As calendar-year companies work to complete their 2019 financial reporting for SEC Form 10-K, they should be aware of upcoming changes to accounting rules. While the changes to credit impairment have been widely covered, several narrower changes…

The SEC is taking a fresh look at its auditor independence rules, which help ensure public company auditors are independent of their clients in both fact and appearance. Read on for details on proposed changes intended to more effectively and…

The U.S. Senate Appropriations Committee issued report language in the recently passed Consolidated Appropriations Act for Fiscal Year 2020 that includes a section directing federal financial regulators to conduct a study on the need, if any, for…

The SEC recently issued Staff Accounting Bulletin (SAB) 119, which updates previous guidance to reflect the new credit impairment rules in FASB’s Accounting Standards Update 2016-13, commonly referred to as CECL. SAB 119 updates methodologies and…

The SEC recently issued a statement to encourage market participants who have not already done so to begin managing their transition away from the U.S. dollar London Interbank Offered Rate (LIBOR). The SEC notes that reference rate reform could have…

In December 2013, the SEC began a comprehensive review of current disclosures to identify those that were excessive, unduly complex and redundant. The SEC highlighted several disclosures that overlap with generally accepted accounting principles …

The Federal Housing Finance Agency recently released the Single Security Initiative (SSI), which aims to standardize the process of securities issued by Freddie Mac and Fannie Mae by requiring both entities to issue Uniform Mortgage-Backed…

The SEC recently released a proposal that would update the definitions for accelerated and large accelerated filers and also revise their transition thresholds. Read on to see what smaller reporting companies would have to do with their internal…

FASB recently issued Accounting Standards Update (ASU) 2019-04 to address the many implementation issues arising from its new credit impairment model, known as CECL. Buried within the ASU’s 130 pages is one urgent issue for insurance companies.

The SEC released a final rule last year updating disclosure requirements. The overall objective of the changes was to reduce excessive, superseded and redundant disclosure. Read on for information on a new stockholders’ equity disclosure that’s…