Our top takeaways from the 2022 AICPA & CIMA Conference

The SEC’s primary focus is investors and it expects decision-useful information to be given to investors.

We listened to regulators, standard-setters and practitioners. These are the headline messages we heard. 

“The SEC’s primary focus is investors and it expects registrants to focus on providing decision-useful information to investors. This message from SEC officials was pervasive across all three days of the Conference, and serves as a guiding principle for registrants in considering their year-end filings.”

— Timothy Brown, KPMG Partner

Quality amidst economic uncertainty

Don’t expect this filing season to be ‘business as usual’. Registrants may need additional resources to consider and address complex judgments and estimates created by the current economic environment. Have you planned for the incremental effort involved?

Transparency through disclosure

Disclosures should be company-specific and transparent. Registrants and their disclosure committees should take a fresh look and consider disaggregation. Do your disclosures reflect today’s environment without simply relying on past views or boilerplate language?

The reporting landscape is changing

Technology is rapidly changing the financial reporting and auditing functions, and cybersecurity is creating significant risk. Is your governance and oversight sufficient, and are investors adequately informed about the risks?

Emerging areas remain in the spotlight

ESG, crypto, digitalization… Wait and see is not a sound strategy. But whatever your status or stage of adoption, does your accounting reflect the economics and/or do your disclosures adequately inform investors?

Talent was a pervasive theme

We are united in a desire to grow the accounting profession – to maintain and enhance quality. We are committed to attracting, nourishing and retaining diverse talent. And seeing our professionals grow and mature to become our future leaders. We invite you to join the conversation and contribute to our growth as a purpose-driven organization.