Many corporate boards are still paying too little attention to the risk of sexual harassment despite evidence that companies can perform better if they focus on promoting gender equality, says Pax World Management CEO Joe Keefe. "Organizations have to build stronger cultures and have better governance, more accountability and better oversight," he said.
The Public Company Accounting Oversight Board is holding webinars to educate auditors on how to comply with its new audit reporting standard. The PCAOB also has issued staff guidance on the updated standard, which sets staggered dates for mandating auditor communication of critical audit matters.
Time is running short in the revenue recognition implementation effort as public companies must adopt the Financial Accounting Standards Board's new standard at the beginning of 2018. Gathering information needed to make new disclosures is one of the most pressing concerns for financial-statement preparers as the deadline approaches.
The Financial Accounting Standards Board's changes and proposed changes to its lease accounting standard, announced last week, are designed to address financial-statement preparers' challenges. Chairman Russell Golden says the FASB is trying to help preparers succeed during a time of big change.
More than half of Americans with debt say owing money has had a negative impact on their lives, according to a recent AICPA survey. Nearly a third of people with debt say they worry about it, while about a fifth say it has caused friction with a spouse or partner.
The average balance of 401(k)s at Fidelity Investments reached a record $99,900 in the third quarter, while the average balance of individual retirement accounts hit a record $103,500. Balances were 10% higher compared with Q3 of 2016.
Some borrowers lack knowledge about mortgages, with one-fifth incorrectly saying buying a home without a down payment of at least 5% is impossible, according to a survey. The survey also finds borrowers often go to their bank or rely on a recommendation from their real estate agent when choosing a lender.
Muhich was CFO and chief operating officer at ID Experts.