AICPA - Review of SEC and PCAOB developments 

December 20:  Participants at the 2013 AICPA National Conference (December 2013) addressed recent developments at the SEC, PCAOB, FASB, and IASB as well as other accounting, financial reporting, and audit topics.

Highlights from the conference include:

  • SEC Division of Corporation Finance staff encouraged preparers to simplify and focus disclosures in regulatory filings.
  • SEC and FASB representatives discussed the need to reduce complexity in accounting standards.
  • SEC Office of the Chief Accountant staff emphasized the need for management to increase its focus on internal control over financial reporting.
  • PCAOB representatives spoke about new and proposed auditing standards, including changes to the auditor’s reporting model.
  • SEC staff provided updates on Dodd-Frank and JOBS Act rulemakings.

Read a December 2013 report [PDF 632 KB] prepared by KPMG LLP: Issues In-Depth: 2013 AICPA National Conference on Current SEC and PCAOB Developments

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