- Discussion and presentations at the Mortgage Bankers Association’s (MBA) National Mortgage Servicing Conference & Expo 2017 were heavily centered on regulation: existing, in process, and future. Part of that discussion was whether the regulators and rules would disappear with the Trump Administration's deregulation push.
- The IASB plans to assess the feedback from an external review of its planned insurance standard, IFRS 17, Insurance Contracts, at its next meeting. The discussion is expected to be the board’s final substantive session about the project before the final standard is released.
- FASB released new guidance simplifying the process for goodwill impairment testing for public companies and NFPs (when applicable).
- The FASB’s September 2016 proposal to simplify some areas of hedge accounting called for an easing of the documentation requirements for justifying hedge accounting, but private companies told the board that they needed more of a break than was offered in the proposal. The accounting board agreed to scale back some requirements, but plans to write a final amendment to U.S. GAAP that requires them to provide some documentation to support their hedge accounting decisions.
- The FASB plans at its next weekly meeting to review the comment letters submitted in response to a proposal it issued in November 2016 to make it easier for companies to make minor changes to stock compensation awards. The board is also planning to discuss not-for-profit groups and how they should record donations and grants that have conditions attached to them.