During the third quarter of 2018, the Financial Accounting Standards Board (FASB) issued seven new standards, and it proposed guidance on lease accounting and financial instrument credit loss.
In addition to these highlights from the quarter, this article covers the Securities and Exchange Commission (SEC)’s new disclosure simplification rule; Public Company Accounting Oversight Board (PCAOB) updates to staff guidance on the auditor’s reporting model and releases a draft of its strategic plan; updates from the Governmental Accounting Standards Board (GASB), and the Center for Audit Quality (CAQ).
