News & Insights
ASU 2025-06 – Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40) (Targeted Improvements to the Accounting for Internal-Use Software)
ASU 2025-06 updates ASC 350-40 to better fit modern internal-use software development (agile, SaaS, iterative builds) and reduces diversity in practice on when to capitalize vs expense software...
Year End External Audit Preparedness Checklist
This checklist outlines key activities finance leadership teams should consider before calendar year-end to position the organization for an efficient and “no surprises” external audit. 1. Align on...
Fair Value in Deals: Hot Button in Purchase Price Allocations (PPAs)
Key Highlights for Finance Function Auditors are intensifying their focus on fair value measurements in M&A transactions, particularly in purchase price allocations (PPAs). PCAOB inspection...
Change in Accounting for Share-Based Payment Awards to Customers
The Financial Accounting Standards Board issued ASU 2025-04, Clarification to Share-Based Consideration Payable to a Customer (ASU 2025-04) to clarify how to account for share-based awards (e.g.,...
SOCF and Disclosure: Increased Scrutiny of the Statement of Cash Flows
What is happening Auditors are elevating procedures over the statement of cash flows (SoCF) and related disclosures, with heightened attention on classification judgments, completeness of noncash...
SEC Comment Letter Trends – Public and Private
The following outlines each of the SEC’s current comment letter focus areas, with a brief explanation of why they matter in today’s environment. These summaries highlight both the long-standing...
Enhanced Disclosure for the Effective Tax Rate Reconciliation and Income Taxes Paid
Accounting Standards Update (ASU) 2023-09, Improvements to Income Tax Disclosures (ASU 2023-09) creates additional disclosure requirements to address stakeholder requests for more information...
Increased Auditor Scrutiny of Financial Statement Disclosures
Key Highlights for Finance Function Auditors and regulators are raising the bar on disclosure quality. From MD&A cause-and-effect analysis to non-GAAP prominence, new FASB...
Virtas Partners and Performance Improvement Partners Form Strategic Alliance for Full Lifecycle Support in Middle-Market Private Equity
Chicago, Illinois — August 25, 2025 — Virtas Partners, an established advisory firm specializing in Office of the CFO solutions and Performance Improvement Partners (PIP), a leading M&A and IT...
Goodwill & Intangibles: Amortization, Impairment, and Audit Hot Spots
What's Happening: The debate around goodwill and intangible asset accounting continues to heat up. The FASB has received sustained feedback on whether goodwill should return to an amortization model...