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November 2, 2023

‘Moving so quickly’: The latest on ESG compliance

An AICPA director with a focus on ESG explains the many shifts happening in the compliance and reporting landscape in this podcast episode with transcript.

October 31, 2023

AICPA, others call for a one-year extension of BOI report deadline

In a letter to Treasury’s Financial Crimes Enforcement Network, the AICPA says the additional time will give all businesses a fair and reasonable time frame to become aware of the new and complex rule.

October 16, 2023

SEC addresses securities transparency; PCAOB addresses audit concerns

The SEC adopts several rules and amendments expanding and expediting the sharing of information; the PCAOB shares advice with auditors related to issues with engagement quality reviews.

October 13, 2023

FASAB committee issues updates to guidance on leases

The board’s Accounting and Auditing Policy Committee issued Federal Financial Accounting Technical Release (TR) 22: Leases Implementation Guidance Updates.

October 9, 2023

FASB amends codification to align with SEC disclosures

The Accounting Standards Update incorporates 14 disclosures from a 2018 SEC final rule into GAAP.

September 29, 2023

GASB addresses disclosure and classification of capital assets

GASB issued a proposal that would establish requirements for certain types of capital assets to be disclosed separately for purposes of note disclosures, allowing users to make informed decisions about these and to evaluate accountability.

September 29, 2023

AICPA releases quality management practice aid

The practice aid and supporting materials will help small- and medium-size firms and sole practitioners develop a QM system that aligns with a new set of QM standards.

September 28, 2023

Driving fuel efficiency: CPAs’ changing role in oil and gas reporting

The keynote speaker at an upcoming AICPA & CIMA conference previews his session on how current and pending ESG reporting rules may affect CPAs in the oil and gas industry.

September 22, 2023

PCAOB offers forum for auditors; SEC releases several updates

The PCAOB forum follows proposed changes aimed at increasing the board’s ability to hold individual auditors responsible for firm violations.

September 18, 2023

ESG Symposium synopsis: How to put firms in the driver’s seat

A new California law is the latest “market driver” pushing ESG reporting forward. With regulations rapidly developing on a global scale, the time has arrived for CPA firms to grab the wheel.

September 7, 2023

FASB approves cryptoassets standard

The board voted to issue a standard that defines the financial reporting requirements for certain crypto holdings and how the value of those assets should be measured.

September 7, 2023

FASAB seeks comment on guidance for management discussion and analysis

The Federal Accounting Standards Advisory Board is seeking feedback on an exposure draft aimed at updating the guidance for management discussion and analysis (MD&A).

September 1, 2023

FASB issues new chapter of its Conceptual Framework

FASB issued a new chapter of its Conceptual Framework related to the recognition and derecognition of criteria and guidance on when an item should be incorporated into and removed from financial statements.

August 31, 2023

An updated practice aid and how it can assist in audits of digital assets

Updates to a digital assets practice aid provide valuable information for accounting for and auditing of digital assets. A CPA explains more in this podcast episode with transcript.

August 25, 2023

FASAB seeks to enhance note disclosures in financial statements

The Federal Accounting Standards Advisory Board is accepting public comments on an exposure draft aimed at making note disclosures an ‘integral part’ of financial statements.

August 23, 2023

SEC adopts amendments impacting broker-dealers, private fund advisers

Fewer broker-dealers will be exempt from registering with FINRA; private fund advisers face new regulations.

August 23, 2023

FASB amendments address financials of newly formed joint ventures

The Accounting Standards Update aims to bring consistency to the financial statements of joint ventures when they are formed.

August 18, 2023

FASB details its investor outreach efforts

FASB engaged in more than 435 investor interactions in the last year, and the feedback collected is helping fuel several high-priority projects.

August 1, 2023

FASB proposes improvements to income statement expenses

FASB is seeking comments on a proposed Accounting Standards Update that is intended to provide investors with more decision-useful information regarding a public business entity’s expenses.

July 26, 2023

SEC adopts final rules regarding cybersecurity disclosures

The SEC adopted final rules requiring companies that file documents with the commission to disclose material cybersecurity incidents and provide periodic disclosure of the registrant’s cybersecurity risk management, strategy, and governance in annual reports.