Audit & Assurance

FASB staff Q&As address hedge accounting amid the pandemic FASB’s staff recently addressed hedge accounting issues related to the coronavirus pandemic in a staff Q&A document posted to the board’s website

If your company has received or will be receiving a loan from the Paycheck Protection Program (PPP), it is important to track the activity of these funds in great detail, with supporting documentation for all expenses

AICPA issues audit and accounting guidance FAQs on COVID-19 A new AICPA report provides nonauthoritative guidance addressing frequently asked audit and accounting questions related to the coronavirus pandemic

How the coronavirus may affect financial reporting and auditing The coronavirus pandemic has the potential to create significant changes for CPAs who prepare company financial statements — and for auditors as well

In 2015, the Department of Labor issued a critical report noting serious auditing deficiencies found in 39% of employee benefit plan audits

ARSC further converges SSARSs with international standards and aligns closer with GAAS The AICPA Accounting and Review Services Committee (ARSC) recently issued a new Statement on Standards for Accounting and Review Services (SSARS) that amends four sections of SSARS No