During the first quarter of the 2023 calendar year, the Financial Accounting Standards Board:
- Issued two new Accounting Standards Updates addressing related-party lease accounting and the proportional amortization method for investments in tax credit structures
- Issued two new proposals: one on improvements to income tax disclosures and one on accounting for crypto assets at fair value
The Securities and Exchange Commission:
- Remarked on capital formation; accounting standard-setting; environmental, social, and governance investing; digital assets; and the small-business safe harbor
- Held meetings of the Investor Advisory Committee and the Small Business Capital Formation Advisory Committee
- Issued guidance for small-entity compliance on insider trading, new compensation rules, and non-GAAP financial measures
- Adopted amendments to the Form 144 filing deadline and changes to the securities settlement cycle
- Released updates to the Financial Reporting Manual
- Proposed requirements to address cybersecurity risks, an enhanced safeguarding rule for registered investment advisers, and a conflict of interest securitization rule
- Reopened the comment period for cybersecurity risk management rules for investment advisers and funds
- Released its fall 2022 regulatory agenda
- Announced its 2023 risk-based examination priorities
- Named a new chief accountant, director of corporation finance, and deputy director of disclosure operations
This report also covers updates from the Public Company Accounting Oversight Board, the Center for Audit Quality, and the Governmental Accounting Standards Board.
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