Audit Risk Alert: General Accounting and Auditing Developments 2018/19

General Accounting and Auditing Developments -- 2018/19 .01-338 How This Alert Helps You 01-03 Economic and Industry Developments 04-08 The Current Economy 04-05 Key Economic Indicators 06-08 Legislative and Regulatory Developments 09-25 Tax Cuts & Jobs Act 09-11 Inspections of Broker-Dealer 12-25 Audit and Attestation Issues and Developments 26-133 The AICPA Enhancing Audit Quality Initiative 26-43 Compliance with the Risk Assessment Standards 44-55 Emerging Technologies: What Practitioners Need to Know 56-69 Cybersecurity 70-71 Auditing Standards Board 72-93 Accounting and Review Services Committee 94-116 Common Peer Review Findings 117-133 Revenue Recognition 134-172 Overview 134-136 Effective or Applicability Date 137-138 Overview of the New Guidance 139-141 Understanding the Five-Step Process 142-153 Additional Guidance under the New Standard 154-155 Transition Resource Group 156-157 Latest Developments 158-171 Conclusion 172 New Leases Standard Will Change Financial Statement Presentation 173-207 Issuance and Objective 173-174 Applicability and Effective Date 175-176 Main Provisions 177-188 Lessee Accounting 189-195 Lessor Accounting 196-200 Sale and Leaseback Transactions 201-202 Leveraged Lease Arrangements 203 Land Easement Practical Expedient 204-206 Targeted Improvements 207 Accounting for Financial Instruments 208-230 Overview 208-209 Applicability and Effective Date 210-213 Impairment 214-228 Hedge Accounting 229 Conclusion 230 Other Accounting Issues and Developments 231-259 Comprehensive Income 232-234 Stock Compensation 235-239 Disclosure Framework 240-245 Defined Benefit Plan 246-252 Internal-Use Software 253-259 Recent Pronouncements at a Glance 260-262 Recent Auditing and Attestation Pronouncements and Guidance 260 Recent Accounting and Financial Reporting Guidance 261 Recently Issued Technical Questions and Answers 262 Recent AICPA Independence and Ethics Developments 263-272 AICPA Conceptual Frameworks Toolkits 263-264 Definition of a Client 265-272 On the Horizon 273-321 Auditing and Attestation Pipeline -- Nonissuers 275-284 Auditing and Attestation Pipeline -- Issuers 285-292 Accounting and Financial Reporting Pipeline 293-316 Independence and Ethics Pipeline 317-321 Resource Central 322-338 Publications 323 Continuing Professional Education 324-327 Webcasts 328 Member Service Center 329 Hotlines 330-337 Industry Websites 338