The SEC proposed amendments to the rules that define which companies and advisers qualify as small entities for purposes of the Regulatory Flexibility Act.
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TOPICS
Accounting & reporting
Key signals from the SEC-PCAOB conference point to a busy new year
Susan S. Coffey, CEO–Public Accounting at the Association of International Certified Professional Accountants, shares her top takeaways from last week’s Conference on Current SEC and PCAOB Developments, including observations on audit quality improvements and hints of significant SEC activity in early 2026.
GASB issues guidance on subsequent events
GASB issued Statement No. 105, Subsequent Events, which clarifies types of subsequent events and information that should be part of disclosures related to the events.
FASB publishes its taxonomies for 2026
Available documents include the 2026 GAAP Financial Reporting Taxonomy and the 2026 SEC Reporting Taxonomy.
Reviewing accounting standards updates for 2025
The December A&A Focus webcast reviewed FASB ASUs becoming effective for calendar year-end engagements and looked forward to 2026, delivered practical insights on determining lease terms under FASB ASC Topic 842, and took a look at the nuances of your client’s tax-basis accounting framework.
FASB issues standard to improve interim reporting
The Accounting Standard Update aims to clarify existing reporting requirements, in part by creating a comprehensive list of interim disclosures that are required in interim financial statements.
New SEC chair to CPAs: ‘Back to basics’
Paul Atkins, appearing at the AICPA Conference on Current SEC & PCAOB Developments, asked accounting professionals to focus on financial materiality and provided his thoughts on the future of the PCAOB, crypto, and IPOs.
FASB publishes guidance on accounting for government grants
A new Accounting Standards Update establishes previously missing GAAP guidance related to the recognition, measurement, and presentation of government grants received by a business entity.
IFRS 18: A fundamental redesign of financial statement presentation
The new international accounting standard is aimed at more consistent reporting that’s better aligned with how businesses are run.
FASB updates guidance for hedge accounting, purchased loans
A pair of recently published Accounting Standards Updates recommend five areas for applying economic hedges and address stakeholder concerns related to accounting for acquired financial assets.
Writing an effective AI prompt for an audit
Explore AI in audit, SQMS documentation strategies, and fraud prevention insights from the November 2025 A&A Focus webcast for accounting professionals.
California issues draft guidance for climate risk disclosure
Large companies that conduct business in the state have until Jan. 1, 2026, to publish their first climate-related financial risk reports.
Reputation, security, compliance: Why AI risk disclosures are surging
Nearly three-quarters of S&P 500 companies have disclosed at least one AI-related risk in Form 10-K filings so far in 2025. Learn what types of companies are reporting risk and what exactly they’re disclosing.
Insights into the practical effects on CECL by FASB ASU 2025-05
The October A&A Focus webcast also examined considerations of using a cash-basis accounting method and considerations for auditing revenue.
Right-size your quality management documentation for SQMS No. 1
Optimize quality management documentation for SQMS No. 1. Check out these practical tips to keep documentation appropriate and comprehensive, yet right-sized. Remember, the QM deadline is Dec. 15.
FASB update refines reporting scope for derivatives
In response to “the broad and evolving application of the definition of a derivative,” FASB issued an Accounting Standards Update that aims to address stakeholder concerns about the application of derivative accounting.
FinCEN postpones anti-money-laundering rule
The Financial Crimes Enforcement Network said Monday that it will revisit the scope of an anti-money-laundering rule that affects small registered investment advisers. It said the effective date was expected to be postponed from Jan. 1, 2026, to Jan. 1, 2028.
A&A Focus recap: AI considerations in A&A, GASB updates, and practical lease accounting challenges
The September webcast featured insights on leveraging artificial intelligence in practice, recent developments in state and local government accounting, and practical challenges with ASC 842 lease identification.
Accounting for software: FASB issues improved guidance
The Accounting Standards Update aims to simplify the reporting of internal-use software costs.
OMB announces plan to eliminate 60 accounting rules for federal contractors
The White House Office of Management and Budget’s Cost Accounting Standards Board published a final rule and a proposed rule that would eliminate “redundant” requirements.
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