Message from John Epperson, Managing Principal, Financial ServicesDear FIEB readers,
The holiday season typically brings good cheer and gift-giving traditions. It just so happens that our December Financial Institutions Executive Briefing is the gift that keeps on giving as readers will delight in the wealth of information to consider for year-end financial reporting. The annual American Institute of Certified Public Accountants and Chartered Institute of Management Accountants Conference on SEC and PCAOB Developments occurred just last week, and we provide a summary of key themes and perspectives from throughout the financial reporting ecosystem. We had a number of releases of interest this month from the federal financial institution regulators, including quarterly banking and credit union highlights and the OCC’s fall semiannual risk perspective. The Financial Accounting Standards Board remains relatively quiet. In contrast, the Security and Exchange Commission’s rulemaking continues at a fast pace and, while all stakeholders continue to wait for any final climate disclosure rules, Commissioner Hester Peirce offered fresh thoughts on environmental, social, and governance issues. The Public Company Accounting Oversight Board proposed its long-awaited quality control standards proposal, and the Center for Audit Quality issued its annual audit committee transparency barometer.
As we all prepare for a busy year-end financial reporting season, I wish you and yours a very happy and healthy new year.