Accounting & reporting news and resources

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May 18, 2023

SEC proposals address risk management for clearinghouses

The proposals would require the establishment of a risk-based margin system that monitors intraday exposure on an ongoing basis, in addition to requiring a more robust recovery and wind-down plan.

May 17, 2023

Why private companies need a plan for ESG reporting, assurance

Even if regulations don’t legally apply to private companies, they often apply from a practical standpoint. A new resource offers guidance on the importance of assuring sustainability data for public and private companies alike.

May 15, 2023

FASAB seeks feedback on its existing standards

The FASAB is seeking comments on its Reexamination of Existing Standards project to ensure that its standards meet users’ needs and provide financial information that supports public accountability and transparency.

May 12, 2023

FASB issues proposed changes to profit-sharing arrangements

FASB is seeking comments on a proposed Accounting Standards Update related to guidance for entities on determining whether profits interest and similar awards should be accounted for as share-based payment arrangements.

May 3, 2023

SEC increases transparency requirements for private, public securities

One set of amendments affects advisers for large hedge funds and private-equity funds; a second set of amendments increase public company disclosures related to buybacks.

April 27, 2023

How the Financial Accounting Foundation plans to strengthen oversight

The organization’s latest effort provide a more convenient way for stakeholders with questions about due process in standard-setting to voice their concerns.

April 7, 2023

FASAB issues statement to clarify lease terms

The Federal Accounting Standards Advisory Board issued a statement intended to provide targeted technical clarifications to further facilitate implementation of SFFAS 54, Leases.

March 30, 2023

COSO releases internal control guidance for sustainability reporting

COSO has published supplemental guidance that can be used to apply its internal control framework to reporting on sustainability.

March 27, 2023

FASB issues update to leases guidance

The amended Accounting Standards Update addresses concerns related to terms and conditions to be considered and accounting for leasehold improvements.

March 23, 2023

FASB issues proposed changes to cryptoasset accounting, disclosure

FASB is seeking comments on a proposed Accounting Standards Update that is intended to improve the accounting for and disclosure of certain cryptoassets.

March 22, 2023

SEC moves toward requiring electronic filings

The commission proposed amendments that would require registrants to file a number of submissions electronically as it works to modernize the agency’s information collection and analysis methods.

March 17, 2023

FASAB issues bulletin on reimbursable work agreements

FASAB issued a technical bulletin to further explain and address accounting issues not directly covered under Statement of Federal Financial Accounting Standards 54 and other relevant statements.

March 15, 2023

SEC proposals target cybersecurity

Proposals would expand who must report on cybersecurity and data breaches, as well as what they must report.

March 15, 2023

FASB proposes enhancements to income tax disclosures

FASB is seeking comments on a proposed Accounting Standards Update that addresses requests for improved income tax disclosures.

March 15, 2023

3 trends that will reshape accounting and finance in 2023

The chief accounting officer of Workday shares on technology and talent strategy, zero-day close, and accounting’s role in driving value creation.

March 1, 2023

Managing interest rate risk with FASB’s new hedging flexibility

Find out how to apply FASB’s updated
hedge accounting guidance, which more
closely aligns a company’s financial
reporting with the results of its risk
management strategy.

February 27, 2023

FAF debuts enhanced access to online accounting standards

The Financial Accounting Foundation released its free, enhanced online access to the FASB Accounting Standards Codification and the GASB Governmental Accounting Research System.

February 27, 2023

Opportunity knocks for firms as ESG reporting, assurance levels rise

More large companies than ever are reporting ESG data and obtaining assurance, according to a global survey, prompting many U.S. audit firms to explore how to best position themselves for an increased role.

February 23, 2023

First global sustainability standards approach the finish line

The International Sustainability Standards Board announces that IFRS S1 and IFRS S2 will be released in June and effective for some companies in 2024.

February 15, 2023

SEC adopts rule changes to reduce risks, proposes two other rules

The SEC adopted rule changes to reduce risks in clearance and settlement, shortening the standard settlement cycle for most broker-dealer transactions in securities, and proposed two other rules.