In this section, we provide brief updates from the previous quarter on regulatory developments in auditing and accounting that may impact Japanese companies in the United States. Further discussion of the issues can be found in KPMG's Department of Professional Practice's Defining Issues.

FASB proposes amendments to interim disclosure requirements

November 3, 2021

FASB proposes to clarify disclosure requirements for interim reporting to promote consistency across entities.

FASB proposes amendments to interim disclosure requirements  (PDF)

International Sustainability Standards Board announced

November 2021

ISSB to address growing demand for global ESG disclosure standards; SEC proposals expected early 2022.

International Sustainability Standards Board announced

FASB issues business combination amendments

October 29, 2021

The FASB provided an exception to fair value measurement for revenue contracts acquired in business combinations.

New ASU affects revenue recognized following business combinations (PDF)

Share-based payment private company practical expedient

October 26, 2021

New ASU provides a practical expedient to determine the fair value of private company share-based payment awards.

Practical expedient for valuing share-based payment awards (PDF)

 

For more information, please contact:

Michael Maekawa | +1 213-955-8331 | tmaekawa@kpmg.com