July 6, 2018

Public Policy and Technical Alert, June 2018

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:

SEC

  • SEC announces series of investor roundtable discussions
  • SEC approves final and proposed rules
  • SEC seeks comments on FY 2018-2022 draft strategic plan

FASB

  • FASB issues new, proposed ASUs

International

  • IASB consults on accounting for financial instruments with characteristics of equity
  • FRC’s Financial Reporting Lab publishes a report on blockchain and another report on investor perspectives on reporting performance metrics
  • IFRS Foundation consults on narrow-scope changes to its Constitution

Other Developments

  • AICPA solicits proposals for assurance-related research

CAQ

  • CAQ comments on IOSCO consultation on good practices for audit committees in supporting audit quality
  • IPTF issues discussion document on monitoring inflation in certain countries
  • CAQ announces grants to fund academic research in auditing

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