US DESK NEWSLETTER - A ROUNDUP OF ACCOUNTING, AUDITING, AND REGULATORY MATTERS
2.01.2024Company: Forvis Mazars s.r.o.
The US Desk Newsletter is a high-level summary of key developments from the standard setters, regulators, and compliance agencies that have recently affected the accounting profession. The Newsletter is best read in electronic format due to the embedded hyperlinks to supporting information.
EXECUTIVE SUMMARY
This edition of our US Desk Newsletter addresses relevant activities from July 1, 2023, to December 15, 2023. It covers accounting and auditing updates from the regulators. Most noteworthy:
PCAOB
The PCAOB issued a final rule on auditor’s use of confirmation. The PCAOB is also seeking comments on its standard related to amendments to PCAOB Rule 3502, Governing contributory liability.
SEC
The SEC adopted final rules related to (1) the adoption of its updated EDGAR filers manual, (2) prohibition against conflicts of interest in certain securitizations, (3) modernization of beneficial ownership reporting, and (4) cybersecurity risk management, strategy, governance, and incident disclosure.
AICPA
The AICPA issued proposed guidance to amend SSAE No. 18- Attestation Standards: Clarification and Recodification, as Amended, SSAE No. 19-Agreed-Upon Procedures Engagements, SSAE No. 21-Direct Examination Engagements, and SSAE No. 22-Review engagements.
FASB
The Financial Accounting Standards Board (FASB) issued account standards updates (ASU) relating to
Topic 820—Segment Reporting, Topic 805—Business Combination, Topic 405—Liabilities, Topic 205—Presentation of Financial Statements, Topic 220—Income Statement-reporting comprehensive income, Topic 718—Stock Compensation, and various disclosure improvements. In addition, the FASB proposed guidance related to Topic 220— Income Statement-reporting comprehensive income.
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Tags: Finance |
