Facing a backlash from audit firms about its proposal to toughen the standards for failing to detect noncompliance with laws and regulations, the Public Company Accounting Oversight Board has decided to delay action on the standard this year.
Day: November 15, 2024
PCAOB amendment addresses registration of inactive firms
The adopted rule empowers the PCAOB to withdraw the registration of firms that don’t file annual reports and don’t pay annual dues for two consecutive years.
Accountants eye sustainable business management
The Institute of Management Accountants released a report on why business sustainability depends on the competencies of management accountants.
Tech news: Asset-Map announces new features
Plus, TaxBit launches platform for both traditional and digital finance; Mastercard releases business solution platform; and other news.
Traps in accounting for stock-based compensation
Being careless in a company’s early years can make it hard to change from non-GAAP to GAAP standards when preparing for an IPO, sale or other exit.
Republican election sweep emboldens Trump’s tax cut dreams
The incoming GOP majorities in the House and Senate mean Trump can enact a tax bill without making concessions to Democrats.