Regulatory and standard-setting developments -- March 14, 2014

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Regulatory and standard-setting developments 03/14/2014 by Assurance services
Regulatory and standard-setting developments -- March 14, 2014

At a glance

This document provides a summary of activities of the PCAOB, SEC, and FASB, and related international developments that are of interest to audit committees and companies.

This document provides a summary of the activities of the PCAOB, SEC, and FASB, and describes related international developments that are of interest to audit committees, companies, and their stakeholders. It includes some of the relevant regulations, standards, and guidance that were recently issued or are on the horizon.

Developments since our December 2013 edition include:

PCAOB SEC FASB International

Commentary received on the proposed standard on auditor transparency

Commentary received and PCAOB Open Meeting announcement for the Proposed standard on Auditor Reporting Model


 

Audit work papers of US accounting firm affiliates in China

Recent cybersecurity activity

Andrew Ceresney named director of division of Enforcement

Michael F. Maloney named chief accountant of the division of Enforcement

Update on the status of FASB/IASB priority convergence projects (Revenue, Insurance Contracts, Financial Instruments, Leases)

Update on the Private Company Council standard setting initiatives
 

Update on EU Audit Reform focusing on mandatory firm rotation