights from ABA staff expert Josh Stein on the recent FASB oversight hearing.
SEC Proposes Updates to Auditor Independence Framework
The Securities and Exchange Commission proposed changes to modernize its auditor independence framework last updated in 2003.
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