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Friday Footnotes: Big 4 Pride; KPMG Gets Snubbed; EY Goes on a Poaching Spree | 6.3.22

Going Concern

The Financial Accounting Standards Board adopted CECL in 2016, prompted by criticism that banks had booked losses too slowly in the run-up to the 2008 financial crisis. That is a far broader calculation than the old rules, which were based on losses expected imminently.

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Friday Footnotes: ‘KPMG Did Not Know What They Were Doing’; Are You Boring?; PCAOB Warns About Confirmations | 3.25.22

Going Concern

SEC accepts FASB’s 2022 reporting taxonomies [ CFO Dive ] The Securities and Exchange Commission has accepted updates to the Financial Accounting Standards Board’s GAAP Financial Reporting Taxonomy and SEC Reporting Taxonomy, FASB has announced. . — Mary (@AccountingAsArt) March 25, 2022.