TheCorporateCounsel.net

Paul Munter, the SEC’s Acting Chief Accountant, released a statement yesterday on FASB’s Agenda Consultation. Back in June 2021, FASB published its Invitation to Comment, Agenda Consultation to solicit broad stakeholder feedback about the FASB’s standard-setting process and its future standard-setting agenda. The Acting Chief Accountant’s statement highlights the importance of consultation with investors and other stakeholders to the standard-setting process. The statement addresses a number of the key areas of feedback that the FASB received during its consultation, which included disaggregation of financial reporting, climate-related transactions and disclosures, digital assets, intangible assets (including software costs and human capital costs), consolidation guidance, and hedging.

– Dave Lynn