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Q1 2023 Quarterly Outlook

Issues & Trends | March 2023

Our quarterly update on accounting and financial reporting developments, including SEC matters and FASB activity.

KPMG reports on major accounting and financial reporting developments that could affect companies in the current period or near term. This quarter we feature tax developments impacting accounting and financial reporting, the latest on ESG reporting, and other recent SEC and FASB headlines.


  • All companies

Key impacts

For Q1 2023:

  • Certain multinational companies are subject to a new global minimum tax on income in each jurisdiction where they operate.
  • The SEC’s new compensation clawback rules are gaining attention as companies plan for implementation. 
  • Climate risk continues to dominate current ESG headlines, with a focus on next steps from the SEC, ISSB and EU. 
  • Public companies must adopt various new accounting standards aimed to clarify or simplify accounting guidance, and private entities will first apply the new credit losses standard (ASC 326). 
  • Companies should continue to monitor for macroeconomic trends and events and consider their potential impacts on financial reporting and disclosure.

Report contents

  • Current quarter financial reporting matters
  • New standards and guidance
  • Projects and agenda priorities
  • Recommended reading and CPE opportunities

Download the document:

Quarterly Outlook March 2023

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Meet our team

Image of Angie Storm
Angie Storm
Deputy Chief Accountant, Dept. of Professional Practice, KPMG US
Image of Robin Van Voorhies
Robin Van Voorhies
Senior Director, Dept. of Professional Practice, KPMG US

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