If approved by the SEC, the new standard will significantly modify the auditor’s reporting model. While the new standard will retain the current “pass/fail” approach, it will also significantly increase the informational value of auditors’ reports.

For more information, see the related SEC release as well as Deloitte’s June 1, 2017, article and June 20, 2017, Heads Up on the standard.

Specifically, the following Q&As have been added to TIS Section 9160:

• .31, “Following Accounting Standards as Promulgated by FASB by a State or Local Governmental Entity.”
• .32, “Reporting on Accounting Standards as Promulgated by FASB by a State or Local Government.”
• .33, “Engagement Acceptance When a State or Local Government Elects to Follow a Special Purpose Framework.”
• .34, “Accounting Standards as Promulgated by FASB as a Special Purpose Framework.”
• .35, “Reporting on Indian Tribe Financial Statements Prepared in Accordance With Accounting Standards as Promulgated by FASB.”

For more information, see the recently issued technical questions and answers page on the AICPA’s Web site.

The implementation guide con­sist­s of Q&As that would “clarify, explain, or elab­o­rate on the requirements of Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions, as amended, and Statement No. 74, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans, as amended.”

Com­ments on the pro­posed im­ple­men­ta­tion guide are due by September 25, 2017. For more in­for­ma­tion, see the pro­posed guide on the GASB’s Web site.

For a de­tailed summary of the meeting, see De­loitte’s July 2017 EITF Snap­shot.

Ms. Peirce is currently a senior research fellow and director of the financial markets working group at the Mercatus Center at George Mason University. President Barack Obama nominated Ms. Peirce for the position last year; however, the Senate did not have a hearing on her nomination.

For more in­for­ma­tion, see the press release on the White House’s Web site.

Topics covered in the FAQs include the following:

• Compliance dates and general filing obligations.
• Form N-Port.
• Regulation S-X.
• Form N-CEN.

For more in­for­ma­tion, see the FAQs and final rule on the SEC’s Web site.

The Board made tentative decisions related to:

• The proposed Concepts Statement’s scope.
• Potential negative consequences of disclosures.
• Disclosures about line-item changes that are not easily understood.
• Disclosures about alternative measures that are useful to the assessment of prospects for future cash flows.

For more in­for­ma­tion, see the meeting minutes on the FASB’s Web site.

The release updates volume I and II of EDGAR as well as various tech­ni­cal spec­i­fi­ca­tions.

For more in­for­ma­tion, see the an­nounce­ment on the SEC’s Web site.

This pro­posed rule would “designate certain securities on Investors Exchange LLC . . . as covered securities for purposes of Section 18(b) of the Securities Act” and would exempt those securities from state law registration requirements.

Com­ments on the pro­posal are due by August 21, 2017. For more in­for­ma­tion, see the pro­posed rule on the SEC’s Web site.

Com­ments on the ED are due by September 15, 2017. For more in­for­ma­tion, see the ED on the GASB’s Web site.