During the third quarter of the 2025 calendar year, the Financial Accounting Standards Board (FASB) issued three final standards: one on measurement of credit losses for accounts receivable and contract assets, one on internal-use software accounting improvements, and one on derivative scope refinements. The FASB also issued one proposal on initial measurement of paid-in-kind dividends, announced the addition of a digital assets project to its research agenda, and held a roundtable on implementation of the leases standard.
Additionally, the Securities and Exchange Commission (SEC) announced changes in leadership, released its updated regulatory agenda, and endorsed the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). The SEC also held multiple crypto task force roundtables, issued statements on the President’s Working Group and tokenized securities, updated its Financial Reporting Manual, and published new and updated Compliance and Disclosure Interpretations.
We also cover Q3 updates from the Public Company Accounting Oversight Board, the Center for Audit Quality, and the Governmental Accounting Standards Board.
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