I can't cite chapter and verse for this, but experience tells me that there is a cardinal rule for IASB and FASB members that goes something like this: 'If you can't say something nice about board deliberations, then don't say…
I apologize for the long interval between this and my last posting – especially to those of you who have privately thanked me for material just boring enough, and long enough, to induce a good night's sleep. Tax blogs, I…
Section 404(a) of the Sarbanes-Oxley Act, together with SEC rules implementing the provisions of the Act, require management to assess and report on the effectiveness of internal control over financial reporting (ICFR). It took a few years for the SEC…
Following an extended comment period, Auditing Standard No. 5, which supersedes AS 2, was approved by the SEC on July 25, 2007. Now that another chapter in the regulatory saga of SOX 404 is complete, it is time once again…
EITF Consensus 07-03, Accounting for Nonrefundable Advance Payments for Goods or Services to Be Used in Future Research and Development Activities, is very straightforward and basic; so much so that it might require less than one class period of Accounting…