October 6, 2017

CAQ Public Policy and Technical Alert, September 2017

As part of the Center for Audit Quality’s ongoing effort to keep members and stakeholders informed on significant public policy and accounting matters, we are pleased to offer the Public Policy and Technical Alert (PPTA). Each month, the PPTA highlights and examines the regulatory, standard-setting, legislative, and broader financial reporting developments impacting the public company audit profession. Please note that the PPTA is intended as general information and should not be relied upon as being definitive or all-inclusive. The CAQ encourages member firms to refer to the rules, standards, guidance, and other resources in their entirety at the hyperlinks provided below. All entities should carefully evaluate which requirements apply to their respective organizations.

In This Issue:

PCAOB

  • PCAOB seeks additional public comment on proposed requirements for lead auditor’s use of other auditors

SEC

  • White House nominates Robert Jackson Jr. to fill SEC vacancy
  • SEC Division of Corporation Finance updates C&DIs
  • SEC Chairman Clayton issues statement on cybersecurity
  • SEC adopts interpretive guidance on pay ratio disclosure rule
  • SEC announces enforcement initiatives to combat cyber-based threats and protect retail investors
  • SEC provides regulatory relief and assistance for hurricane victims

FASB

  • FASB proposes 2018 GAAP Financial Reporting Taxonomy
  • FASB launches webpage for new standards implementation
  • FASB issues proposed ASUs

International

  • IASB proposes clarifications on distinguishing accounting policies from accounting estimates
  • IASB issues guidance on materiality judgments

Other Developments

  • COSO releases updated ERM framework

CAQ

  • CAQ posts highlights of Ninth Annual CAQ Symposium breakout discussions
  • CAQ issues new ‘Profession in Focus’ video
  • Third annual #AuditorProud social media blitz celebrates the profession

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