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Heads Up

Heads Up newsletters, published as warranted, analyse important accounting developments, such as new FASB and IASB pronouncements or exposure drafts. Concise examples and answers to frequently asked questions assist readers in understanding and implementing the critical guidance.

Related Publications

  • Heads Up — Two years after the JOBS Act

    Apr 15, 2014

    This Heads Up discusses the SEC’s continuing efforts to complete its rulemaking mandates under the Jumpstart Our Business Startups (JOBS) Act, focusing on guidance the SEC staff has issued in response to the JOBS Act since May 8, 2012. Topics covered include new interpretive guidance on emerging growth companies, access to capital in private offerings, crowdfunding, and small-company capital formation.

  • Heads Up — Highlights of the SEC’s cybersecurity roundtable

    Apr 08, 2014

    This Heads Up discusses the SEC’s March 26, 2014, roundtable on cybersecurity and the related challenges for market participants. This publication highlights three key topics addressed at the roundtable: (1) the current cybersecurity landscape, (2) public-company disclosure issues, and (3) the role of the board of directors and senior leadership in assessing and responding to cybersecurity threats.

  • Heads Up — Navigating reporting requirements for Form SD and conflict minerals reports

    Mar 27, 2014

    This Heads Up explores the disclosures that a registrant with conflict minerals that are necessary to the functionality or production of its products is required to include in its Form SD to be filed with the SEC — and the accompanying Conflict Minerals Report — on the basis of possible scenarios that a registrant might encounter. It also includes an analysis of whether an independent private sector audit is required in each scenario. Appendixes to the Heads Up (1) provide a sample Form SD and a description of potential content for two of the scenarios and (2) summarize the requirements for each scenario. Registrants with necessary conflict minerals are required under the SEC rule on conflict minerals to report annually on Form SD for each calendar year commencing with 2013. The filing deadline for the initial filings of Form SD is May 31, 2014.

  • Heads Up — Highlights of the “SEC Speaks in 2014” Conference

    Mar 20, 2014

    This Heads Up discusses highlights of the “SEC Speaks in 2014” Conference that was recently hosted by the Practising Law Institute. At the conference, SEC commissioners and staff members gave speeches on numerous topics of interest to the legal and accounting professions, including financial reporting developments. Topics addressed at the conference included (1) disclosure efficiency, (2) the SEC staff’s observations about registrants’ filings, (3) cybersecurity, and (4) audit committee considerations.

  • Heads Up — FASB offers simplified approaches to goodwill and hedge accounting

    Jan 27, 2014

    This Heads Up discusses FASB Accounting Standards Updates (ASUs) 2014-02 and 2014-03. The ASUs allow, respectively, eligible private companies to simplify their reporting under U.S. GAAP by using alternative approaches to account for (1) goodwill and (2) interest rate swaps. The Heads Up also discusses ASU 2013-12, which defines “public business entity” and establishes, in part, the scope of alternatives developed by the Private Company Council and endorsed by the FASB.

  • Heads Up — PCAOB reproposes requiring disclosure of engagement partner and certain audit participants

    Jan 06, 2014

    This Heads Up discusses the PCAOB’s recent reproposal to improve the transparency of audits by requiring disclosure in the auditor’s report of (1) the name of the engagement partner for the most recent period’s audit and (2) the names, locations, and extent of participation (as a percentage of the total audit hours) of other independent public accounting firms that took part in the audit, as well as the locations and extent of participation of other persons not employed by the auditor who performed procedures on the audit.

  • Heads Up — IIRC releases the International Integrated Reporting <IR> Framework

    Dec 23, 2013

    This Heads Up provides an overview of the International Integrated Reporting <IR> Framework (the "<IR> Framework"), which was recently released by the International Integrated Reporting Council (IIRC). The <IR> Framework reflects the IIRC’s view that corporate reporting must evolve to communicate the full range of factors that affect an organization’s ability to create value over time.

  • Heads Up — Highlights of the 2013 AICPA conference on current SEC and PCAOB developments

    Dec 16, 2013

    Annually, the United States' AICPA hosts a three-day conference featuring speeches by, and panel discussions and question-and-answer sessions with, members of the SEC, PCAOB, FASB, IASB, and other professional groups. This Heads Up extracts key insights from material presented during this year’s AICPA national conference on current SEC and PCAOB developments.