In February 2016, the Federal Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Leases (Topic 842), which amends the existing lease accounting standards and replaces Topic 840.
Last month, during the United Nations climate change conference, COP26, the International Financial Reporting Standards Foundation (IFRS) made a major announcement regarding the creation of an International Sustainability Standards Board (ISSB) to develop comprehensive sustainability disclosure standards for investor needs.
If you are a part of the financial services industry you’re well aware of the rapidly changing landscape that is requiring banks to change and adapt or risk becoming obsolete.
In an article published on November 12, we explained that recent legislation set in motion an unexpected and early end to the Employee Retention Credit (“ERC”). Worse, it did so retroactively, and in a way that technically could create significant issues, including risk of penalties, for unsuspecting employers who legitimately
(Applications due 11/26/21) An under-the-radar grant program is ongoing for Maine-based small businesses, but its application window is closing soon. The Maine Jobs and Recovery Small Business grant will provide $5 million of the state’s federally-funded pandemic relief to many small businesses impacted by Covid-19. Online applications are due by
Some pieces of federal legislation that have been working their way through Congress are closer to the finish line, and as we near the end of another year, our clients and friends are interested in how their wallets may be affected and whether any action is needed on their parts
In June 2021 the Federal Financial Institutions Examination Council (FFIEC) made sweeping changes to the Operations booklet in its IT Examination Handbook. The FFIEC desired it to be more focused on principle-based, enterprise-wide, process-oriented approaches that consider the design of technology within the overall business structure and in the context