Our latest 10-minute accounting and auditing update addresses FASB’s adoption of the 2021 SEC reporting taxonomy; lease standard reminders; the Center for Audit Quality’s guidance about external auditors’ responsibilities with regard to illegal acts; and significant upcoming changes to employee benefit plan audits.

Mentioned in this episode:

• 2021 SEC Reporting Taxonomy - https://www.fasb.org/jsp/FASB/Page/SectionPage&cid=1176175722790
• Illegal Acts: The External Auditor’s Responsibilities - https://www.thecaq.org/illegal-acts-the-external-auditors-responsibilities/
• EBP audits set for major changes, more transparency - https://www.journalofaccountancy.com/news/2021/sep/ebp-audits-changes-transparency.html