Specifically, the Division added nine C&DIs addressing inline XBRL.

For more in­for­ma­tion, see the C&DIs on the SEC’s Web site.

Mr. Morrow joined the FASAC in January 2019. He will replace Andrew G. McMaster Jr. as chairman, who is stepping down at the end of the year.

For ad­di­tional in­for­ma­tion, see the press release on the FAF's Web site.

The three-year terms of both the new and reappointed PCC members will begin on January 1, 2020. For more in­for­ma­tion, see the press release on the FAF’s Web site.

The working drafts address the following topics:

• Advances of taxes and insurance.
• Factors related to zero expected credit losses for financial assets secured by collateral.
• Scope exception for loans and receivables between entities under common control.

Com­ments on the working draft are due by October 15, 2019. For more in­for­ma­tion, see the CECL issues page on the AICPA’s Web site.

Changes to the BAAS include re­vi­sions made to reflect guidance in the FASB’s standards on hedging and credit losses.

For more in­for­ma­tion, see the BAAS update on the OCC’s Web site.

The guide’s purpose is to help state and local governmental entities better understand the requirements in GASB Statement No. 87, Leases.

For more in­for­ma­tion, see the press release and im­ple­men­ta­tion guide on the GASB’s Web site.

On the basis of input from the Private Company Council and Small Business Advisory Committee, the FASB has outlined a new philosophy under which it plans to extend and simplify effective dates for private companies, smaller public companies, NFPs, and employee benefit plans. In its press release on the proposal, the Board explains this philosophy as follows:

Under this philosophy, a major standard would first be effective for larger public companies. For all other entities, the Board would consider requiring an effective date staggered at least two years later. Generally, it is expected that early application would continue to be permitted for all entities.

The table below, which is adapted from the proposed ASU, indicates how the effective dates of the hedging, leasing, and CECL standards would be amended for affected entities (in this table, a calendar year-end is assumed).

Comments on the proposed ASU are due by September 16, 2019. For more information, see Deloitte's related Heads Up newsletter as well as the proposal and FASB in Focus newsletter on the FASB’s Web site.

The proposed rule would “modernize the description of business, legal proceedings, and risk factor disclosures that registrants are required to make pursuant to Regulation S-K.”

For more information, see the press release and the proposed rule on the SEC’s Web site.

The final rule codifies “an existing exemption [to Exchange Act Rule 17g-5(a)(3)] for credit rating agencies registered with the Commission as nationally recognized statistical rating organizations (NRSROs).” The exemption applies to “certain structured finance products issued by non-U.S. persons and offered and sold outside the United States.”

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

The final rule makes technical corrections related to:

• Certain registration statement forms under the Securities Act of 1933.
• The exhibit table in Regulation S-K, Item 601(a).
• Typographical errors and cross-references in the regulatory text of the amendments.

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