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Welcome to the MSL Blog!  A resource that offers guidance and thought leadership on issues to help your organization navigate the financial landscape in an ever-changing environment


MSL BLOG

AICPA Audit and Accounting Guide Updates

Preparation, Compilation, and Review Engagements - updated as of June 1, 2018

  • The updated version of the Preparation, Compilation, and Review Engagements incorporates relevant guidance that is issued and effective on or before June 1, 2018.  Updated guide incorporates SSARS No. 24, which creates an AR-C section entitle Special Considerations-International Reporting Issues, and amends SSARS No 21…

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Dan O’Keefe appointed to Seminole State College District Board of Trustees

Dan O’Keefe appointed to Seminole State College District Board of Trustees

Daniel O’Keefe has been appointed by Gov. Rick Scott to the Seminole State College District Board of Trustees for a four-year term. O’Keefe, 62, of Longwood, has served as the managing shareholder for the Orlando office of Moore Stephens Lovelace (MSL) since 2005.

O’Keefe is recognized as one of the top public-sector instructors in the state of Florida with over 40 years of public accounting…

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CONDUIT DEBT TEMPLATE

CONDUIT DEBT TEMPLATE

Not-for-profit entities (NFPs) with conduit debt that have securities that are traded, listed or quoted on an exchange or over-the-counter (OTC) market are required by certain Accounting Standards Updates (ASUs) to use the same effective dates and expanded disclosures that are imposed on public business entities…

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Accounting Guidance for Contributions to Not-for-Profit Groups Is Clarified (ASU No. 2018-08)

Accounting Guidance for Contributions to Not-for-Profit Groups Is Clarified  (ASU No. 2018-08)

On June 21, 2018, the FASB issued Accounting Standards Update (ASU) No. 2018-08 to help determine when income received by a not-for-profit organization should be accounted for as a contribution or an exchange…

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EBP UPDATE

EBP UPDATE

PBGC Missing Participant Program is Open for Defined Contribution Plans that Terminate in 2018 or Later

The Pension Benefit Guaranty Corporation (“PBGC”) has opened its missing participant program to permit defined contribution plans that terminate on or after January 1, 2018 to elect to transfer the benefit…

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Accounting Standards Update significant changes of not-for-profits financial reporting requirements

Accounting Standards Update significant changes of not-for-profits financial reporting requirements

Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, significantly changes the financial reporting requirements for not-for-profits (NFPs).  Reporting changes include (a) net assets, (b) investment income and expenses...

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PCAOB Publishes Staff Inspection Brief Previewing 2016 Inspection Findings

PCAOB Publishes Staff Inspection Brief Previewing 2016 Inspection Findings

Issued: November 10, 2017

Summary: 
This brief highlights certain observations from 2016 inspections of auditors of public companies and other issuers, including three recurring areas where audit deficiencies were most frequently identified

  • Assessing and responding to risks of material misstatement. Example: the auditor did not perform tests of details specifically related to fraud risks assessed by the auditor...
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