- The SEC and New York University will hold a forum to discuss the effects of high-frequency stock trading on financial markets. The event is planned as the fifth in a series hosted by the SEC’s Division of Economic Risk Analysis in partnership with NYU’s Salomon Center for the Study of Financial Institutions.
- The Council of Institutional Investors (CII) and the CFA Institute asked the PCAOB to ensure the accuracy of interactive data tags that public companies must embed directly into their financial statements using a process called the inline eXtensible Business Reporting Language (XBRL). The SEC rule did not impose an audit requirement of the interactive data tags, but the investor groups say having a level of assurance would increase confidence in the quality of financial information.
- View our on-demand webinar to watch a demonstration of a loss rate analysis estimation method for the current expected credit loss (CECL) standard.
- The FASB published updates to the information businesses must disclose about the estimates and assumptions used to determine the fair values of assets and liabilities. The board simultaneously issued an update to improve disclosure requirements for pensions and postretirement benefits.
- The FASB’s latest effort to update its Conceptual Framework is focusing on the so-called “building blocks” of financial statements — the definitions of assets and liabilities. These questions have confounded the FASB for years, and the board still needs more work to decide how to improve the framework’s definition of a liability.