December 1st Deadline to Adopt Executive Compensation Clawback Policies — The Consumer Finance Podcast
Quality Of Earnings: Making The Most Of M&A Transactions
Podcast: ESMA Report: Undue Pressure on Companies
Podcast: Private Funds Update: The UK Stewardship Code 2020
Innovation in Compliance Episode 12: How ESG Factors will Change Compliance with J.R. Lowry
New Revenue Recognition Standard-Part V, What does it all mean?
Everything Compliance-Episode 12
FCPA Compliance and Ethics Report-Episode 145-SEC Enforcement of the FCPA, Part II
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
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
Environmental law NGO ClientEarth has written to the Global Public Policy Committee (GPPC), which brings together representatives of the six large international accounting organizations, to request greater transparency and...more
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
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
On March 23, 2023, the International Accounting Standards Board (IASB) commenced a new “maintenance” project to “explore whether and how financial statements can better communicate information about climate-related risks.”...more
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
Commercial loan documents may be impacted by new treatment of leases under ASC 842- Lenders and non-public companies should be aware of the impact of Financial Accounting Standards Board (FASB) ASC 842, the new lease...more
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
Assessing Materiality: Focusing on the Reasonable Investor When Evaluating Errors - On March 9, 2022, the Office of the Chief Accountant (“OCA”), released a statement regarding assessing the materiality of financial...more
In December 2021 the Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) released their proposed amendments to their accounting standards that will require buyers of...more
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
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
In 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Leases. This new lease accounting standard (ASC 842) significantly impacts how private and public businesses across...more
Employing a “blend and extend” strategy to reduce near-term cash spend may be ideal in the current environment, but companies should also be aware of the associated hedge accounting implications....more
The Association of International Certified Professional Accountants (AICPA) hosted the 2020 AICPA Conference on Current SEC and PCAOB Developments this past week at which a number of SEC accountants participated, either...more
In response to the COVID-19 epidemic, the U.S. government has provided relief to companies through various grant programs. The receipt of these grant proceeds represents a meaningful lifeline to many companies and the...more
Certified public accountants are among those who may benefit from a mechanism announced by the Hong Kong government in May 2020 to exempt certain inbound travelers from compulsory quarantine. The exemption is provided under...more
As many parts of the United States begin to focus on recovering from the profound impact caused by the COVID-19 outbreak, businesses are looking to minimize the pandemic’s toll on their financial performance....more
In recent remarks, the Chief Accountant noted that the Securities and Exchange Commission’s Office of the Chief Accountant (OCA) and other divisions within the SEC are monitoring the issues raised by COVID-19....more
In the accounting profession, the concept of materiality in financial reporting comes from two distinct areas: Generally accepted accounting principles (GAAP), and generally accepted auditing standards (GAAS). ...more
In December 2019, the American Institute of Certified Public Accountants (AICPA) revised its attestation standards to eliminate certain requirements for Agreed-Upon Procedures (AUP) engagements, thereby expanding the types of...more
The American Institute of Certified Public Accountants (“AICPA”) Auditing Standards Board issued Statement on Auditing Standards No. 138 and Statement on Standards for Attestation Engagements No. 20 to amend the concept of...more
We previously blogged about the recent AICPA conference. At the conference, representatives from the Office of Chief Accountant also shared some views regarding the discontinuation of LIBOR. The Staff of the OCA joined in the...more
At the AICPA conference we have previously blogged about, the Chief Accountant explained that the SEC’s Office of the Chief Accountant (“OCA”) is led by the Chief Accountant, who serves as the principal advisor to the SEC on...more