Accounting Research Manager
Weekly Summary of Accounting, SEC and Auditing Developments: April 28 - May 2, 2025
The accounting updates below are provided courtesy of Accounting Research Manager, a subscription service that provides a timely and comprehensive online database of analytical accounting, auditing, and SEC information and authoritative literature. KnowledgeLeader members are eligible to receive a 15% discount if they would like to subscribe to Accounting Research Manager. Experience the full database by requesting your free trial.
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ACCOUNTING AND SEC HEADLINES
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Software Costs – New Edition of GAAP Update Service Published
We have published a new edition of the GAAP Update Service, Software Costs (Proposal). This new edition discusses the FASB’s proposal on software costs. If adopted as proposed, this guidance would make targeted improvements to the accounting for internal-use software.
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ACCOUNTING AND INTERNAL CONTROLS HEADLINES
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International Entities – 2024-2025 Edition of Knowledge-Based Audits of International Entities Published
We have published the 2024-2025 edition of Knowledge-Based Audits of International Entities. This publication is designed to help the auditor efficiently and effectively perform financial statement audits of nonpublic international commercial entities in accordance with International Standards on Auditing (ISAs) promulgated by the International Auditing and Assurance Standards Board (IAASB).
The tools in this new edition have been updated to help auditors conduct efficient and effective audit engagements in accordance with ISAs and to take into account the latest literature, standards, and guidance. This includes incorporating the guidance in narrow scope amendments to both ISA 700 (Revised), Forming an Opinion and Reporting on Financial Statements; and ISA 260 (Revised), Communication with Those Charged with Governance.
Compilation Engagements – New Edition of GAAS Update Service Published
We have published a new edition of the GAAS Update Service, Practice Issues and Questions & Answers Relating to AR-C Section 80, “Compilation Engagements.” This new edition discusses AR-C Section 80, which applies when an accountant in public practice is engaged to perform a compilation of any of certain specified subject matters.
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GOVERNMENT HEADLINES
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Succession Planning – New Edition of Governmental GAAP Update Service Published
We have published a new edition of the Governmental GAAP Update Service, Succession Planning in States and Local Government. This new edition discusses succession planning in state and local governments.
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