Standard-setters viewpoints

Explore selected publications from standards-setters on a variety of topics related to financial reporting and assurance.

Related Publications

ThinkTWENTY20 Winter Issue

Dec 19, 2020

Working at home, virtual meetings and, increasingly, virtual conferences have become the norm. This has meant that companies have had to find new ways of communicating and holding virtual events. The phenomenon of Zoom and its ascent to becoming one of the most favoured of communications vehicles is well known. But we felt that there are many other vehicles gaining more prominence, including social media and numerous other brands of communications software. So, we made an attempt to explore this area in this issue. We got some interesting insight from several sources. Also, we looked into the use of social media for communicating with corporate stakeholders and found that it’s gaining usage as well.

2020 AICPA Meeting: SEC and PCAOB Developments

Dec 18, 2020

Each year, key stakeholders gather in Washington, D.C., for the AICPA Conference on Current SEC and PCAOB Developments to discuss issues and trends affecting accounting, financial reporting, auditing, and other related matters. Although the event was fully virtual this year in light of the COVID-19 pandemic, it was no less informative. While the pandemic’s effects were a theme at this year’s conference, much of the conversation stayed grounded in topics that are typically top-of-mind to stakeholders: (1) implementation and application of complex accounting standards; (2) the potential impact of reference rate reform; (3) SEC reporting matters and rulemaking; (4) audit-related topics, including audit quality, auditor independence, and critical audit matters (CAMs); and (5) environmental, social, and governance (ESG) practices and disclosures.

ThinkTWENTY20 Magazine Fall 2020

Sep 30, 2020

This is the latest issue of ThinkTWENTY20 Magazine. It contains thought provoking material that is consistent with the mission of delving deeply into issues of importance to the accounting profession.

Business Roundtable: Market-based solutions best approach to combat climate change

Sep 16, 2020

Business Roundtable released new principles and policies to address climate change, including the use of a market-based strategy that includes a price on carbon where feasible and effective. Such a strategy would incentivize the development and deployment of breakthrough technologies needed to reduce greenhouse gas (GHG) emissions.

Accounting for and auditing of digital assets

Sep 01, 2020

The objective of this practice aid is to develop nonauthoritative guidance on how to account for and audit digital assets under U.S. generally accepted accounting principles (GAAP) for nongovernmental entities and generally accepted auditing standards (GAAS), respectively. This guidance is intended for financial statement preparers and auditors with a fundamental knowledge of blockchain technology. For the purposes of this practice aid, digital assets are defined broadly as digital records that are made using cryptography for verification and security purposes, on a distributed ledger (referred to as a blockchain). The distributed ledger keeps a record of all transactions on a blockchain network. Digital assets, as defined herein, may be characterized by their ability to be used for a variety of purposes, including as a medium of exchange, as a representation to provide or access goods or services, or as a financing vehicle, such as a security, among other uses.

Correction list for hyphenation

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Centre for Financial Reporting

Centre for Financial Reporting

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Centre for Financial Reporting

Standard-setters viewpoints

Related Publications

ThinkTWENTY20 Winter Issue

2020 AICPA Meeting: SEC and PCAOB Developments

ThinkTWENTY20 Magazine Fall 2020

Business Roundtable: Market-based solutions best approach to combat climate change

Accounting for and auditing of digital assets

Correction list for hyphenation