At Insero, we make it our business to stay abreast of the latest trends and technical updates in accounting, tax, and audit and we understand how important timely updates are to our clients. As a member of the RSM US Alliance, we also have the benefit of access to the resources and subject matter experts of RSM US LLP (formerly known as McGladrey LLP). This includes regular updates on the latest financial reporting insights. We hope that you find these informative and useful, and invite you to reach out to us if you have any questions.

New Revenue Recognition Resource Center goes live
RSM US LLP recently launched a Revenue Recognition Resource Center with information about the new guidance in FASB ASC Topic 606.
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IRS permits self-certification for safe-harbor hardship distributions
Two recent IRS memorandums provide guidance on plan participant hardship distribution substantiation requirements.
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Audit & Accounting Guide for employee benefit plans updated
The American Institute of Certified Public Accountants Audit & Accounting Guide, Employee Benefit Plans, was recently updated.
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Proposed reporting on financial statements of plans subject to ERISA
A recent AICPA proposal addresses the auditor reporting model for audits of employee benefit plans that are subject to ERISA.
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Audit and Accounting Updates for Business Owners and Financial Professionals

Source: RSM US LLP
Used with permission as a member of the RSM US Alliance
http://rsmus.com/our-insights/newsletters/financial-reporting-insights.html

As always, we hope you enjoy this edition of our newsletter and we look forward to receiving your feedback. Should you have any questions regarding the information contained in the attached materials or our service offerings, please contact us directly.