United States: Accounting and Audit

In July 2025, the California Privacy Protection Agency (CPPA) Board unanimously approved new regulations pursuant to the California Consumer Privacy Act (CCPA) that specifically address the use...

On July 23, 2025, the Internal Revenue Service ("IRS") issued interim guidance for Large Business & International Division ("LB&I") audit procedure. The IRS announced three major changes: (1) the Acknowledgement...

On July 24, 2025, the California Privacy Protection Agency (CPPA) approved new regulations requiring some companies to conduct audits of their cybersecurity programs...

The U.S. Supreme Court in RadLAX Gateway Hotel, LLC v. Amalgamated Bank

In a unanimous decision, on May 29, 2012, the Supreme Court of the United States upheld an important protection against "cramdown" afforded to lenders in Chapter 11 cases.

On May 29, 2012, the U.S. Supreme Court, in a unanimous decision, resolved a high-profile circuit split regarding the right of secured creditors to credit bid in an asset sale under a chapter 11 plan.

The EBA highlights the importance of the booking arrangements to the whole TCB prudential framework; forming the basis of the classification of TCBs and consequently the intensity of the supervisory regime applicable to the TCB.

On July 25, 2025, Chairman Mark Christie announced that the Commission's Office of Enforcement is getting a new name—the Office of Enforcement and Regulatory Accounting (OERA).

As companies finalize their Q2 2025 reporting, tax departments are once again navigating a shifting landscape of legislative and regulatory change. The centerpiece of this quarter's developments was the advancement...

Nonprofit organizations that sponsor retirement plans such as 401(k) and 403(b) plans are subject to two separate, but related, newly finalized U.S. Department of Labor regulations regarding disclosure of retirement plan fees that will become effective soon: (1) vendor-to-plan disclosure, and (2) plan-to-participant disclosure.

In the nearly seven years since the United States Bankruptcy Code was amended to include a new Chapter 15 to address cross-border insolvencies.

The IRS has finalized regulations (T.D. 9582) regarding whether the order in which a trust or estate distributes income to charity under its governing instrument will be respected for federal income tax purposes.