2016 AICPA national conference; SEC and PCAOB | KPMG | GLOBAL

KPMG report: 2016 AICPA national conference; SEC and PCAOB developments

2016 AICPA national conference; SEC and PCAOB

Presenters at the 2016 AICPA conference, December 5-, included speakers from the SEC, PCAOB, FASB, IASB, Center for Audit Quality, and AICPA as well as preparers, auditors, and others who discussed recent developments and initiatives in accounting, auditing, and financial reporting.

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Among the topics discussed:

  • The importance of internal control over financial reporting, and the roles of preparers, auditors, and audit committees in developing and maintaining high-quality, reliable financial reporting
  • The continued focus by regulators on registrants’ use of non-GAAP financial measures
  • The critical importance of preparedness for and financial disclosures about the potential effects of adopting the new revenue recognition, leases, and credit losses standards
  • Areas of focus from the Office of the Chief Accountant and the Division of Corporation Finance, including accounting for and disclosure of revenue, transition disclosures, segments, financial instruments, pension accounting, business combinations and income taxes, and considerations related to non-GAAP measures and management’s discussion and analysis

 

Read a December 2016 report [PDF 453 KB] prepared by KPMG LLP: Issues & Trends: 2016 AICPA National Conference on Current SEC and PCAOB Developments

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