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FASB proposes various minor changes to codification

FASB issued a proposed Accounting Standards Update on Tuesday that would make changes designed to clarify, correct errors in, or make minor improvements to the board’s Accounting Standards [...]

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What to consider when auditing revenue recognition implementation

In a staff audit practice alert issued Thursday, the PCAOB provided information for auditors to consider as they apply the board’s standards to auditing of clients’ implementation of FASB’s new [...]

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Republicans unveil tax reform framework

Republican lawmakers released a framework for tax reform on Wednesday, announcing that their goals are to cut tax rates, simplify the Internal Revenue Code, and provide a more competitive [...]

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Treasury to pull regulations after review of burdensome tax rules

The Treasury Department announced Wednesday that it will pull several tax regulations identified as burdensome under President Donald Trump’s Executive Order 13789, including the proposed Sec. [...]