Accredited Investors & New Disclosure Rules

Accredited Investors & New Disclosure Rules

SEC recently altered certain rules for public company disclosures and paved the way for accredited investors to get increased access to the private capital market. In this respect, the amendments to Regulation S-K will result in simultaneous alterations to Public…

 Checklist for Successful Client Evaluation

Checklist for Successful Client Evaluation

The AICPA Statements on Quality Control Standards (SQCS) require firms to establish policies and procedures for the acceptance and continuance of client relationships and specific engagements. These apply to a CPA firm’s accounting and auditing practice, as well as any…

 Direct Examination Engagement (SSAE No. 21)

Direct Examination Engagement (SSAE No. 21)

Direct Examination Engagements (SSAE No. 21) focuses on non-financial subject matter reporting, where Practitioners can perform a direct client examination under AICPA Auditing Standards Board (ASB) guidelines. This engagement also allows a practitioner to evaluate underlying subject matter against defined…

 New Guidelines for Debt Modifications & Restructurings

New Guidelines for Debt Modifications & Restructurings

FASB recently published borrower guidelines on accounting for debt modifications and restructurings, LIBOR and other challenges which have emerged from the financial market impacted by COVID, along with guidance on benchmark interest rates, forwards and options accounting, and implementation relief…

 New Federal Lease Accounting Guidelines

New Federal Lease Accounting Guidelines

The Federal Accounting Standards Advisory Board (FASAB) and the Accounting & Auditing Policy Committee (AAPC) had released certain guidelines with regard to Federal entities, which mainly comprise: Accounting standards implementation Lease related amendments Advances from non-federal sources While the AAPC…

 Modernizing SOX Compliance

Modernizing SOX Compliance

Companies can follow these tips to create more effective Sarbanes-Oxley (SOX) self-assessment and monitoring procedures that help management correct issues and weaknesses before auditors arrive. Use Automated Dashboards Views in the form of dashboards, team sites summarizing performance, real-time financial…