Second Quarter — 2026
Welcome to Quarterly Accounting Roundup: Second Quarter — 2026.
Key accounting, financial reporting, auditing, and regulatory developments over the past
several months include:
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The FASB’s issuance of (1) final Accounting Standards Updates (ASUs) on (a) the accounting for environmental credit programs and (b) the measurement of paid-in-kind (PIK) dividends on equity-classified preferred stock and (2) proposed ASUs on (a) clarifying the discount rate used to measure the benefit obligation for certain market-return cash balance plans and (b) simplifying the hedge accounting guidance.
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The SEC’s release of proposed rules that would (1) give registrants the option of filing semiannual reports instead of quarterly reports and (2) overhaul the public-company reporting framework and reform registered offerings.
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The SEC’s proposed rescissions of (1) its March 2024 climate disclosure rule and (2) two National Market System (NMS) rules.
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The SEC’s recent statement on broker-dealer registration requirements related to crypto assets.
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The PCAOB’s launch of a new firm consultation process as well as its requests for comment on (1) its new quality control standard, QC 1000 (released in May 2024), and (2) its standard-setting agenda.
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The IASB’s release of (1) a standard that amends its guidance on rate-regulated activities and (2) amendments that clarify which entities are eligible to use the fair value option to measure investments.