Audit Committee Alert: Current Accounting Issues and Risks

The AICPA has published an alert to aide audit committees.

Regulatory Information and Financial Reporting:

Audit committees must be aware of the provisions of the Sarbanes-Oxley Act, along with associated regulations promulgated by bodies such as the Securities and Exchange Commission, the National Association of Securities Dealers, the New York Stock Exchange and others. This section offers a rundown of relevant regulations.

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Legislation of some accounting standards for financial reporting?

Seven accounting and business organizations have signed a letter objecting to the Brown amendment, which would legislate some accounting standards for financial reporting. Click here for full story.