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Q3 2023 Quarterly Outlook

Issues & Trends | September 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 a new SEC rule on cybersecurity disclosure, the latest on ESG reporting, PCAOB developments of interest to audit committees and other recent SEC and FASB headlines.


  • All companies

Key impacts

For Q3 2023:

  • Stakeholders are digesting transformative new SEC rules on cybersecurity, effective on September 5, 2023 (with compliance dates that follow).
  • US-based companies are working to understand the impact of various new international standards on ESG.
  • The FASB issued a proposal targeting public companies on disaggregation of income statement expenses in the notes to the financial statements.
  •  The PCAOB issued a historical proposal that would heighten auditors’ responsibilities for, and communication about, noncompliance with laws and regulations.

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 September 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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