Chief Accountant, Dept. of Professional Practice, KPMG US
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.
All public companies
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.
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