Around the end of the year, many practitioners are in the process of planning their 2020 preparation, compilation, review, audit, and other attest engagements and eagerly await the release of the CPEA’s annual report to remind them of all the new accounting standards which are newly effective.
This report includes a listing of the significant Accounting Standards Updates (ASUs) that now are effective for the first time for nonpublic business entities (entities other than a public business entity, a not-for-profit