El presente artículo tiene la finalidad de resaltar la importancia que implica el adecuado y estricto cumplimiento de las normas y el código de ética del auditor interno, con el fin de evitar que, ya sea por falta de profesionalismo o solo por pretender conservar nuestro trabajo, adulemos y digamos únicamente lo que la alta…
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Roles principales: Revisar gestión de riesgos claves. Evaluar elaboración de informes sobre gestión de riesgos. Evaluar proceso de gestión de riesgos. Otorgar aseguramiento sobre la evolución correcta de los riesgos. Otorgar aseguramiento respecto al proceso de gestión de riesgos.
To simplify the accounting for business combinations, the Financial Accounting Standards Board is proposing a change to the rules around how to adjust provisional amounts recorded at the time of a transaction. Current business combination rules say if companies don’t have all the information they need to fully account for a transaction in the period it occurs,…
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The governing body of the American Institute of CPAs (AICPA) on May 18 approved a resolution that authorizes the creation of two new specialty credentials in the area of fair value measurement. The governing Council of the AICPA, comprised of approximately 265 members and representatives from every state and US territory, passed the resolution during…
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The International Accounting Standards Board (IASB) today issued limited amendments to the IFRS for SMEs following a comprehensive review. The Standard, which was specifically developed for small and medium-sized entities, has seen remarkable uptake, with millions of companies using it worldwide. The International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) was developed in response to…
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According to a Goldman Sachs study, cloud computing will grow at a rate of 30 percent through 2018, a trend that started back in 2013. With the penetration of cloud computing, questions of how to properly recognize revenues from cloud computing arrangements have been raised. The Financial Accounting Standards Board on April 15 decided to…
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The International Financial Reporting Standards (IFRS) poses challenges to industries, said S Narasimhan, Chairman, CII Puducherry State Council & Director, Sattva Logistics Pvt Ltd here. Referring to the Finance Ministry’s proposal on new tax accounting standards related to income computation and disclosures and the agreement with the G20 countries to adopt the IFRS, following which…
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The Financial Accounting Standards Board (FASB) has issued enhanced disclosure requirements for property and casualty insurance contracts that are already well known to insurance companies. These disclosures provide investors with a clearer picture of an insurance company’s claim-related liabilities on the balance sheet. Although new in Generally Accepted Accounting Principles (GAAP), insurance companies have always…
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The EU accounting directive brings a much-changed small company accounting regime, added complexity and confusion. Liz Loxton investigates The new EU Accounting Directive brings sweeping changes to the small company reporting regime. However, while European Commission (EC) policymakers seemed to have had the laudable aim of reducing the need for smaller entities to produce overly…
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It’s been 10 years since the adoption of International Financial Reporting Standards (IFRS) by listed companies across the EU, and we believe that Europe’s positive experience offers useful lessons for countries contemplating a move to IFRS reporting. Our Financial Reporting Faculty has published a major new report detailing Seven Lessons Learned from the European Experience. The…
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