Weekly News Round Up: Public Companies Showing Audit Deficiencies; FASB Guidance on Discontinued Operations; and COSO Update
April 14, 2014
Welcome to the Weekly News Round Up from the SC&H blog. Each week, we showcase a series of news stories that span everything from government contracting to personal finance to state and local tax issues.
This week, we have compiled stories about a study that highlights how public companies worldwide are showing audit deficiencies. In addition, the FASB issued guidance for companies that have discontinued operations and Oracle launched new EPM mobile capabilities.
Public Companies Show Persistent Audit Deficiencies Across the Globe
Public company audits worldwide suffer from persistent deficiencies in critical audit areas, according to a new report from the International Forum of Independent Audit Regulators.
FASB Provides Guidance on the Reporting of Discontinued Operations
The Financial Accounting Standards Board has issued new guidance on representing when a company or organization discontinues its operations.
Mostly Smooth Sailing for Early Adopters of Updated COSO Framework
Early adopters of the updated COSO framework are finding that their existing internal controls map rather well to the newly articulated principles contained in the updated framework.
Oracle Enables Broader Adoption of Enterprise Performance Management Applications With New Mobile Capabilities
Oracle recently announced new mobile capabilities to its industry-leading Oracle Enterprise Performance Management (EPM) System.
Worst Shortfall for Nonprofits in 6 Years of Annual Nonprofit Finance Fund Survey
The economic recovery is not offering signs of relief for the nonprofit sector, and many organizations are now looking to new models of funding, according the results of the Nonprofit Finance Fund’s 2014 State of the Nonprofit Sector Survey.
10 Personal Finance Books for Budding Entrepreneurs
Fox Small Business has compiled a list of the top 10 personal finance books, which are must-reads for aspiring entrepreneurs looking to be smarter at managing their own money.