News & Analysis as of

Securities and Exchange Commission (SEC) Accounting Standards

BakerHostetler

SEC Approves PCAOB’s Rule Expanding Contributory Liability

BakerHostetler on

For nearly two decades since its enactment in 2005, PCAOB Rule 3502 prohibited any “person associated with a registered public accounting” firm from taking or omitting to take an action knowingly or recklessly in a way that...more

WilmerHale

Making the Connection - What Do Recent SEC Enforcement Actions Mean for Cyber Controls?

WilmerHale on

On July 18, 2024, the U.S. District Court for the Southern District of New York dismissed most of the claims brought by the Securities and Exchange Commission (the “Commission”) against SolarWinds Corp. and its Chief...more

Cornerstone Research

Spike in Fourth Quarter SEC Accounting and Auditing Enforcement Activity Results in Notable Increase in FY 2023

Cornerstone Research on

The U.S. Securities and Exchange Commission expanded its accounting and auditing enforcement activity in fiscal year 2023, while monetary settlements dropped for the second consecutive year, according to a new report released...more

Cooley LLP

FASB issues final ASU requiring enhanced disclosure of segment expenses

Cooley LLP on

The FASB has announced a final Accounting Standards Update designed to improve disclosures about public companies’ reportable segments, particularly disclosures about significant segment expenses—information that the FASB...more

BakerHostetler

Firms Announce New Crypto Initiatives; Court Overturns Bitcoin ETF Rejection; FASB Updates Crypto Accounting Standard; SEC Brings...

BakerHostetler on

SWIFT Publishes Blockchain Pilot Findings; Firms Announce USDC Integrations - According to a recent press release, the Society for Worldwide Interbank Financial Telecommunication (Swift) recently published a report with...more

Cooley LLP

FASB wants more disclosure about expenses

Cooley LLP on

FASB is moving ahead with new requirements for more information about public company expenses, approaching the issue from two perspectives: disaggregation of income statement expenses and segment reporting. More specifically,...more

Morgan Lewis

New FASB Standards Mandate Disclosure of Reverse Factoring Programs

Morgan Lewis on

Due to new standards issued by the Financial Accounting Standards Board (FASB) in late 2022, companies with supply chain financing are now required to comply with additional disclosures intended to monitor and understand the...more

Ballard Spahr LLP

FASB Proposes New Crypto Accounting Standards, SEC Alert Reinforces ‘Securities’ Enforcement Authority

Ballard Spahr LLP on

Summary - The past week was a busy one in the cryptocurrency sphere: The Financial Accounting Standards Board (FASB) proposed new standards for crypto assets, and the SEC released an alert urging investors to remain...more

Mayer Brown Free Writings + Perspectives

SEC Accounting Standard Setting Statement

The SEC’s Chief Accountant Paul Munter, released a statement “Accounting Standard Setting in a Rapidly Evolving Business Environment: A Focus on the Timely Delivery of Investor Priorities,” discussing improvements to...more

WilmerHale

Changes to ASC 280 (Segment Reporting) Appear Likely

WilmerHale on

Segment reporting - a frequent topic of SEC comments and the subject of long-running debate at the Financial Accounting Standards Board (FASB) - continues to appear on the FASB’s Technical Agenda, with some likely changes on...more

Cooley LLP

More financial information about human capital? FASB looks to require disaggregation of expenses on the income statement

Cooley LLP on

In June, the Working Group on Human Capital Accounting Disclosure, a group of ten academics that includes former SEC Commissioners Joe Grundfest and Robert Jackson, Jr. and former SEC general counsel, John Coates, submitted a...more

Goodwin

OCC Solicits Research on Implications of Financial Technology for Banking

Goodwin on

Regulatory Developments - OCC Solicits Research on Implications of Financial Technology for Banking - On July 25, the OCC is seeking academic and policy-focused research on the impact that fintech and non-bank...more

Morrison & Foerster LLP

Top 10 International Anti-Corruption Developments for April 2022

Designed for busy in-house counsel, compliance professionals, and anti-corruption lawyers, this newsletter summarizes some of the most important international anti-corruption developments from the past month, with links to...more

Hogan Lovells

Global Accountants' Liability Update – April 2022

Hogan Lovells on

The Hong Kong Court of Appeal has denied an accountant’s appeal of a Disciplinary Committee of the Hong Kong Institute of Certified Public Accountants (HKICPA) order that cancelled her practicing certificate due to...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Staff Issues Digital Asset Accounting Guidance

On March 31, 2022, the Division of Corporation Finance and the Office of the Chief Accountant (Staff) of the U.S. Securities and Exchange Commission (SEC) published Staff Accounting Bulletin No. 121 (SAB 121), which provides...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: March 1, 2022

The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges. ...more

Holland & Knight LLP

SEC Chief Accountant Lauds FASB for Engaging Investors, Stakeholders on Potential New Standards

Holland & Knight LLP on

Paul Munter, acting chief accountant for the SEC's Office of the Chief Accountant, on Feb. 22, 2022, released a statement related to the Financial Accounting Standards Board's (FASB) effort to consult with investors and...more

Hogan Lovells

Global Accountants' Liability Update – February 2022

Hogan Lovells on

In mid-2020 the German stock corporation Wirecard became suspected of having falsified its records and to have made up assets in the magnitude of EUR 1.9 billion in its balance sheets. This prompted the German legislature to...more

Opportune LLP

Why Consider Early Adoption Of ASU 2020-06?

Opportune LLP on

In August 2020, the FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06” or the “ASU”). ASU 2020-06 simplifies an issuer’s accounting for convertible...more

Hogan Lovells

Global Accountants' Liability Update – December 2021

Hogan Lovells on

Our global team of securities and professional liability lawyers at Hogan Lovells is uniquely positioned to monitor legal developments across the globe that impact accountants’ liability risk. We have experienced lawyers on...more

Hogan Lovells

Global Accountants' Liability Update – October 2021

Hogan Lovells on

A company that specialized in the design and production of optical instruments (hereafter: the Company) hired an accounting firm and a tax consultancy firm (hereinafter: the Accountants) to prepare its annual accounts between...more

Hogan Lovells

Global Accountants’ Liability Update – September 2021

Hogan Lovells on

On 1 July 2021 a new bill came into force in Germany that substantially reshapes the legal framework for accountants (“Gesetz zur Stärkung der Finanzmarktintegrität – (Finanzmarktintegritätsstärkungsgesetz -FISG)”, “FISG”,...more

Faegre Drinker Biddle & Reath LLP

The SEC’s Renewed Focus on Accounting Misconduct

Two recent enforcement actions by the U.S. Securities and Exchange Commission (SEC), including a recent settled action against Kraft Heinz Co. (“Kraft”), underscore the agency’s renewed and continuing focus on accounting and...more

Hogan Lovells

Global Accountants’ Liability Update – May 2021

Hogan Lovells on

Court of Appeal rules in favor of accounting firm in breach of contract claim - The Court of Appeal has rejected a claim from a California-based businessman that a global accounting firm failed to ensure that its...more

Cooley LLP

Blog: SEC to scrutinize company accounting for impact of climate

Cooley LLP on

In February, then-Acting SEC Chair Allison Lee directed the staff of Corp Fin, in connection with the disclosure review process, to “enhance its focus on climate-related disclosure in public company filings,” starting with...more

96 Results
 / 
View per page
Page: of 4

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide