January 6, 2016

Now Available: Updated D&O Questionnaire

I’ve blogged before about whether you should update your D&O questionnaire for the PCAOB’s new AS #18 – and we have a webcast next week that will address this topic (& much more regarding audit committees). But the good news is that Dave Lynn and his Morrison & Foerster colleagues have provided this updated model annotated D&O questionnaire. Check it out, along with my “D&O Questionnaire Handbook” that was just updated – and the other resources in our “D&O Questionnaire” Practice Area

Political Contributions: “Forcing the SEC to Adopt Rules” Case Dismissed

Here’s an excerpt from this blog by Steve Quinlivan:

The United States District Court for the District of Columbia has dismissed a two-count complaint asking the Court to mandate the SEC be required to adopt rules regarding disclosure of political contributions. The plaintiff had submitted a request for rulemaking to the SEC, and the SEC never took action on the request.

FASB Issues “Financial Instruments Recognition & Measurement” Standard

Here’s an excerpt from this blog by “Accounting Today”:

The Financial Accounting Standards Board issued Tuesday a long-awaited accounting standards update (2016-01) for the recognition and measurement of financial instruments that it has been developing for over a decade with the International Accounting Standards Board.

The standard affects public and private companies, not-for-profit organizations, and employee benefit plans that hold financial assets or owe financial liabilities. FASB also plans to issue this year a separate standard on the impairment of financial instruments that will differ markedly from the IASB’s. The IASB issued its own financial instruments standard, IFRS 9, in 2014. The “recognition and measurement” standard was formerly referred to as “classification and measurement” but was changed to better reflect what FASB was trying to address.

Broc Romanek