During the third quarter of the 2024 calendar year, the Financial Accounting Standards Board (FASB) proposed three new Accounting Standards Updates on the following topics:
- Clarification to share-based consideration payments to a customer
- Hedge accounting improvements
- Derivative scope refinements
The FASB also issued a statement of financial accounting concept on measurement.
The Securities and Exchange Commission (SEC):
- Issued statements on safeguarding crypto assets, AI washing, the FASB’s updated conceptual framework, disclosure review and priorities, and cybersecurity incident disclosures
- Approved several Public Company Accounting Oversight Board (PCAOB) standards and amendments and a PCAOB rule
- Adopted final amendments to Forms N-PORT and N-CEN reporting requirements
- Adopted final rules related to the venture capital funds threshold and registered index-linked annuities
- Published updated to asset-backed securities guidance
- Requested public comments on proposed data standards
- Published updates to the SEC regulatory agenda
This report also covers updates from the PCAOB, the Center for Audit Quality, and the Governmental Accounting Standards Board.
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