Dodd-Frank’s Title VII - OTC derivatives reform: Important answers for board members as companies begin the road to reform
Thousands of companies hedge business risks by entering into derivatives with banks or other derivative dealers that are executed bilaterally over the counter (OTC). Historically, such OTC derivatives have not been subject to government regulation, but Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act changes that. The questions in this document are designed to help members of the boards of directors at companies understand the potential impacts of the new regulation on non-financial companies that use OTC derivatives.

The road to reform: Helping commercial end users of OTC derivatives comply with Dodd-Franks Title VII
Title VII of the Dodd-Frank Act applies to any entity trading OTC derivatives - even nonfinancial end users. For many, compliance is required as early as the beginning of 2013. Organizations using various OTC derivatives need to take steps now to further understand Title VII's impact and to address required changes.

Quarterly tax developments - March 2013
Our March edition is designed to help you identify changes in tax law and other events when they occur so the accounting can be reflected in the appropriate period. This edition includes enacted and effective tax legislation, regulatory developments and other items through 31 March 2013 to consider as you prepare your tax provision. We list our tax alerts and other publications that provide more detail on the topics discussed.

The JOBS Act: One-year anniversary
The Jumpstart Our Business Startups Act (the Act) was enacted on 5 April 2012 to give private companies greater access to capital and make it easier for certain companies to go public. A year later, we look at the effects on the IPO market and analyze how emerging growth companies are using the relief available to them under the Act. We also provide an update of what still must be done to implement key provisions of the Act.

Practical matters for the c-suite - Proposed new path for the classification and measurement of financial instruments
Our Practical matters for the c-suite publication complements our Technical Line (pdf, 849.9kb) publication on the FASB's proposal on classification and measurement. The proposal would upend the current model for classifying financial assets, requiring updates to processes and controls. While some outcomes for debt instruments will be the same as the present model, changes are inevitable. It is produced by our Financial Accounting Advisory Services (FAAS) group and is intended to help companies assess the potential effects of accounting proposals on their organizations.

Financial services matters: Practical effects of the FASB’s proposal for recognizing and measuring financial assets and liabilities
Our publication explores the potential effects of the FASB's proposal on recognition and measurement of financial assets and liabilities on an organization's financial, tax, and regulatory operations, as well as data, business processes and IT systems.

Proxy season 2013 preview
As we enter the 2013 proxy season, company-shareholder engagement continues to increase and improve, with many management teams and boards showing a greater willingness to have substantive dialogue with shareholders. This publication examines the top areas of governance focus for investors in 2013. We offer insights into investor views on engagement practices to help boards and companies prepare for, and adapt to, these governance developments.

Practical matters for the c-suite - Credit losses would be recognized sooner under FASB proposal
Entities across all industries will be affected by the FASB proposal on credit losses. Our Practical Matters publication explores the effect on organization's finance, tax, IT systems and business processes. This publications complement our 21 January 2013 Technical Line publication (pdf, 781.9kb) on the FASB's proposal.

Practical matters for the c-suite - Expected loss model proposed by FASB for all financial assets
Entities across all industries will be affected by the FASB proposal on credit losses. This edition of Practical Matters explores issues specific to financial institutions. This publications complement our 21 January 2013 Technical Line publication (pdf, 781.9kb) on the FASB's proposal.

Quarterly tax developments - December 2012
Our December edition is designed to help you identify changes in tax law and other events when they occur so the accounting can be reflected in the appropriate period. This edition includes enacted and effective tax legislation, regulatory developments and other items through 31 December 2012 to consider as you prepare your tax provision. We list our tax alerts and other publications that provide more detail on the topics discussed.

Practical matters for the c-suite - Boards re-examine lessor accounting
While most of the attention of the joint project on leases has been aimed at lessees, the project would also propose new accounting for lessors. The Boards' original ED proposed two accounting approaches for lessors. Many respondents to the original EDs questioned why two approaches were needed. This edition of Practical matters for the c-suite complements our September 2012 Technical Line publication on the Boards' revised proposal. It is produced by our Financial Accounting Advisory Services (FAAS) group and is intended to help companies assess the potential effects of accounting proposals on their organizations.

Practical matters for the c-suite - New accounting guidance for lessees: are we there yet?
The FASB and IASB have been working on their joint lease project for over six years. While the Boards have taken numerous twists and turns on the road to completing the project, they are committed to putting leases on the balance sheet. This edition of Practical matters for the c-suite complements our September 2012 Technical Line publication on the Boards' revised proposal. It is produced by our Financial Accounting Advisory Services (FAAS) group and is intended to help companies assess the potential effects of accounting proposals on their organizations.

Our commitment to executing quality audits: Information for audit committees
A decade after the enactment of SOX, Ernst & Young continues significant reforms and investment to meet increasing challenges in the regulatory environment.

Conflict minerals: new rules and next steps
Because of concerns about human rights abuses in “conflict minerals” mining, Section 1502 of the Dodd–Frank Act requires disclosures about the use of these minerals emanating from select countries. The SEC has issued a final rule to implement these new requirements. Find out what you need to know about the disclosure and reporting requirements and how we can help.

Quarterly tax developments - September 2012
Our September edition is designed to help you identify changes in tax law and other events when they occur so the accounting can be reflected in the appropriate period. This edition includes enacted and effective tax legislation, global tax treaties, regulatory developments and other items through 30 September 2012 to consider as you prepare your tax provision. We've also listed our tax alerts and other publications that provide more detail on the topics we discuss.

Viewpoints: A dialogue with SEC chief accountant James Kroeker
James Kroeker, then chief accountant of the SEC, joined the North American Audit Committee Leadership Network for a discussion of current issues in accounting, auditing, and financial reporting. This document summarizes the key points that members raised in the discussion, along with background information and perspectives that members shared before the meeting.

Viewpoints: Evaluating the audit and the external auditor
The North American Audit Committee Leadership Network met and discussed the audit committee’s evaluation of the audit and the external auditor. Current scrutiny of the auditing profession by policymakers and regulators has raised the question of whether and how audit committees can use their evaluations of their companies’ external auditors to improve the audit. This document summarizes the key points that members raised in the discussion.

Tax Alert 2012-1243: UK Finance Act 2012 is enacted for US GAAP on July 17, 2012, and has income tax accounting implications
The UK Finance Act 2012 was enacted on 17 July 2012. The Act reduces the UK main rate of corporate tax.

The new fair value disclosures: A snapshot of how public companies adopted the requirements of ASU 2011-04
In accordance with ASU 2011-04, public companies were required to provide several new fair value measurement disclosures in their quarterly filings for periods ending 31 March 2012. Ernst & Young reviewed the fair value disclosures provided by 60 public companies across various industries in order to gain insights into how companies adopted the new requirements. The results of our analysis are presented in this publication.

Quarterly tax developments - June 2012
Our June edition is designed to help you identify certain changes in tax law and other events when they occur so the accounting can be reflected in the appropriate period. This edition includes certain enacted and effective tax legislation, global tax treaties, regulatory developments and other items through 30 June 2012 to consider as you prepare your tax provision. We've also listed our tax alerts and other publications that provide more detail on the topics we discuss.

The Sarbanes-Oxley Act at 10
Our report reviews the Sarbanes-Oxley Act’s key provisions, offers perspectives on some improvements engendered by SOX and highlights opportunities for further enhancements to the financial reporting system.

Views. Vision. Insights. The evolving role of today’s CFO
As companies in the Americas look to future growth, chief financial officers (CFOs) are ever more deeply involved in setting strategy alongside top executives and are relied on to help support that growth, according to a series of one-on-one in-depth interviews with CFOs of top Americas-based companies conducted by Ernst & Young. Our report provides a fascinating glimpse into the thinking of contemporary CFOs.

ViewPoints: Audit policy initiatives in the European Union and the United States
On 29–30 March 2012, members of the Audit Committee Leadership Networks in Europe (EACLN) and North America (ACLN) met in Paris for their seventh annual summit meeting. Members discussed the oversight of political risk, credit rating agencies and audit policy initiatives currently under way at the Public Company Accounting Oversight Board (PCAOB) in the United States and in the European Union.

ViewPoints: Dialogue with the credit rating agencies
On 29–30 March 2012, members of the Audit Committee Leadership Networks in Europe (EACLN) and North America (ACLN) met in Paris for their seventh annual summit meeting. Members discussed audit policy, oversight of political risk and the credit rating agencies (CRAs).

ViewPoints: Political risk
On 29–30 March 2012, members of the Audit Committee Leadership Networks in Europe (EACLN) and North America (ACLN) met in Paris for their seventh annual summit meeting. Members discussed audit policy, political risk and the credit rating agencies (CRAs). This document contains a summary of the key points raised during the discussion, along with background information and selected perspectives that members and experts shared before and after the meeting.

Proxy season 2012 - early voting results
This publication provides a view into early voting patterns and shareholder campaigns regarding director elections, say-on-pay proposals, and shareholder proposals, all of which guide expectations as the proxy season unfolds.

Practical matters for the c-suite - Would the redefinition of investment companies affect you?
Our new edition of Practical matters for the c-suite complements our Technical Line and To the Point publications on the FASB’s exposure draft on investment companies and explores in more detail how the proposal would affect an organization’s finance, tax and business processes. The Practical matters for the c-suite series is produced by our Financial Accounting Advisory Services (FAAS) group and is intended to help companies assess the potential effects of accounting proposals on their organizations.

Proxy season 2012: trends in proxy statement disclosure
An early look at the 2012 proxy season shows that companies are using the proxy statement as a strategic tool to strengthen board communications with shareholders, effectively enhancing transparency around their corporate governance practices and policies. This publication reviews the emerging trends in proxy statement disclosures among large US companies and the evolving corporate governance practices they reflect.

Quarterly tax developments - March 2012
Our new publication is designed to help you identify changes in tax law and other events when they occur so the accounting can be reflected in the appropriate period. Every quarter, we will summarize enacted and effective tax legislation, global tax treaties, regulatory developments and other items to consider as you prepare your tax provision. We'll also list our tax alerts and other publications that provide more detail on the topics we discuss.

Practical matters for the c-suite - To consolidate or not to consolidate - that is the question
The latest edition of our FAAS thought leadership series, Practical matters for the c-suite, To consolidate or not to consolidate - that is the question, is aimed at c-suite and board-level contacts at both Channel 1 and Channel 2 clients to help them understand the FASB’s exposure draft on consolidation accounting.

Proxy season 2012: board priorities for shareholder engagement
This issue offers boards insights into investor priorities for 2012 so they can better prepare for shareholder engagement and communications. It offers an overview of the emerging corporate governance themes and highlights key shareholder initiatives that are expected to dominate the proxy season. Stay tuned for the remaining Proxy Perspectives during the proxy season.

Audit committee - leading practices and trends
This publication outlines key considerations for audit committees as they focus on risk oversight, committee composition and self assessment. Also included are suggestions for executive sessions, interaction with other board committees, continuing education and new member orientation.

2011 year-end issues audit committees should consider
Audit committees continue to face change, economic volatility and regulatory uncertainty as they head into the year-end reporting season. Our publication, 2011 year-end issues audit committees should consider, discusses the key challenges facing audit committees and lays out 20 questions audit committees should consider as they prepare for their upcoming discussions. Our publication also provides additional insights by references to other Ernst & Young publications.

Practical matters for the c-suite - SEC reminder: management is responsible for the output provided by third-party pricing services
This edition of Practical Matters complements our recent Technical Line on the SEC’s focus on a company’s internal controls over the use of prices and related information obtained from third-party pricing services -- information that is then reported in the company’s financial statements. The Practical Matters for the c-suite series is produced by our Financial Accounting Advisory Services (FAAS) group and is intended to offer practical insights around significant financial reporting and accounting issues.

Practical matters for the c-suite - Time for real estate entities to prepare for fair value?
Our new edition of Practical matters for the c-suite complements our recent Technical Line and To the Point publications on the FASB’s recent proposal on the accounting for real estate investment property entities and explores how the proposal would affect an organization’s finance, tax, IT systems and business processes. The Practical matters for the c-suite series is produced by our Financial Accounting Advisory Services (FAAS) group and is intended to help companies assess the potential effect of accounting proposals on their organizations.

Practical matters for the c-suite - Revenue recognition project: second time’s a charm?
Our new edition of Practical matters for the c-suite, Revenue recognition project: second time’s a charm?, complements our recent Technical Line and To the Point publications on the changes to last year’s exposure draft on revenue recognition. This publication also explores in more detail how the revised exposure draft would affect an organization’s finance, tax, IT systems and business processes.

Master limited partnership accounting and reporting guide
Our Master limited partnership accounting and reporting guide covers a variety of common accounting and reporting considerations associated with the formation and ongoing operations of an MLP.

Practical matters for the c-suite - Financial instruments convergence project moves forward in fits and starts
Our Practical matters for the c-suite highlights how the current deliberations underway regarding the financial instruments accounting standards will still have a significant impact on many organizational functions, including financial, tax, IT systems, and business processes

Dangerous world - practical steps for global companies to evaluate and address corruption risk
Corruption risk continues to be a significant concern for global companies. The trend of increased Department of Justice and SEC enforcement of the US Foreign Corrupt Practices Act continues in the US. We provide suggestions for how large and mid-size companies should go about evaluating their corruption risks and put a program in place to address these risks responsibly.

Global Tax Policy and Controversy Briefing: Issue 8
Tax policies have continued to evolve swiftly over the past quarter, perhaps at a faster pace than we have since the height of the financial crisis. This is particularly true in those locations where outside influences as now affecting on tax policy. This is providing a far greater impetus for governments to work together and for tax policies to become more aligned, notwithstanding the underlying aim of competitiveness.

2011 proxy season review: highlights and leading implications
Results from this proxy season reflect the growing challenge boards face in considering investor views on governance issues while ensuring that decisions are appropriate for company-specific circumstances. The newest issue of Proxy Perspectives provides top results and key takeaways from the proxy season, including in-depth looks at compensation matters in the first year of mandatory say-on-pay and trends in company-shareholder engagement.

Dodd-Frank Act: One-year anniversary
One year ago, Congress adopted the Dodd-Frank Wall Street Reform and Consumer Protection Act. The anniversary of the law’s enactment affords an opportunity for all public companies to assess their progress and preparedness as various provisions are implemented. Public issuers should consider five current realities.

Third-party due diligence: Key components of an effective, risk-based compliance program
Global corporations and their audit committees are taking a closer look at how they manage third-party relations – their due diligence around vendor, distributor, joint venture and customer organizations – defined broadly as third parties. Global corporations and their audit committees are taking a closer look at how they manage third-party relations. In this paper, we discuss the key components of an effective vendor due diligence program.

Competing for your employees’ hearts and minds: What to do given the whistleblower provisions of the Dodd-Frank Act
The Dodd-Frank Act includes provisions that require the SEC to establish a whistleblower bounty program that provides monetary awards to people who provide information about corporate misconduct. The final rules adopted by the SEC in May of 2011 permit whistleblowers to go directly to the SEC and bypass internal "hotlines." The new rules are leading boards and corporate compliance officers to rethink and re-evaluate existing corporate compliance programs.

InSights - Regulatory compliance: adapting to a pressurized environment
This edition of InSights looks at how company compliance functions are adapting to more stringent regulatory environment. It is based on conversations with audit committee chairs, compliance executives and a broad range of other advisors.

Proxy Perspectives: Proxy season preview board priorities in 2011
Our publication outlines what boards need to know now as we enter the 2011 shareholder meeting season.

Proxy Perspectives: Shareholders target board oversight of company tax strategy
Our publication discusses shareholder concerns about board oversight of risks arising from a company’s tax strategy.

Statutory accounting for income taxes: Proposed changes and complexity
Our publication summarizes the NAIC's proposed new statutory accounting guidance for income taxes.

Hedge accounting under IFRS 9 - a closer look at the changes and challenges
Our publication discusses the IASB proposal related to hedge accounting.

Insurance Accounting Alert - February 2011
Our Alert summarizes the re-deliberations by the IASB and FASB related to the accounting for insurance contracts.

2010 year-end issues audit committees should consider
Our publication discusses 2010 year-end issues top of mind for audit committee members.

Revenue recognition under IFRS - what do respondents think of the proposed changes
Our publication outlines our main observations from a study performed on the responses to the joint IASB/FASB proposal on revenue recognition.

XBRL service providers and software vendors
Our publication will assist registrants in identifying and assessing XBRL service providers and software vendors.

Practical matters for the c-suite - More "fair value" for financial instruments? — Every company affected
Our Practical Matters highlights how the proposed changes to the US GAAP accounting standard for financial instruments will impact companies in every industry.

Change is coming. Are you ready?
Our publication discusses these unprecedented accounting changes facing US companies as a result of the joint projects.

Practical matters for the c-suite - Proposed FASB guidance on insurance
Our Practical Matters highlights how the proposed changes to the accounting for insurance contracts would impact many organizational functions, including financial, tax, IT systems and business processes.

Insurance Accounting Alert - FASB preliminary views on insurance accounting
Our Alert summarizes key aspects of the IASB proposal and compares those proposals to alternative preliminary views of the FASB.

Revenue: Will your key performance measure change?
Our Practical Matters highlights the effects the revenue recognition proposal would have on areas such as financial metrics, systems, tax, and stakeholder communications.

Practical matters for the c-suite - What do the proposed lease accounting changes mean for you?
Our Practical Matters highlights the effects the leases proposal would have on areas such as financial metrics, systems, tax and stakeholder communications.

Insurance Accounting Alert - Proposal for accounting for insurance contracts - July 2010
Our Alert provides an overview of the IASB's proposal on insurance accounting.

Financial Regulatory Reform: Q&A on the Dodd-Frank Wall Street Reform and Consumer Protection Act
Our report provides high-level observations on provisions within the law that affect the financial services sector, the broader corporate community and the accounting profession.

Practical matters for the c-suite - Revenue: Will your key metric change?
Our Practical Matters highlights the effects the revenue recognition would have on many organizational functions, including financial, tax, IT systems and business processes.

Regulatory implications for private fund advisors
Our report provides a roadmap for implementing US financial reform for private fund advisors.

Health care reform: A summary of accounting considerations
Our publication provides a summary, in one location, of previously published key accounting considerations resulting from the health care reform legislation..

EY summary of COSO study on fraudulent financial reporting
Our report summarizes the COSO report analyzing fraudulent financial reporting between 1998-2007.

Financial services: An enhanced culture of compliance
Our publication discusses the challenges faced by alternative asset managers as an opportunity to improve compliance over the long term.

Health care reform: top five things employers need to know
Our publication provides an overview of the key elements affecting employers in the Patient Protection and Affordable Health Care Act.

Health care reform has passed: what now?
Our publication outlines the key elements of the Patient Protection and Affordable Health Care Act.

Just the Facts - Volume 3, March 2010
Our Just the Facts newsletter gives you the big picture on the status of IFRS adoption in the US, and around the world.

Venezuela to be Considered "Highly Inflationary" for 2010 Reporting Periods
Our publication provides guidance on the inflationary status of Venezuela.

FASB Statement No. 167: Internal control considerations
Our publication provides internal control considerations as management considers the implications of the adoption of Statement 167 on its internal control over financial reporting.

Just the Facts - Volume 2, December 2009
Our year-end wrap-up issue of Just the Facts gives you the big picture on the status of IFRS adoption in the US and around the world.

EY Point of View - The path toward a single global accounting standard
Our Point of View discusses the comment letter that our recently submitted to the IASB on its IAS 39 Exposure Draft (on financial instruments).

Just the Facts - Volume 1, September 2009
Our Just the Facts newsletter provides you with recently reported information on notable events and people that inform the conversation about convergence.

Global Corruption Report 2009: Executive summary
This is the executive summary from the report that highlights specific ways businesses can strengthen their protection and improve their performance against corruption.

IFRS 1: First-time adoption of International Financial Reporting Standards
Our publication summarizes the requirements of first-time IFRS and how IFRS 1 may affect US issuers transitioning from US GAAP to IFRS.

Current economic conditions: Accounting and reporting considerations
Our Current Economic Conditions publication is designed to help you understand and address certain accounting and financial reporting issues that may warrant increased focus because of today's market conditions.

European fraud survey 2009
This survey measures the perception of fraud risks and how management and board members are responding to the challenges.

Topics of interest to shareholders
Our publication is designed to help companies prepare for their annual shareholder meetings and provides questions we believe shareholders are likely to ask.

Implementing XBRL - Developing a roadmap for the SEC mandate
The Roadmap provides an XBRL implementation framework and discusses various matters that companies should consider when preparing for, and complying with, the SEC rule.

Inside IFRS: The opportunity for internal audit
Our publication outlines how internal audit can assist business units with in their conversion efforts.

Counterparty nonperformance risk
Our publication highlights important accounting and reporting considerations related to counterparty nonperformance risk.

IFRS for Audit Committees and Boards of Directors
Our publication is designed to help directors and audit committee members understand the potential scope of the change management exercise that the conversion may present to their business.

Helping you prepare for your annual meeting
Our publication is designed to help companies prepare for their annual shareholder meetings and provides questions we believe shareholders are likely to ask.