Insights

In 2016, the Financial Accounting Standards Board (“FASB”) issued new accounting guidance to estimate credit losses on financial assets, with staggered effective dates commencing in January 2020.

Plan sponsors often struggle to get lower-paid employees to participate in the company 401(k) plan. For years, a little-known law has been in place to give tax credits to low-income employees to help them save for retirement.

Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates (File Reference No. 2019-750).

Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (File Reference No. 2019-740).

With many recent changes to the System and Organization Controls (SOC) reports guidelines, SIFMA AMG and BDO have prepared this guide for asset managers to understand the function of the SOC 2 report, and its role in asset managers’ third party risk programs.

When a plan sponsor hires a service provider, that organization and its professionals become part of the team operating the client’s retirement plan. Each member of the team is expected to perform a specific task according to what is prescribed in the plan document. But how do you know whether each service provider has effective systems and controls in place to ensure that they are executing their roles correctly?

We believe that audit quality includes effective, efficient, technology-enabled and technically compliant audits that are highly valued and relied upon by users of the financial statements and are performed by people doing evaluative, insightful and impactful work.

Through our inclusion strategy, BDO encourages diverse voices and empowers our professionals – whoever they are, and wherever they are from.

We work with clients from entrepreneurial businesses to global public companies, deploying the right resources at the right time.