More than 80% of S&P 500 companies produce sustainability reports, but investors say the information is often tough to use and hard to compare. That could start to change as soon as next year as the Sustainability Accounting Standards Board is in the final stages of preparing its set of standards for companies to use in reporting
Businesses around the globe are making cyber risk among their highest priorities. Insuring companies against data breaches is becoming an enormous industry, even as its promising role and impact in security operations continues to unfold. While North American policyholders dominate the market, Europe and Asia are expected to grow swiftly over the next five years as a result of new laws and significant increases in targeted attacks, such as ransomware.
The letter covers a number of areas which the regulator says investors will want to focus on. They include the implementation of new accounting standards (IFRS 9, IFRS 15 and IFRS 16), where companies should be making detailed, quantitative disclosures explaining the expected impact of the new standards on their reporting in the last set of financial statements before the implementation date.
Innovation in the accounting profession is here to stay. In this discussion, Bill Sheridan and Samantha Mansfield discuss why innovation is important, and examples of how it is happening in the accounting profession.
For the past year, we have been monitoring the progress made by U.S. public companies towards implementation of the new revenue accounting guidelines known as ASC 606. In December 2016, we looked at companies who were planning to early-adopt the provisions. Then, back in June, we checked in again on the progress of the S&P 500 towards completion. We noted at the time, that many companies seemed to be under-prepared
FASB and the International Accounting Standards Board designed their converged revenue recognition standard to enhance comparability across industries. But the standard has presented different implementation challenges to the various business sectors
The financial industry has experienced a variety of challenges over the past several years. Many of which revolve around operating in a new economic context after the financial crisis, restoring public confidence in the industry, and competing with new, aggressive, non-traditional innovators.
The Central Bank of Bahrain (CBB) has announced new Shariah governance regulations applicable to wholesale and retail Islamic banks in Bahrain. The new regulations are credit positive for investors because they will lead to a more consistent and robust system for ensuring Shariah compliance for Islamic products and most importantly sukuk issued in Bahrain, and will reduce the possibility that issuers cite non-compliance as a defense against payment.
After passing yet another anniversary of a major regulatory reform – this time the fifteenth anniversary of the 2002 Sarbanes-Oxley Act – we are reminded once again of the heavy and evolving compliance burden with which many companies must grapple