Investigations and Forensic Accounting

Chess Consulting assists companies and their legal counsel with internal and government-initiated investigations, as well as forensic accounting-based investigations. Our technical accounting and audit experts bring significant forensic accounting, damage analysis, and litigation support experience to find the root cause of issues and bring clarity to complex matters.

Our investigation and forensic accounting areas of expertise include, but are not limited to:

Circumvention of Internal Controls
Complex Accounting and SEC Regulations
False Claims Act (FCA)
Foreign Corrupt Practices Act (FCPA)
Forensic Accounting
Accounting Errors and Irregularities
Voluntary Disclosures
White Collar Crime

FASB Update will Require Income Statement Disaggregation and Additional Disclosures

On November 4th, 2024, the Financial Accounting Standards Board (FASB) published an Accounting Standards Update (ASU), No. 2024-03 titled Disaggregation of Income Statement Expenses, which improves financial reporting by requiring public companies to disclose additional information about certain costs and expenses in the notes to financial statements. This ASU aims to improve financial reporting by requiring that public business companies disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods.

Important IFRS Update on Income Statement Presentation (with GAAP Comparison)

The International Accounting Standards Board (IASB) has introduced a new standard, IFRS 18, Presentation and Disclosure in Financial Statements, which is set to redefine financial performance reporting by improving the usefulness of information presented and disclosed in financial statements to enable better investment decisions. IFRS 18 introduces new requirements to improve companies’ reporting of financial performance and provide investors a better basis for analyzing and comparing companies’ statements through improved comparability in the income statement, enhanced transparency of management-defined performance measures, and more useful grouping of information in the financial statements.

Financial Reporting Update: April 2024

Our Financial Reporting Update highlights key developments and issues that are relevant to finance and accounting personnel. This edition includes updates on the FASB, SEC, AICPA and PCAOB.

Financial Reporting Update: April 2023

Our Financial Reporting Update highlights key developments and issues that are relevant to finance and accounting personnel. This edition includes updates on the SEC, PCAOB, and FASB.