September 2019 Quarterly Outlook

KPMG reports on major accounting and financial reporting developments that could affect companies in the current period and near term. This quarter’s publication addresses SEC activity including a recent focus on LIBOR reform and auditor independence matters; and FASB developments, including those related to leases and credit losses. 

Applicability

• All companies

Key impacts

For Q3 2019:

• The FASB is taking steps to defer the effective dates of its major accounting standards on credit losses, leases, hedge accounting and insurance contracts. 
• Regulators, standard-setters and stakeholders are focused on LIBOR reference rate reform.
• The SEC and others have taken a renewed interest in auditor independence matters. 

Report contents

• Current quarter financial reporting matters
• New standards and guidance
• Projects and agenda priorities
• Recommended reading and CPE opportunities 

Related content

• KPMG’s resource page: SEC matters
  
• KPMG's resource page: Revenue
• KPMG’s resource page: Leases
• KPMG’s resource page: Financial instruments