Message from John Epperson, Managing Principal, Financial Services
Dear FIEB readers,
Financial reporting, governance, and risk management topics never seem to take a summer vacation, though we hope our readers find some time this summer to recharge. Our aim is to keep you informed of the top-of-mind topics from standard-setters, regulators, and other stakeholders.
To that end, this month we report on, among other items, an annual risk review, quarterly reports, and guidance on certain deposit insurance rules and stablecoins from various financial institution regulators. The Financial Accounting Standards Board moved closer to finalizing guidance on investments in tax credits but also deprioritized its project on accounting for goodwill. The Securities and Exchange Commission (SEC) remained active, including offering messages on independence, financial reporting, market structure, and enforcement. In addition, the SEC proposed new environmental, social, and governance rules related to investment advisers and fund names and reopened the comment period on certain Dodd-Frank Act-mandated rules. The SEC also continued its focus on interaction with financial statement users, holding an Investor Advisory Committee meeting. The Public Company Accounting Oversight Board re-engaged with its advisory groups, including its Investor Advisory Group and its Standards and Emerging Issues Advisory Group.
As we finish the second calendar quarter, we wish you and yours a wonderful summer. Embrace the warm weather and the information included.