Tax provision complexity requires audit committee members to be proficient enough to help manage tax risk and talk tax with staff and the auditor.
FASB issued ASU 2014-17, Pushdown Accounting – a consensus of the Emerging Issues Task Force, making pushdown accounting optional for all entities upon a change-in-control.
The Board recently released ASU 2015-02, Amendments to the Consolidation Analysis, which changes the guidance for evaluating whether to consolidate certain legal entities.
Read about our related Advisory services:
Service Organization Attestation Reports
See when going public might make sense -- and when it doesn't -- plus some alternatives.
Read a detailed summary of a recent technical development or accounting pronouncement.
Check out our weekly update on announcements, meetings and proposals from accounting standards-setting bodies and industry regulators.
Jeffrey L. Burgess
National Managing Partner, Audit Services
Phone: +1 704 632 3940
Location: Charlotte, NC
See more at: http://www.grantthornton.com/services/audit-services