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 FASB and IASB discussed implementation issues arising from meetings of the Joint Transition Resource Group for Revenue Recognition on the new revenue recognition standards.
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Service Organization Attestation Reports
Grant Thornton understands how important audited financial statements are to businesses, shareholders/owners, lenders, investors and other stakeholders. We work with some of the country’s most successful private and public companies. Our approach is to first understand the business and the risks it faces, and then to focus our efforts where they matter most. This method is effective and cost-efficient.
Ultimately, we see our audit as more than numbers and compliance. We work with clients to improve their overall financial reporting processes and to help them better understand their business. We also consider it our job to continually inform our clients about accounting, financial and regulatory developments that may affect their business.
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.
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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