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 illustration for profits interest awards
May 12, 2023
The FASB proposes four cases illustrating the scope application of ASC 718 for profits interest awards.
SEC adopts amendments to share repurchase disclosure rules
May 12, 2023
The rules expand quarterly, semi-annual and annual filing disclosures, depending on filer type
Simplified investor accounting for tax equity investments
March 29, 2023
Investors in certain tax equity investments may elect the proportional amortization method by tax credit program.
Simplified investor accounting for tax equity investments (PDF 333 KB)
Leases: Common control arrangements
March 27, 2023
ASU 2023-01 amends Topic 842 for common control lease arrangements and related leasehold improvements
Leases: Common control arrangements (PDF 495 KB)
Accounting for and disclosure of certain crypto assets
March 23, 2023
FASB proposes fair value measurement, separate presentation and disclosures for in-scope crypto assets
Accounting for and disclosure of certain crypto assets (PDF 245 KB)
FASB proposes improvements to income tax disclosures
March 16, 2023
Enhanced jurisdictional and other disaggregated disclosures for the effective tax rate reconciliation and income taxes paid.
Focus on investment management
February 22, 2023
Amendment to long-duration contracts improvements to exclude certain contracts or legal entities sold and derecognized.
Pay vs performance disclosures
February 17, 2023
SEC final rule targets disclosure of the relationship between executive compensation and company performance.
Pay vs performance disclosures (PDF)
Compensation clawback rules to create transparency
November 4, 2022
Final rules require issuers to establish a ‘recovery policy’ for erroneously awarded incentive-based compensation.
For more information, please contact:
Michael Maekawa | +1 213-955-8331 | tmaekawa@kpmg.com
The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.