The Public Company Accounting Oversight Board (PCAOB) has released a new staff PCAOB Spotlight document, COVID-19: Reminders for Audits Nearing Completion, to provide important reminders to auditors of issuers and broker-dealers for audits nearing completion. Reasons for Issuance of the PCAOB Spotlight Explaining the decision to issue the new Spotlight, Chairman William D. Duhnke III said, […]
Archives for April 2020
GASB Issues Statement No. 93 for Transition from LIBOR
The Governmental Accounting Standards Board (GASB) has issued Statement No. 93, Replacement of Interbank Offered Rates, to assist state and local governments in the transition away from existing interbank offered rates (IBORs), including the London Interbank Offered Rate (LIBOR) to other reference rates. Variable payment rates based on LIBOR Some governments have entered into agreements […]
CPAs support business owners during COVID-19 crisis
The phones started ringing immediately when Congress passed the first legislation related to the economic effects of the coronavirus in mid-March. WellsColeman, a 37-employee firm in Richmond, Va., received a surge of small business client inquiries on related employment issues. In response, George Forsythe, CPA, the firm’s managing partner, scheduled a Zoom call with a […]
Financial institutions using CARES Act deferrals won’t violate GAAP, SEC says
Eligible financial institutions will not be in violation of GAAP if they take advantage of the deferrals or suspensions of two FASB standards as permitted in the new federal coronavirus relief law, SEC Chief Accountant Sagar Teotia said Friday in a statement issued by the commission. The $2 trillion Coronavirus Aid, Relief, and Economic Security […]
Self-Propagating Malware Targets Thousands of Docker Ports Per Day
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13 things to avoid doing on Zoom
Experts weigh in: Should you use Zoom filters, how to best light yourself, and how not to get hacked, among many other tips. It’s easy to get caught up in a Zoom meeting and forget to do simple things like end the session if you’re the host, or turn off the camera if you leave […]
Cloud Providers, CDNs Team Up to Battle Internet Routing Attacks
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New York Gov. Cuomo says state saw its single-biggest increase in coronavirus deaths yesterday
Following the arrival in New York City of the U.S. Naval hospital ship Comfort, NY State Governor Andrew Cuomo is seen during a press conference at the field hospital site at the Javits Center. Albin Lohr-Jones | Pacific Press | Getty Images Gov. Andrew Cuomo said Friday that 2,935 New Yorkers have died from the […]
ArcelorMittal South Africa issues force majeure, cuts salaries
JOHANNESBURG (Reuters) – ArcelorMittal South Africa (ACLJ.J) has issued force majeure notices to customers and suppliers “where appropriate” as a nationwide three-week lockdown impacts the South African subsidiary of one of the world’s biggest steel manufacturers. Arcelormittal South Africa also said it has cut salaries for all employees with effect from this month, for a […]
BigBasket and Grofers to hire 12,000 staff to meet demand surge
Illustration: Rahul Awasthi E-grocer BigBasket will hire 10,000 permanent on-ground staff to work at warehouses, distribution centres and as delivery personnel, over the next few days. The company’s rival Grofers also plans to recruit 2,000 additional workers, as both the companies look to service a massive demand surge caused by the nationwide lockdown due to […]