KPMG reports on conference highlights from the SEC, PCAOB, FASB and others. The effect of COVID-19 on financial reporting and auditing was a major theme throughout this year’s conference, among other important updates on key issues.
Applicability
- All public companies
Relevant dates
- Effective immediately
Key impacts
- Members of the SEC and PCAOB discussed the impacts of COVID-19 on companies and their auditors and provided important considerations and reminders.
- Staff from the SEC’s Office of the Chief Accountant described recent consultations in challenging accounting areas, including revenue, leases and consolidation.
- Staff from the SEC’s Division of Corporation Finance discussed considerations related to COVID-19 disclosures and non-GAAP measures, and highlighted rulemaking efforts that were finalized throughout the year.
Report contents
- How COVID-19 is affecting financial statements and their preparation
- Major accounting standards – The beat goes on
- Important developments on the auditing front
- What’s new from the SEC in 2020 and what you can expect in 2021
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