Day: July 31, 2025

Independent boards and oversight of internal audit

Ineffective Boards and Internal Audit Independence

On By Chris Dogas

GUEST BLOG POST For several years following the start of the COVID pandemic, the Institute of Internal Auditors’ “North American Pulse of Internal Audit” reported that internal audit department budgets were dropping. While the 2024 survey reported improving internal audit budgets, the 2025 survey once again raised concerns that internal Read More

Lease accounting

FASB Issues Credit Losses Standard for AR and Contract Assets

On By IA360 Staff

The Financial Accounting Standards Board (FASB) has issued an Accounting Standards Update (ASU) that improves guidance on the measurement of credit losses for accounts receivable and contract assets. The new guidance, which is optional, addresses challenges faced by stakeholders when applying Topic 326, Financial Instruments—Credit Losses, to current accounts receivable Read More