Technology and Health & Life Sciences
Cybersecurity Risk Management Guidance Proposed
The following exposure drafts have been issued by the American Institute of Certified Public Accountants’ (“AICPA”) Assurance Services Executive Committee, offering guidance for evaluating cyber risk management: Proposed Description Criteria for Management’s Description of an Entity’s Cybersecurity Risk Management Program (“Description Criteria”). This exposure draft is intended for a company’s management when developing and describing its organization’s cybersecurity risk management program, and by public accounting firms for reporting the description of the program. The AICPA hopes developing a conventional set of criteria will clear the path for a cybersecurity examination to assist in evaluating the efficiency of an organization’s cybersecurity. Read More.
Working Drafts Offer Revenue Recognition Guidance for Telecommunications Suppliers
Revenue recognition implementation guidance could be on the way for telecommunications providers. Last week, the American Institute of Certified Public Accountants’ Financial Reporting Executive Committee issued two working drafts offering industry-specific guidance for adopting the Financial Accounting Standards Board’s Accounting Standards Update No. 2014-09, Revenue From Contracts With Customers. Proposed Issue #15-1– Portfolio Accounting, proposes that a telecommunications supplier can use the portfolio accounting shortcut when a large disparity does not exist when accounting for contracts jointly rather than individually. The draft guidance advises what suppliers should consider when deciding whether to use the portfolio approach. The second working draft,. Read More.
Chris Rux Discusses Cherry Bekaert’s Innovation Fund
In an August 31 article for Tampa Bay Business Journal, Cherry Bekaert’s Chris Rux helped promote the launch of Cherry Bekaert’s Innovation Fund . The article, “Tampa Accounting Firm Pays Up for Outside-the-Box Ideas,” highlights how the fund is designed to generate ideas and provide solutions for the benefit of the Firm’s clients. The concept behind the Innovation Fund originated from the leadership group of Cherry Bekaert’s THInc practice, for which Rux serves as the leader for central Florida. The goal of Cherry Bekaert’s Innovation fund is to encourage associates to present ideas that are original and outside the box. In the article, he is quoted as saying, “We as. Read More.
Will Middle-Market Private Equity Activity Continue to Decline?
PitchBook’s latest report reveals a continuing slowdown in private equity (“PE”) activity among the country’s middle market. According to the 2Q 2016 U.S. PE Middle Market Report, the total deal value of private equity middle-market investments during the first half of 2016 ($180 billion) dropped 8.5 percent, compared to the second half of 2015. Compared to the same period last year, the total volume declined 14 percent. Overall middle-market private equity activity, however, is declining at a slower rate than the broader private equity marketplace. The report also highlighted the lower middle market’s significant activity decline in second quarter 2016.. Read More.
Brexit: What It Could Mean for High Growth Companies
On June 23, 2016, 52 percent of the United Kingdom voted to exit the European Union. This process will not happen immediately and could take at least two years to complete. So, what will this mean to U.S. companies and how will it impact high growth companies? In working with innovative, high growth companies in the technology, health and industrial industries, Cherry Bekaert found that most executives believe there will be some type of impact on their business, but that impact will be minimal. Currency risks seem to be the top concern as this decision could hurt the British pound. Read More.
Taking Stock of Business Leaders’ Brexit Concerns — Your Input is Needed
As everyone grapples with what to make of the UK’s decision to leave the EU, we’re gathering the thoughts and insights of business leaders like you in an effort to make sense of it all. We’d like to know what you think the impact of Brexit will be on your business and your industry. In a tightly-knit global economy, fractures like this one are going to be felt more deeply – and by more people. So, what does this mean for your business? What will you need to know in the days ahead? Have a couple of minutes? Your specific vantage point could really provide some unique insights. The survey will close on. Read More.