An annual survey reveals higher compliance costs in 2022 and suggests that automation may present a path to better efficiency.
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Accounting & reporting
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.
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.
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.
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.
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.
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.
FASAB seeks input on proposed amendments related to leases
The FASAB proposed changes intended to clarify the application of lessee and lessor discounting requirements.
GASB addresses range of practice issues in statement
In an omnibus statement, the GASB issued guidance and clarifications on numerous accounting and financial reporting issues.
SEC extends comment period on climate-related disclosure proposal
The SEC announced an extension in the public comment period for its proposal on climate-related disclosure requirements.
Accounting for employee retention credits
Companies that received financial assistance during the pandemic have questions about which standards to apply related to accounting for the ERC.
What CPAs should know, and ask, about NFTs
An expert on digital assets, also an ENGAGE speaker, explains nonfungible tokens and addresses accounting questions related to NFTs in this podcast episode with transcript.
FASB proposal would extend time for reference rate reform relief
A proposal by the FASB would extend by two years the guidance related to reference rate reform relief and expand the definition of the Secured Overnight Financing Rate (SOFR).
Climate change: What the SEC proposal means for companies, auditors
The SEC’s recently issued climate change disclosure proposal would require companies to embrace a comprehensive, sophisticated approach to climate reporting.
FASB addresses troubled debt, vintage disclosures in CECL standard
FASB changed its credit losses standard, eliminating accounting guidance for troubled debt restructuring by creditors and enhancing disclosure requirements for vintage disclosures.
How to navigate new disclosures for government assistance
After a rush of government programs provided pandemic-related relief, the Financial Accounting Standards Board issued a standard requiring new disclosures for government assistance.
SPACs would face new disclosure requirements under SEC proposal
The SEC proposed rules that are intended to provide investors with more information and protection in initial public offerings by special purpose acquisition companies.
FASAB proposes conforming amendments to 4 technical releases
A proposal issued Wednesday by the Accounting and Auditing Policy Committee of the Federal Accounting Standards Advisory Board would amend four federal government accounting standards technical releases to conform with recently issued guidance.
FASB issues expanded hedge accounting standard
The Financial Accounting Standards Board (FASB) has published an Accounting Standards Update designed to better align hedge accounting with an organization’s risk management strategies.
SEC seeks to regulate principal trading firms
The SEC proposed new rules Monday that would require certain entities, most notably principal trading firms, to register with the Commission and to comply with federal securities laws and regulatory obligations.
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Trust distributions in kind and the Sec. 643(e)(3) election
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