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Overview:
This Newsletter includes the IFRS and US GAAP Winter 2020 editions of AC Insights.
AC Insights provides audit committee members with a summary of financial reporting developments for public companies using IFRS, how those developments might affect their company and things they may want to think about when reviewing financial reports. The insights are provided for developments to the end of the current quarter-end. Developments may occur subsequent to the quarter-end which change the guidance issued or perspectives on the guidance. Such changes will be reflected in subsequent editions of AC Insights.
The American Institute of Certified Public Accountants hosted the 2019 Conference to provide a forum for standard setters, regulatory agencies, auditors, preparers, and others to review significant accounting, auditing, and regulatory issues and developments. A key theme at the Conference was the need for collaboration among all parties to achieve transparent, high-quality financial reporting.
Some of the key issues covered at the Conference included:
  • Implementation of new accounting standards;
  • Evolving issues such a reference rate (LIBOR) reform, digital assets, and cybersecurity;
  • Non-GAAP financial measures;
  • Reporting of critical audit matters (CAMs) in the auditor's report; and
  • Auditors and audit committees.
AC Insights Winter 2020 - Cdn edition (pdf 1.21 MB)
The US edition has a US GAAP update section along with the article on the AICPA conference and the CSA, SEC and Auditing updates sections included in the Canadian edition.
AC Insights Winter 2020 - US edition (pdf 1.15 MB)
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