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This Accounting Spotlight discusses accounting and financial reporting considerations related to assessing the practical effects of tariffs on an entity. Although tariffs are not new to the global economic landscape, their prominence and impact have grown significantly in recent months as a result of rapid increases in tariff rates and shifting trade patterns.

The European Financial Reporting Advisory Group (EFRAG) has published proposed revisions to its December 2023 European Sustainability Reporting Standards (ESRSs). While the fundamental architecture of the ESRSs would be retained, the standards would be significantly simplified in an effort to make them more readable, concise, and accessible.

The staff in the SEC’s Division of Corporation Finance (the “Division”) has released a statement on “liquid staking,” which can be defined as a type of protocol staking in which owners of covered crypto assets deposit such assets with a third-party provider of protocol staking services and receive newly created crypto assets in return to demonstrate that the deposited assets, as well as any reward

The staff in the SEC’s Division of Trading and Markets has released responses to FAQs “that broker-dealers have posed to the staff regarding rule amendments to the customer protection rule related to the clearing of U.S. Treasury securities.”