By Michael Cohn October 26, 2015 The Financial Accounting Standards Board and the International Accounting Standards Board have delayed the effective date of their converged revenue recognition standard for a year, but companies are going to need the extra time to get their systems adjusted. PricewaterhouseCoopers recently issued a report on the technology and process
The CAQ highlights nine areas auditors will want to pay particular attention to in the next audit cycle. Clickear imágen para ir a presentación…… Things to Watch Out For 1 de 10 The Center for Audit Quality recently published a report, “Select Auditing Considerations for the 2015 Audit Cycle,” that
By Neil Amato October 22, 2015 The SEC filed more than 800 enforcement actions and obtained orders totaling about $4.2 billion in disgorgement and penalties in the 2015 fiscal year, which ended Sept. 30. There were 807 actions filed during the fiscal year, the commission said Thursday. Of them, a record 507 were independent actions
Internal auditors with advanced levels of education, training and certifications are seeing bigger salaries, according to a new survey. Richard Chambers The survey, from the Audit Executive Center at the Institute of Internal Auditors, found a strong correlation between higher internal audit salaries and experience, education and professional certifications. Overall, salary increases were modest, albeit
A hacker who claims to have broken into the AOL account of CIA Director John Brennan says he obtained access by posing as a Verizon worker to trick another employee into revealing the spy chief’s personal information. Using information like the four digits of Brennan’s bank card, which Verizon easily relinquished, the hacker and his
By Ken Tysiac October 19, 2015 The tasks performed by newly licensed CPAs have changed in recent years. The Uniform CPA Examination is evolving to reflect those changes. “Tasks that an entry-level CPA may have done in the past are now either largely mechanized through electronic mediums” or are being handled by non-CPAs, said Rick
September 15, 2015 While you may be sold on the dream of cloud accounting, your clients might need some more convincing. Use this tips & tricks guide for educating business owners on the benefits of cloud accounting. What is the Cloud? Your clients may ask you, “So what is the cloud?” A great example to
By Ken Tysiac October 15, 2015 he PCAOB is urging audit firms to review their systems and procedures to promote compliance with the board’s Risk Assessment Standards. The Risk Assessment Standards—Auditing Standards (AS) No. 8 through No. 15—were adopted in 2010. The standards address the auditor’s assessment of and response to risk of material
New York (October 13, 2015) By Michael Cohn The number of accountants who belong to professional accounting organizations that are members of the International Federation of Accountants grew 16 percent from 2.4 million to 2.8 million between 2009 and 2013. Fayez Choudhury The growth in membership of professional accountancy organizations, or PAOs, far exceeded
By Ken Tysiac October 12, 2015 Professional skepticism and internal control over financial reporting are two key areas for auditors that have attracted the focus of regulators in recent years. These areas are among those addressed in one of two risk alerts published Monday by the Center for Audit Quality (CAQ), which is affiliated with
2 octubre, 2015 Seguridad por Ariana Hernández Para nadie es un secreto que así como Bitcoin ha sido utilizada para buenos fines, también ha sido empleada para llevar a cabo operaciones ilegales como estafas y lavado de dinero. Una tecnología que fue pensada para ofrecerle a sus usuarios la oportunidad de manejar su dinero de una
Washington, D.C. (October 7, 2015) By Michael Cohn The leaders of the Senate Finance Committee are asking Volkswagen about the federal tax credits given to buyers of its vehicles for owning energy-efficient cars, amid revelations that the automaker programmed its devices to cheat emissions tests. Orrin Hatch Senate Finance Committee chairman Orrin Hatch, R-Utah,
The IFRS for SMEs Update is a staff update about news relating to the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs). The Update is published on a regular basis, with news about adoptions, resources, and implementation guidance. Past editions are accessible below. To receive the IFRS for SMEs Update as
October 3, 2015 By Jeff Stimpson A roundup of our favorite recent tax fraud cases. Peabody, Mass.: Preparer Barry Ginsberg, 63, has been sentenced to 21 months in prison and six months of home confinement and been ordered to pay restitution after pleading guilty to multiple counts of mail and wire fraud, preparing false returns
Washington, Oct. 2, 2015 The Public Company Accounting Oversight Board today announced a settled disciplinary order against (PDF) David A. Aronson, CPA, and his firm, David A. Aronson, CPA, P.A., in the PCAOB’s first order in which a settling respondent admitted to a disciplinary order’s facts, findings, and violations. In today’s order, the Board censured both
Norwalk, Conn. (September 30, 2015) By Michael Cohn The Financial Accounting Standards Board has issued a proposed accounting standards update to improve the guidance on collectibility, noncash consideration, and completed contracts at transition in the new revenue recognition standard. The amendments in the proposed update would also provide a practical expedient for contract modifications at
September 29, 2015 By Daniel Hood The Securities and Exchange Commission announced that Trinity National Corp. and its wholly owned subsidiary, Los Alamos Bank, have agreed to pay $1.5 million to settle charges of accounting fraud. In its quarterly and annual filings with the SEC for 2010, 2011 and the first two quarters of 2012,
By Ken Tysiac September 25, 2015 FASB issued new guidance Friday designed to simplify accounting for adjustments made to provisional amounts recognized in a business combination. The requirement to retrospectively account for those adjustments is eliminated by the amendments in Accounting Standards Update No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments.
24 September 2015 The IFRS Foundation is pleased to announce the publication of the following translations: French translation of the Exposure Draft Clarifications to IFRS 15, published by the IASB in English in July 2015. Comments to be received by 28 October 2015. This document can be accessed via the ‘Comment on a proposal’ webpage.
Norwalk, CT, September 24, 2015—The Financial Accounting Standards Board (FASB) today issued for public comment two exposure drafts related to its disclosure framework project. Stakeholders are encouraged to review and comment on both exposure drafts by December 8, 2015. The objective of the Disclosure Framework project is to improve the effectiveness of disclosures in notes
London (September 23, 2015) By Daniel Hood The International Accounting Standards Board proposed temporary measures to address worries over conflicts between a standard that has been issued, and another that isn’t due for a year. The concerns center around challenges that might arise in the implementation of IFRS 9, Financial Instruments, which was issued last
Sutton, Mass. (September 22, 2015) By Michael Cohn Approximately 1,100 public companies changed their audit firms in 2014, a number approximately the same as in 2013, although one company managed to change its audit firm three times last year while another changed its audit firm for the first time since 1890. The research firm Audit
By Michael Cohn September 21, 2015 PricewaterhouseCoopers has released a useful report demonstrating the many differences that remain between U.S. GAAP and International Financial Reporting Standards. Despite more than a decade of work on converging the two sets of accounting standards, they are still far apart in many respects. When the Securities and Exchange Commission’s
15 September 2015 Speaking today at a conference in London, Hans Hoogervorst, Chairman of the International Accounting Standards Board (IASB), said the forward-looking expected loss model in the new financial instruments Standard should provide investors with better insight on loan loss risks. The conference is the third annual event for financial services institutions organised jointly
Se encargará de dirigir la entidad que vigila a las auditoras La carrera para cubrir uno de los puestos mejor pagados de la administración estadounidense ha comenzado en la capital de Estados Unidos, Washington D.C. Al menos tres candidatos están ya situados en la línea de salida, cuya meta es la dirección del Public
London (September 11, 2015) By Michael Cohn The International Accounting Standards has issued an amendment to its revenue recognition standard, IFRS 15 Revenue from Contracts with Customers, formalizing the deferral of the effective date by one year until 2018. The IASB and the U.S. Financial Accounting Standards Board issued the long-awaited converged revenue recognition standard
11 September 2015 The International Accounting Standards Board (IASB) today issued an amendment to the revenue Standard, IFRS 15 Revenue from Contracts with Customers, formalising the deferral of the Effective Date by one year to 2018. The publication of the amendment, Effective Date of IFRS 15, follows from the IASB’s decision in July to defer
By Michael Cohn September 9, 2015 The Securities and Exchange Commission will be poring over the comments it received on its recent proposal to toughen audit committee disclosures after the comment deadline expired Tuesday. Back in July, the SEC issued a 55-page concept release proposing a set of revisions in audit committee disclosure requirements with
New York (September 8, 2015) By Michael Cohn Two-thirds of accounting, finance and business professionals believe regulation is having a significant or very significant impact on their organizations’ opportunities to grow and innovate, according to a new survey by the International Federation of Accountants. Fayez Choudhury Meanwhile, 79 percent of the survey respondents reported that
September 7, 2015 By Edward Mendlowitz Much of an accountant’s work is done at the client’s premises. However, whenever we are there, it is an intrusion on their routine. We need to remember we are guests and should remain “out of sight.” Well, let me tell you what happened early on in my career. I
FOR IMMEDIATE RELEASE August 24, 2015 Media Contact: Greg Hernandez (202) 898-6984 Email: email@example.com The Federal Deposit Insurance Corporation (FDIC) today released the summer 2015 issue of Supervisory Insights. The lead article, “Strategic Planning in an Evolving Earnings Environment,” highlights the critical role of corporate governance and strategic planning in navigating a challenging operating environment.
El 25 de agosto pasado se realizó la Asamblea Anual de la Asociación de Auditores Externos de Chile A.G. (AE Chile) con una alta participación del personal directivo de las principalesFirmas Auditoras que operan en nuestro país. En la ocasión se analizó la creciente importancia de esta actividad profesional en un entorno de negocios más
Certify, a company that specializes in expense management software, wants to draw attention to the problem of expense report fraud. It cites research from J.P. Morgan that U.S. companies will spend $186 billion on T&E expenses in 2015, $1 billion of which will be lost to fraud. The median loss for organizations last year due
Menlo Park, Calif. (September 2, 2015) By Michael Cohn Average starting salaries in accounting and finance are expected to rise 4.7 percent next year, according to a new salary guide from the staffing company Robert Half. The 2016 Salary Guide forecasts steady demand for professionals such as business systems analysts, staff accountants and financial analysts.
Norwalk, Conn. (September 1, 2015) By Michael Cohn The Financial Accounting Standards Board released the proposed 2016 GAAP Financial Reporting Taxonomy for public review and comment Tuesday. The proposed 2016 taxonomy contains updates for accounting standards and other recommended improvements to the official taxonomy, which is used by public issuers registered with the Securities and
Con la asistencia de la totalidad de los directores de las firmas auditoras que existen en el mercado y que pertenecen a AEChile (Asociación de Auditores Externos AG), el 20 de mayo del 2015 se efectuó un encuentro con sus Asociados para analizar el Tema de Control Interno asociado al Reporte Financiero. Para dicha
Nota del Editor de AECHILE Introducción Dado el interés en el tema, publicamos esta documentación; uno de los aspectos importantes es la adopción de pérdida esperada y no incurrida Se acompañan dos documentos: >> IFRS 9 Financial Instruments Descargar (adobe acrobat pdf 130 KB) >> KPMG First Impresssions Descargar (adobe
Como apoyo al programa que lleva a cabo la Superintendencia de Bancos e Instituciones Financieras (SBIF), la Asociación de Auditores Externos A.G. y el Colegio de Contadores de Chile –en conjunto con el Regulador-, realizaron el Encuentro sobre Educación Financiera para Pymes, con el objeto de analizar la distribución del crédito en Chile, normas IFRS
AL 31 DICIEMBRE 2014 entidades fiscalizadas por la SVS . Circular de Auditoría N° 29 del Colegio de Contadores de Chile A.G Con fecha 20 de noviembre de 2014, el Consejo Nacional del Colegio de Contadores de Chile A.G aprobó la Circular de Auditoría Nº 29, con el objeto de referirse al informe del auditor
Encuentro Educación Financiera para Pymes JUEVES 11 Diciembre 08:30 horas Aula Magna Consejo Nacional del Colegio de Contadores de Chile Raúl Muñoz Valle, Presidente Nacional del Colegio de Contadores de Chile y José Monsalve Assef, Presidente de la Asociación de Auditores Externos, los invitan a participar en un encuentro sobre “Educación Financiera para Pymes”.
Con fecha 15 de septiembre de 2014, el directorio de AEChile aprobó por unanimidad la incorporación de Moore Stephens Auditores Consultores Limitada como miembro de la Asociación de Auditores Externos de Chile A.G. Moore Stephens firma miembro de Moore Stephens – International, será representada ante la entidad gremial por el socio de la compañía, Sr
Introducción Se acompaña presentación de la señora Soledad Recabarren, Socia de la Firma EY,efectuada en la Asamblea Anual de esta Asociación, ayer 26 de agosto del 2014. Cabe hacer presente que también intervinieron en esta exposición, los Socios Tributarios señores Alvaro Mecklenburg de Deloitte, Francisco Selamé de PwC y Francisco Lyon de KPMG, quienes hace
DESCARGAR BORRADOR REGLAMENTO CONSENTIMIENTO EXPRESO (PDF)
Se acompañan las presentaciones en powerpoint hechas el 11 de junio del 2014 en la Comisión de Hacienda del Senado de Chile por las siguientes Firmas de Auditoría Externa: – Deloitte ( Sres .Pablo Vera y Alvaro Mecklenburg ) – PwC ( Sres Francisco Selamé y Miguel Rencoret ) – EY ( Sres Pablo Greiber
REFORMA EUROPEA DE LA AUDITORÍA: EL CAMINO DE LA CONFIANZA Por Patrick de Cambourg, Presidente del Consejo de Supervisión de Mazars, y Philippe Castagnac, CEO del Grupo Mazars La reforma de auditoría adoptada por la Unión Europea establece, por fin, las bases de un verdadero mercado único, desconcentrado y basado en valores clave: reforzando
Con fecha 15 de enero de 2014, el directorio de AEChile aprobó por unanimidad la incorporación de Mazars Auditores Consultores Limitada como miembro de la Asociación de Auditores Externos de Chile A.G. Mazars Chile –filial de la auditora internacional del mismo nombre y con presencia en 72 países- será representada ante la entidad gremial- por
Se acompaña el documento con la Cuenta Pública del año 2012 del Sr Superintendente de Valores y Seguros Don Fernando Coloma
El Servicio de Impuestos de EEUU ha anunciado el 26 de julio recién pasado un calendario revisado para la aplicación de FATCA, documento que acompañamos y que está en inglés.
El Departamento del Tesoro dijo el viernes que, debido al enorme interés de los países de todo el mundo, se extenderá a los seis meses del inicio de la cuenta sobre los requisitos de diligencia debida de la Ley de Cumplimiento Tributario de Cuentas Extranjeras retención y, o FATCA, quedando para el 1 de julio de 2014 disponiéndose de más tiempo para completar los acuerdos con jurisdicciones extranjeras.