Technology Blog

Armanino’s Technology Blog informs technology and software CFOs and executives of the latest industry trends, rule changes and best practices. Our professionals bring you their insights and advice from an accounting and organization perspective to help your company reach its goals.

Wednesday, December 10, 2014

Accounting Update – Rules Are Changing

As companies contemplate closing the books on 2014, some updated accounting standards offer hope that the job is getting simpler. In a recent webinar, Matthew Perreault, Audit Partner and Head of Armanino’s Technology and SEC Practice, noted that the “biggest change” comes in the area of revenue recognition. The Financial Accounting Standards Board (FASB) and …

Tuesday, August 12, 2014

SOX Compliance Opens New Chapter

The route to Sarbanes-Oxley (SOX) compliance has never been a straight line. And recently, the Public Company Accounting Oversight Board (PCAOB) Staff Audit Practice Alert # 11 offered some new direction that C-level executives need to consider in making sure their firms don’t end up in the regulatory ditch. The PCAOB is sending a clear …

Monday, May 19, 2014

Internal Control Reporting Changes: The New COSO Framework

In our recent webinar, New COSO Framework—Imperative Internal Control Reporting Changes, me and my colleagues, Consulting Partner David Davis and Consulting Senior Manager Dave Osburn, walked through the first internal controls overhaul in more than 20 years. And with new Committee of Sponsoring Organizations (COSO) implementation deadlines upon us, it’s time for companies to stop …

Monday, May 12, 2014

Is Your Stock Option Plan Audit and IPO Ready?

Nothing is worse than having to respond to significant audit questions around stock option accounting right in the middle of an audit or an IPO S-1 filing. How your company handles its stock options comes under the microscope during important moments—audits and equity events—and the key to avoiding problems lies in keeping track of the …

Tuesday, August 6, 2013

Revenue Recognition: A Good Time to Review Accounting Infrastructure

In its late May meeting, the Financial Accounting Standards Board left no doubt that the cement has been poured on its game-changing shift in the way the world handles revenue recognition. Sure, there’s still time for some fine tuning before the cement hardens. The board acknowledged, for example, it would be taking another look at …

Monday, January 21, 2013

Mandatory Auditor Rotation: Good or Bad?

Should auditor rotation be a mandatory practice? Studies have shown that audit failures are three times more likely in the first two years of an auditor/client relationship. Further, the Public Company Accounting Oversight Board, (inspecting independent financial statement audit quality on an annual basis) found that the seven largest CPA firms in the U.S. incurred …

Thursday, October 4, 2012

Closing the FASB-IASB Gap Is Unlikely

Ten years since the FASB and IASB agreed to cooperate and make their reporting standards compatible, the two sides still remain far apart. Unfortunately it’s a marriage that may never happen. At their joint meeting in Norwalk, Connecticut, USA on September 18, 2002, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board …