- President Donald Trump signed an executive order requiring any executive agency seeking to issue a new rule to target two existing rules for elimination. The order’s effect on the SEC remains unclear.
- The SEC approved the fees the FASB uses from public companies to support its operations. The Sarbanes-Oxley Act of 2002 established the accounting support fee for the PCAOB and FASB to keep the standard-setters independent of the firms and companies that follow their rules and standards.
- The House of Representatives voted to nullify an SEC rule requiring publicly listed oil, gas, and mining companies to disclose payments made to the U.S. and foreign governments. The action, which takes advantage of the Congressional Review Act, is part of a broader push by a GOP-controlled Congress and White House to roll back Obama-era regulation.
- An auditor plays an important role for an organization and its stakeholders. We are pleased to share information about our focus on delivering high quality audit engagements and the policies our professionals adhere to in performing their work.
- The FASB amended its consolidated reporting requirements for not-for-profit organizations that are general partners and hold interests in for-profit limited partnerships or similar entities. The update allows organizations in these situations to continue following the guidance they largely follow today.