Accounting and regulatory update for public and private companies

Our fourth quarter update provides a summary of newly released accounting guidance, as well as financial reporting and regulatory activities that may impact both public and private companies.

Topics include:

• Accounting guidance
  • Accounting guidance issued in fourth quarter 2022
  • FASB proposes amendments to lease accounting standard for arrangements between entities under common control
• Regulatory update
  • SEC chief accountant discusses auditor’s responsibility for fraud detection  
  • Compensation recovery listing standards and disclosure rules   
  • Rules to enhance proxy voting disclosure by registered investment funds and require disclosure of “say-on-pay” votes for institutional investment managers
  • SEC staff issues guidance on crypto assets
  • Updates to compliance and disclosure interpretations
  • Impact of critical audit matters
  • Center for Audit Quality: 2022 Audit Committee Transparency Barometer Report
  • Center for Audit Quality’s second annual analysis of S&P 500 ESG reporting
  • SEC hot topics
    • Uncertain economic environment
    • Environmental, social, and governance
    • Non-GAAP measures
    • Disaggregation of financial information
    • Digital assets
• Standards issued in 2022
• Standards issued in prior years effective 2022 or after