PCAOB Finds Deficiencies at 21 Audit Firms
The PCAOB identified deficiencies in the work of 21 audit firms in the board’s most recent round of inspection reports, …
Companies Already Have Implementation Questions on SEC’s New Pay vs. Performance Rule
The Securities and Exchange Commission’s Division of Corporation Finance (CorpFin) staff has already been getting implementation inquiries about the commission’s …
Staff Accounting Bulletin on Crypto Safeguarding Obligations is Not SEC Rule, Senior Official Says
During a financial reporting conference, the SEC’s top accounting official emphasized that Staff Accounting Bulletin (SAB) No. 121 related to safeguarding obligations …
FASB Chair: Crypto Accounting Proposal Coming in First Half of 2023
A FASB proposal on the accounting for cryptocurrencies will be issued during the first half of next year to solicit …
FASB Proposes Biggest Changes in 25 Years for Public Company Disclosure of Business Unit Expenses
The FASB on Oct. 6, 2022, issued a proposal that would require public companies to disclose any significant expenses that …
Newly Minted FASB Rules on Supplier Finance Programs Will Reveal Financial Health of Companies
Starting next year, U.S. companies that use supplier finance programs to buy goods or services must disclose the full terms …
Other Regulators are Discussing Implications of SEC Staff Accounting Bulletin on Crypto Safeguarding Activities
In response to a question at a conference about whether the Public Company Accounting Oversight Board is thinking about providing …
Private Companies Don’t Want to be Struck Out of Crypto Accounting Rules Being Developed
Private Company Council (PCC) Chair Candace Wright on Sept. 22, 2022, said new accounting rules the FASB is developing for …
Investor Advisory Committee Recommends SEC to Review Current Accounting Standard-Setting Practices
The Securities and Exchange Commission’s (SEC) Investor Advisory Committee (IAC) on Sept. 21, 2022, unanimously voted to recommend that the …
Accounting Rules Related to Leasehold Improvements May Change for Both Public and Private Companies
The FASB on Sept. 21, 2022, voted by 4 to 3 to issue a proposal that would change the accounting …