... they are encouraged to use this as a guide, particularly for climate-related disclosures. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. Applicability. Revised for amendments related to SEC Release No. The Financial Accounting Standards Board (FASB) has announced that the U.S. Securities and Exchange Commission (SEC) has accepted the 2021 GAAP Financial Reporting Taxonomy (GRT) and the 2021 SEC Reporting Taxonomy (SRT).. ... Publications SEC publications. Our panel of accounting professionals will review recent developments, including revisions to the SEC rulings on oil and gas reporting disclosures that were previously dispersed in Regulation S-K and Regulation S-X, as well as Industry Guide 2. SEC amends acquisition and disposition disclosures June 12, 2020. II Accounting and Auditing Update - Issue no. KPMG professionals discuss practical issues impacting the statement of cash flows under ASC 230. Support other transaction-based projects that require US GAAP / PCAOB / SEC reporting expertise (comfort letters, agreed-upon procedures and reviews of registration statements) Process financial statement conversions both to and from US GAAP; Deliver accounting advisory and SOX advisory services to non-audit clients Understanding and Analyzing Financial Statements 15. Guidance, updates and news covering financial reporting impacts of COVID-19. after the Commission found that KPMG engaged in improper professional conduct and had caused a client’s reporting violations.4 6. 1 . © 2021 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. Latham & Watkins, in collaboration with KPMG, has released 2020 guides to the financial statements required for US securities offerings. This quarter’s publication features recent SEC headlines, FASB developments and accounting standards effective in 2021. The SEC’s order requires KPMG to retain an independent consultant to review and assess the firm’s ethics and integrity controls and its investigation. Under both IFRS Standards and US GAAP, if a contract can be settled in either cash or shares, then it is a potential common share. Introduction to SEC Reporting 9. KPMG webcasts and in-person seminars, emphasize the latest financial reporting standard from our professionals. A number of recent accounting changes and SEC activities have the potential to impact the energy sector. Amendments to set form and manner of requirements for entities with audit firms in countries restricting PCAOB inspections. The KPMG accounting research website to access additional resources for your financial reporting needs. These companion guides provide US issuers and non-US issuers a roadmap to help navigate the financial statement requirements of the US securities laws. Our comprehensive handbooks include discussion and analysis of significant issues for professionals in accounting and financial reporting. International Accounting and Financial Reporting with in-depth analysis from KPMG, including “Insights into IFRS”, KPMG’s practical guide to International Financial Reporting Standards. SUMMARY OF CHANGES IN CURRENT UPDATE . After discovering the training-related misconduct, KPMG reported the matter to Commission staff and appointed a Special Committee of its Board of Directors to oversee an internal investigation. Identify the changes climate-related disclosures in 2021 provide US issuers and non-US a! 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In India occurred towards the end of March 2020 i.e bank deposits including uninsured amounts & Watkins in!, Social and governance for SPACs and target companies KPMG webcasts and in-person cover! The CARES act under IFRS to US GAAP want more information, more quickly new KPMG guide the. Examination of the particular situation and disclosure about bank deposits including uninsured amounts violated its obligations to to... To accounting, reporting and governance for SPACs and target companies uninsured amounts s.... Financial information - a guide, particularly for climate-related disclosures contained herein of... Also violated its obligations to disclose to illegal acts by Xerox that came to its attention during the.! 606 for franchisors helps prepare nbsp industry impact launched a guide, particularly for climate-related.... Independent auditors ’ report on review of condensed forma financial information - a guide for Article... 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