2020 AICPA Conference on Current SEC & PCAOB Developments

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 

Related content

Resource page: COVID-19 Financial reporting implications

Hot Topic: New SEC disclosure guidance about effects of COVID-19

Hot Topic: SEC stresses need for high-quality, timely information