Issues & Trends   |   December 2016
 

2016 AICPA National Conference on Current SEC and PCAOB Developments

KPMG reports on the 2016 AICPA National Conference. Speakers from regulators, standard setters and others discussed recent developments in accounting, auditing and financial reporting – and KPMG observations.

Applicability

  • All companies

Relevant dates

  • Effective immediately

Key impacts

  • The importance of internal control over financial reporting and the respective roles of preparers, auditors and audit committees in developing and maintaining high-quality, reliable financial reporting
  • The continued focus by regulators on registrants’ use of non-GAAP financial measures
  • The critical importance of preparedness for and financial disclosures about the potential effects of adopting the new revenue recognition, leases, and credit losses standards
  • The critical importance of preparedness for and financial disclosures about the potential effects of adopting the new revenueleases and credit losses standards
  • Areas of focus from the Office of the Chief Accountant and the Division of Corporate Finance. Includes accounting for and disclosure of revenue, transition disclosures, segments, financial instruments, pension accounting, business combinations and income taxes, and considerations related to non-GAAP measures and management’s discussion and analysis

Report Contents

  • High quality financial reporting
  • Division of Corporate Finance focus areas
  • Current accounting practice issues
  • Standard setting
  • Enforcement and other initiatives
  • Cybersecurity panel
  • Data and analytics panel
  • Sustainability panel

 

 

Subscribe to our newsletter

Receive timely updates on accounting and financial reporting topics from KPMG.



ARO

Visit KPMG's Accounting Research Online for financial reporting resources.