Accounting and regulatory update for public and private companies

Our second 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
  • Current expected credit losses (CECL) considerations for private companies implementing in 2023
  • FASB Exposure Drafts issued in second quarter 2023
• Regulatory update
  • SEC reopens comment period for proposed amendments to Exchange Act Rule 3b-16 
  • SEC reopens comment period for proposed rule amendments to modernize beneficial ownership reporting
  • SEC adopts amendments to modernize share repurchase disclosure
  • Digital assets tool for audit committees
• Standards issued in 2023
• Standards issued in prior years effective 2023 or after