Message from John Epperson, Managing Principal, Financial Services
Dear FIEB readers,
Are you ready for some … conferences? September traditionally kicks off football, all things pumpkin spice, and financial reporting conference season. This month, we provide key takeaways from both the 2022 American Institute of Certified Public Accountants Conference on Banks and Savings Institutions and the “SEC Speaks in 2022” program of the Practising Law Institute. Our discussion summarizes how stakeholder presentations reflect on the current state of financial reporting, governance, and risk management and are a noteworthy read for financial institutions and public companies alike.
In addition, federal financial institution regulators and staff from the Financial Accounting Standards Board (FASB), Securities and Exchange Commission (SEC), and Public Company Accounting Oversight Board (PCAOB) continue their work on numerous issues, and we keep you up to date. Items of interest include the second quarter 2022 quarterly banking profile from the Federal Deposit Insurance Corp. (FDIC), updates to the Office of the Comptroller of the Currency’s Bank Accounting Advisory Series, an exposure draft from the FASB on expanding the proportional amortization method to additional types of tax credit investments, SEC final rules on pay-versus-performance disclosures, and a new audit committee resource from the PCAOB. Finally, the Center for Audit Quality released a new study of S&P 500 climate-related disclosures.
We hope the onset of autumn finds you well.