IOSCO urged issuers of securities to make "timely and high quality" disclosures, that are entity-specific, about the impact of COVID-19 on an issuer's operating performance, financial position, liquidity, and future prospects.
SEC Chief Accountant Sagar Teotia identified several areas of accounting and financial reporting that will require "significant judgments and estimates" due to the evolving status of the COVID-19 pandemic.
An insurance and financial holding company settled SEC charges for failing to maintain (i) accurate books and records and (ii) a sufficient system of internal account controls in connection with its annuities products.
An American Institute of Certified Public Accountants' Working Group published a practice aid on how to account for and audit digital assets under U.S. generally accepted accounting principles and generally accepted auditing standards.
New York State Department of Financial Services Superintendent Linda A. Lacewell proposed regulation designed to streamline the disclosure processes of confidential supervisory information to legal counsel and independent auditors.
The Financial Accounting Standards Board requested comments on a proposed "Accounting Standards Update" aimed at easing potential accounting burdens on loan market participants presented by the LIBOR transition.
SIFMA and the Security Traders Association raised concerns about legislative proposals on capital formation and corporate governance currently under consideration by the U.S. Senate Committee on Banking, Housing and Urban Affairs.