Q3 2023 Quarterly Outlook

Issues & Trends | September 2023

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

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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.

Applicability

  • 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

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Quarterly Outlook September 2023

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Meet our team

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

Access our accounting research website for additional resources for your financial reporting needs.

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