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August 22, 2022

FASB issues proposal to improve accounting for investments in tax credit structures

The FASB issued a proposed Accounting Standards Update intended to improve the accounting and disclosures for investments in tax credit structures.

August 3, 2022

IAASB issues new FAQs for reporting going concern matters

The IAASB has issued a nonauthoritative publication to address some of the common questions related to reporting going concern matters in the auditor’s report.

July 27, 2022

AICPA & CIMA comment on ISSB drafts of sustainability disclosures

A comment letter applauds efforts to develop global standards for disclosing sustainability information and provide suggestions related to the two exposure drafts.

July 15, 2022

FASB proposes changes to transition requirements in insurance guidance

FASB issued a proposed Accounting Standards Update (ASU) that would amend transition guidance in an update from 2018 for long-term insurance contracts that have been derecognized because of a sale or disposal of individual or a group of contracts or legal entities before the effective date.

July 1, 2022

Tackling the IT challenges of dealing with cryptoassets

Digital assets, from bitcoin to tokens, are a new asset class that challenges technology used for enterprise resource planning and financial reporting. Here’s what you should consider if you decide to take on these challenges.

June 30, 2022

FASB issues standard to improve fair value guidance for equity securities

FASB issued an Accounting Standards Update that improves financial reporting for investors and other financial statement users.

June 29, 2022

FASB adds three new projects to technical agenda

FASB announced the addition of three new projects to its technical agenda based on feedback received during its 2021 agenda consultation project.

June 24, 2022

AICPA publishes Q&A to explain SEC guidance on cryptoassets

The AICPA has published a set of questions and answers that explains recently released SEC staff guidance regarding the accounting for entities that have obligations to safeguard cryptoassets held for their platform users.

June 16, 2022

GASB streamlines guidance on compensated absences with unified model

The GASB updates the model for compensated absences to enhance recognition and measurement requirements and simplify disclosure requirements.

June 14, 2022

Addressing continued rise in Sarbanes-Oxley Act compliance costs

An annual survey reveals higher compliance costs in 2022 and suggests that automation may present a path to better efficiency.

June 13, 2022

FASB invites stakeholders to share views on accounting for government grants

FASB is seeking feedback on whether IAS 20 represents a workable solution for improving generally accepted accounting principles for business entities as it relates to the accounting for government grants.

June 13, 2022

GASB guidance focuses on improving, clarifying standards for accounting changes

GASB issued guidance designed to improve the accounting and financial reporting requirements for accounting changes and error corrections.

June 3, 2022

SEC announces updates to electronic filing requirements

The SEC said it has adopted amendments to require the electronic filing or submission of certain documents that currently are permitted to be filed or submitted in paper format.

June 1, 2022

Goodwill triggering event alternative provides relief to some companies

Learn how FASB’s goodwill accounting alternative for evaluating triggering events can make financial reporting easier for private companies and not-for-profit entities beyond the pandemic.

May 27, 2022

FASB to explore rules on accounting for ESG credits

The FASB said last week that it will explore new rules regarding the accounting for financial instruments with ESG-linked features and regulatory credits.

May 26, 2022

SEC proposes enhanced disclosures related to ESG

The SEC proposed amendments to rules and reporting forms to promote consistent, comparable and reliable information for investors concerning funds’ and advisers’ incorporation of environmental, social and governance factors.

May 10, 2022