Accounting and Audit Updates: Standards, Estimates, AI Impact
Accounting and finance teams continue to manage post-adoption issues under major accounting standards while auditors place greater emphasis on risk assessment, controls, IT dependencies, and documentation. In the first episode of PYA's The Bottom Line, Kathryn Good and Tim Partridge review ASC 842 lease accounting, SAS 145, CECL, controls over estimates, ASC 606 revenue recognition, selected SECURE 2.0 provisions, and practical uses of AI in accounting.
The discussion focuses on common implementation challenges, control considerations, documentation practices, and ways AI may assist with…
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