NASBA and AICPA Issue Proposed Revisions to CPE Provider Standards
NASBA and the AICPA recently issued proposed revisions to the Statement on Standards for Continuing Professional Education Programs for public comment.
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PCAOB Issues Interim Report on Critical Audit Matters
The PCAOB recently released an interim report evaluating the effect of a 2017 standard requiring the identification and reporting of critical audit matters (CAMs) in audit reports.
View MoreFASB Seeks Input on Proposed Update to Leases Guidance
The Financial Accounting Standards Board recently issued a proposed Accounting Standards Update intended to improve accounting guidance for arrangements between entities under common control.
View MoreFASB Seeks Input on Proposed New Chapter of Its Conceptual Framework
The Financial Accounting Standards Board recently issued a proposed new chapter of its Conceptual Framework related to the recognition and derecognition of an item in financial statements.
View MorePCAOB Proposes New Quality Control Standard
The Public Company Accounting Oversight Board recently issued for public comment a proposed new standard for quality control systems.
View MorePrivate Company Practical Expedient for Valuing Share-based Awards
Over a decade ago, the FASB established the Private Company Council to address accounting concerns associated with private companies. The PCC works with the FASB in determining whether accounting alternatives or practical expedients for private companies are needed in the U.S. GAAP. The FASB has issued several Accounting Standards Updates as a result of its joint effort with the PCC.
View MoreAccounting Implications From the Inflation Reduction Act of 2022
The Inflation Reduction Act1 of 2022 (the Act) was signed into law on Aug. 16, 2022. The Act has implications from an accounting and financial reporting perspective that certain entities should consider. In this article, we provide an overview of some possible accounting impacts for corporate entities across three areas.
View MoreGASB Seeks Feedback on Proposed Implementation Guidance
The Governmental Accounting Standards Board recently issued proposed implementation guidance in the form of questions and answers intended to clarify, explain or elaborate on certain GASB pronouncements.
View MoreFASB Takes Step Toward Fair Value Accounting of Cryptoassets
As part of its ongoing work on the disclosure of cryptoassets, FASB has tentatively decided to use fair value to measure certain cryptoassets in financial reporting.
View MoreSEC Adopts Recordkeeping Rule Amendments
The Securities and Exchange Commission recently adopted amendments to the electronic recordkeeping, prompt production of records and third-party recordkeeping service requirements applicable to broker-dealers, security-based swap dealers, and major security-based swap participants.
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