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The Federal Accounting Standards Boards (FASAB) issued a proposal on Money that would change lease accounting for federal government entities. Proposed Statement of Federal Financial Accounting Standards (SFFAS), Leases: An Amendment of SFFAS-5, Accounting for Liabilities of the Federal Government, and SFFAS 6, Accounting for Property, Plant, and equipment, is designed to provide relevant and… Read More


The Public Company Accounting Oversight Board imposed sanctions on three audit firms, along with engagement partners at two of the firms, for violating independence requirements while auditing broker-dealer clients. Two of the firms and two engagement partners admitted to the violations, a first for the PCAOB. The three firms were Berkow, Schechter & Company LLP… Read More


Xero has expanded its global partner program, introduced Xero HQ, an open practice platform, and a new chatbot. The program, platform and tool were unveiled at Xerocon South in Australia. Built in consultation with Xero’s global network of accounting and bookkeeping partners, the enhanced partner program provides new tools to connect small businesses to advisors.… Read More