Disclosures are an important and necessary component of financial reports. Disclosures support financial statements with relevant and necessary information. Disclosures are one of the primary means of understanding and explaining the numbers on the face of the financial statements.
A Focus on Disclosure Updates: The FASB’s Proposed Updates That Enhance Transparency Read More »
The Gramm-Leach-Bliley Act (GLBA) was passed by Congress in 1999 with bipartisan support. A component of the GLBA, its Safeguards Rule, was first established in 2003, and required organizations defined as “financial institutions” to establish measures to keep their customers’ private information secure.
Compliance With the Federal Trade Commission “Safeguards Rule” Read More »
The Financial Accounting Standards Board (FASB) hit a significant milestone in 2023. Established in 1973, the FASB is still going strong, after 50 years.
An important goal of the Financial Accounting Standards Board (FASB) is listening to the concerns, insights and other feedback of stakeholders. One primary concern communicated by stakeholders via the 2021 FASB invitation to comment on the Board’s agenda related to crypto assets.
The ESG movement is in full swing. Companies across industries now recognize that acting on and planning for environmental, social and governance (ESG) issues is an integral part of doing business in today’s economy.
If change is the only constant, then we understand the current dynamic economic environment will introduce challenges and opportunities. As a profession, we are learning how to better respond to the challenges and leverage the opportunities of the future. The discussion that follows provides some thoughts on some of the challenges and opportunities that are coming in 2023 and beyond.
Accounting in 2023: The Year Ahead Read More »