Things to know about critical audit matters

During the third quarter of 2019, the Financial Accounting Standards Board issued one new standard, which updates U.S. GAAP to incorporate various Securities and Exchange Commission (SEC) rules and disclosures.

It also proposed guidance to address effective-date deferral of major standards for certain entities, narrow-scope improvements to the credit losses standard, interaction between the recognition and measurement of financial instruments and the accounting for equity method investments, improvements in distinguishing liabilities from equity, reference rate reform, and debt classification.

To learn more, click here for the Crowe article or contact Jennifer Monaghan at 502-420-4509.