Public Policy & Technical Alert | March 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:

PCAOB

• PCAOB Board Member Kaiser sworn in

SEC

• SEC accepts 2018 GAAP Financial Reporting Taxonomy

FASB

• FASB proposes improvements to accounting for costs of implementation activities performed in certain cloud computing arrangements

International

• IFIAR publishes annual inspection findings survey
• ACCA reports on benefits of KAMs
• IASB proposes amendments to IAS 8
• IASB completes revisions to its Conceptual Framework
• IFRS Foundation publishes IFRS Taxonomy 2018
• European Commission launches fitness check on public reporting by companies
• European Union adopts amendments to IFRS 9
• IFAC appoints new CEO

Other Developments

• AICPA issues auditing interpretation on dual reporting
• AICPA appoints Robert Dohrer as Chief Auditor

CAQ

• New roadmap can help audit committees enhance oversight of non-GAAP measures
• CAQ posts highlights of November 2017 IPTF meeting
• CAQ releases framework for compiling inflation data

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