IIA urges companies to improve anti-fraud controls
The Institute of Internal Auditors wants more organizations to put in place anti-fraud controls and decide on the role that internal audit will play. In a new position paper, Fraud and Internal Audit: Assurance Over Fraud Controls Fundamental to Success, the IIA discusses the responsibilities of internal audit in preventing and detecting fraud at organizations.
The impact of incremental borrowing rates on new lease accounting requirements
Determining the appropriate discount rate under ASC 842 and IFRS 16 has proven to be challenging. While conceptually the accounting guidelines are straightforward, once market participants begin to search for data to substantiate the analysis, it is evident that the data is not readily available and sometimes is missing altogether.