- Our panel of professionals in compliance, law, and manufacturing discuss the “conflict minerals” requirements of Section 1502 of the Dodd-Frank Act, and practical approaches to compliance.
- Currently, there is no guidance in US GAAP about management’s responsibilities for evaluating or disclosing going concern uncertainties. There is also no guidance in US GAAP about when and how going concern uncertainties should be disclosed in an entity’s financial statement footnotes.
- Proposed amendments to certain PCAOB auditing standards regarding significant unusual transactions and other proposed amendments to PCAOB auditing standards. On May 7, 2013 the Public Company Accounting Oversight Board (PCAOB) reproposed the Proposed Auditing Standard – Related Parties; Proposed Amendments to Certain PCAOB Auditing Standards Regarding Significant Unusual Transactions; and Other Proposed Amendments to PCAOB Auditing Standards.
- There were several items of interest that came from the Statutory Accounting Principles Working Group at the summer meeting of the National Association of Insurance Commissioners (NAIC). These include SSAP No. 35R - guaranty fund and other assessments, Issue paper No. 146 - share-based payments with non-employees, and the new SSAP regarding working capital finance investments.
- The Financial Accounting Standards Board (FASB) recently issued Proposed Accounting Standards Update - Insurance Contracts (Topic 834) (the update) to improve current US generally accepted accounting principles (GAAP) and to move toward an international standard.
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