By George Wilson
ICFR is clearly a hot topic on the SEC and PCAOB agendas as the recent MetLife enforcement and other developments demonstrate. And, ICFR over unusual transactions and new accounting standard implementation present significant challenges. Reed Wilson, one of the workshop leaders of our Form 10-K In-Depth Workshop, who is also a member of the FEI Committee on Corporate Reporting (Yes, that is CCR! How about “Down on the Corner” as a theme song?), alerted us to some very useful preparer build ICFR aids from CCR at FEI. The first deals with ICFR over the business combinations process:
A Guide to Designing and Operating an Effective System of Internal Control Over Business Combinations
CCR also published two Insight Guides dealing with ICFR considerations for the Lease Accounting Standard and CECL.
Thanks to Reed and FEI and, as always, your thoughts and comments are welcome!