The forthcoming draft Accounting Standards Update (ASU) on share-based payment, also known as stock-based compensation, from the Financial Accounting Standards Board (FASB) in the US will propose revisions relating to the representation of tax benefits and deficiencies in the income tax expense and statement of cash flows. However, the changes are unlikely to bring US Generally Accepted Accounting Principles (GAAP) closer to IFRS (International Financial Reporting Standards) on this issue.
Unlock this content.
The content you are trying to view is exclusive to our subscribers.
After joining Milbank from Akin Gump, the fund tax specialist discusses sponsor demand, practice building, and the tax challenges facing asset managers
New research, which suggests LLMs can silently corrupt complex documents, should alert tax and legal teams relying on AI to handle iterative drafting and compliance workflows
The firm has hired a team of private client lawyers from Withers to launch in New York and Connecticut, though ITR analysis suggests it faces stiff competition
The ability of tax authorities to receive and analyse data is becoming ‘quite advanced’, warns Stuart Lang, head of EY’s compliance co-sourcing solution