SEC Chair Gary Gensler urged the Public Company Accounting Oversight Board to update its auditor independence standards and stated that the SEC "may need to take a fresh look at the SEC’s auditor independence rules as well."

SEC Commissioners Hester M. Peirce and Mark T. Uyeda criticized the Financial Accounting Foundation ("FAF") for introducing in its draft strategic plan the goal of contributing to the development of future sustainability standards.

Comments on an FDIC proposal to update the accounting standards in the risk-based deposit insurance assessment system applicable to certain insured depository institutions are due by August 26th.

The FDIC proposed updating the accounting standards in the risk-based deposit insurance assessment system applicable to insured depository institutions with over $10 billion in assets.