Key Dates
Effective Dates
FASB/EITF
FASB/EITF | Affects | Effective Date |
---|---|---|
ASU 2025-01, Income Statement — Reporting Comprehensive Income —
Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the
Effective Date (issued January 6, 2025)
|
Applies to all public business entities but only potentially affects
non-calendar year-end entities.
|
The amendment in this Update amends the effective date of Update 2024-03
to clarify that all public business entities are required to adopt the
guidance in annual reporting periods beginning after December 15, 2026,
and interim periods within annual reporting periods beginning after
December 15, 2027. Early adoption of Update 2024-03 is permitted.
|
ASU 2024-04, Debt — Debt with Conversion and Other Options
(Subtopic 470-20): Induced Conversions of Convertible Debt
Instruments (issued November 26, 2024)
|
All reporting entities that settle
convertible debt instruments for which the conversion privileges were
changed to induce conversion.
|
The amendments in this Update are effective for annual reporting periods
beginning after December 15, 2025, and interim reporting periods within
those annual reporting periods. Early adoption is permitted.
|
ASU 2024-03, Income Statement — Reporting Comprehensive
Income — Expense Disaggregation Disclosures (Subtopic 220-40):
Disaggregation of Income Statement Expenses (issued
November 4, 2024)
|
All public business entities.
|
The amendments in this Update are
effective for annual reporting periods beginning after December 15, 2026,
and interim reporting periods beginning after December 15, 2027, for all
public business entities.
|
ASU
2024-02, Codification Improvements — Amendments to Remove References to
the Concepts Statements (issued March 29, 2024)
|
All reporting entities within the scope of the affected
accounting guidance.
|
The amendments in this Update are effective for public
business entities for fiscal years beginning after December 15, 2024. For
all other entities, the amendments are effective for fiscal years beginning
after December 15, 2025.
Early application of the amendments in this Update is
permitted for all entities, for any fiscal year or interim period for which
financial statements have not yet been issued (or made available for
issuance). If an entity adopts the amendments in an interim period, it must
adopt them as of the beginning of the fiscal year that includes that interim
period.
|
ASU
2024-01, Compensation — Stock Compensation (Topic 718): Scope Application
of Profits Interest and Similar Awards (issued March 21,
2024)
|
All reporting entities that account for profits interest
awards as compensation to employees or nonemployees in return for goods or
services.
|
For public business entities, the amendments in this
Update are effective for annual periods beginning after December 15, 2024,
and interim periods within those annual periods. For all other entities, the
amendments are effective for annual periods beginning after December 15,
2025, and interim periods within those annual periods.
Early adoption is permitted for both interim and annual
financial statements that have not yet been issued or made available for
issuance. If an entity adopts the amendments in an interim period, it should
adopt them as of the beginning of the annual period that includes that
interim period.
|
ASU
2023-09, Income Taxes (Topic 740): Improvements to Income Tax
Disclosures (issued December 14, 2023)
|
All entities that are subject to Topic 740, Income
Taxes.
|
For public business entities, the amendments in this
Update are effective for annual periods beginning after December 15, 2024.
For entities other than public business entities, the amendments are
effective for annual periods beginning after December 15, 2025. Early
adoption is permitted for annual financial statements that have not yet been
issued or made available for issuance.
The amendments in this ASU should be applied on a
prospective basis. Retrospective application is permitted.
|
ASU
2023-08, Goodwill and Other — Crypto Assets (Subtopic 350-60): Accounting
for and Disclosure of Crypto Assets (issued December 13,
2023)
|
All public entities that are required to report segment
information in accordance with Topic 280, Segment Reporting.
|
The amendments are effective for fiscal years beginning
after December 15, 2024, and interim periods within those fiscal years.
Early adoption is permitted.
|
ASU
2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment
Disclosures (issued November 27, 2023)
|
All reporting entities.
|
The amendments are effective for fiscal years beginning
after December 15, 2023, and interim periods within fiscal years beginning
after December 15, 2024. Early adoption is permitted.
|
ASU
2023-06, Disclosure Improvements: Codification Amendments in Response to
the SEC’s Disclosure Update and Simplification Initiative
(issued October 9, 2023)
|
All reporting entities.
|
For entities subject to the SEC’s existing disclosure
requirements and for entities required to file or furnish financial
statements with or to the SEC in preparation for the sale of or for purposes
of issuing securities that are not subject to contractual restrictions on
transfer, the effective date for each amendment will be the date on which
the SEC’s removal of that related disclosure from Regulation S-X or
Regulation S-K becomes effective, with early adoption prohibited. For all
other entities, the amendments will be effective two years later. The
amendments in this ASU should be applied prospectively.
For all entities, if by June 30, 2027, the SEC has not
removed the applicable requirement from Regulation S-X or Regulation S-K,
the pending content of the related amendment will be removed from the
Codification and will not become effective for any entity.
|
ASU 2023-05, Business
Combinations — Joint Venture Formations (Subtopic 805-60): Recognition and
Initial Measurement (issued August 23, 2023)
|
All entities that meet the definition of a joint venture
or a corporate joint venture, as defined in the Master Glossary of the
Codification.
|
The amendments are effective on or after January 1,
2025.
|
ASU
2023-04, Liabilities (Topic 405): Amendments to SEC Paragraphs Pursuant to
SEC Staff Accounting Bulletin No. 121 (issued August 3,
2023)
|
SEC registrants.
|
Effective upon issuance.
|
ASU 2023-03, Amendments to
SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 120, SEC
Staff Announcement at the March 24, 2022 EITF Meeting, and Staff
Accounting Bulletin Topic 6.B, Accounting Series Release 280 — General
Revision of Regulation S-X: Income or Loss Applicable to Common
Stock (issued July 14, 2023)
|
SEC registrants.
|
Effective upon issuance.
|
ASU
2023-02, Investments — Equity Method and Joint Ventures (Topic 323):
Accounting for Investments in Tax Credit Structures Using the Proportional
Amortization Method — a consensus of the FASB Emerging Issues Task
Force (issued March 29, 2023)
|
All reporting entities that hold (1) tax equity
investments that meet the conditions for and elect to account for them using
the proportional amortization method or (2) an investment in a LIHTC
structure through a limited liability entity that is not accounted for using
the proportional amortization method and to which certain LIHTC-specific
guidance removed from ASC 323-740 has been applied. In addition, the
disclosure requirements apply to investments that generate income tax
credits and other income tax benefits from a tax credit program for which
the entity has elected to apply the proportional amortization method
(including investments within that elected program that do not meet the
conditions to apply the proportional amortization method).
|
For public business entities, the amendments are effective
for fiscal years beginning after December 15, 2023, including interim
periods within those fiscal years. For all other entities, the amendments
are effective for fiscal years beginning after December 15, 2024, including
interim periods within those fiscal years. Early adoption is permitted for
all entities in any interim period. If an entity adopts the amendments in an
interim period, it shall adopt them as of the beginning of the fiscal year
that includes that interim period. The amendments in this ASU must be
applied on either a modified retrospective or a retrospective basis (except
for LIHTC investments not accounted for using the proportional amortization
method).
A reporting entity that has LIHTC investments that are no
longer permitted to use (1) the cost method guidance in ASC 323-740-25-2A,
(2) the equity method example in ASC 323-740-55-8 through 55-9, or (3) the
delayed equity contribution guidance in ASC 323-740-25-3 must either use its
general transition method (that is, modified retrospective or retrospective)
or apply a prospective approach.
|
ASU
2023-01, Leases (Topic 842): Common Control Arrangements
(issued March 27, 2023)
|
All entities.
|
Effective for fiscal years beginning after December 15,
2023, including interim periods within those fiscal years. Early adoption is
permitted for both interim and annual financial statements that have not yet
been made available for issuance. If an entity adopts the amendments in an
interim period, it must adopt them as of the beginning of the fiscal year
that includes that interim period.
|
ASU
2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of
Topic 848 (issued December 21, 2022)
|
All entities, subject to meeting certain criteria, that
have contracts, hedging relationships, and other transactions that reference
LIBOR or another reference rate expected to be discontinued because of
reference rate reform.
|
Effective for all entities on December 21, 2022.
|
ASU
2022-05, Financial Services — Insurance (Topic 944): Transition for Sold
Contracts (issued December 15, 2022)
|
Entities that have derecognized contracts before the LDTI
effective date.
| Effective dates of the amendments in this ASU are consistent with the effective dates of the amendments in ASU 2020-11. |
ASU
2022-04, Liabilities — Supplier Finance Programs (Subtopic 405-50):
Disclosure of Supplier Finance Program Obligations (issued
September 30, 2022)
|
All entities that use supplier finance programs in
connection with the purchase of goods and services.
|
Effective for fiscal years beginning after December 15,
2022, including interim periods within those fiscal years, except for the
amendment on rollforward information, which is effective for fiscal years
beginning after December 15, 2023. Early adoption is permitted.
|
ASU
2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of
Equity Securities Subject to Contractual Sale Restrictions
(issued June 30, 2022)
|
All entities that have investments in equity securities
measured at fair value that are subject to a contractual sale
restriction.
|
For public business entities, the amendments in this ASU
are effective for fiscal years beginning after December 15, 2023, and
interim periods within those fiscal years. For all other entities, the
amendments are effective for fiscal years beginning after December 15, 2024,
and interim periods within those fiscal years. Early adoption is permitted
for both interim and annual financial statements that have not yet been
issued or made available for issuance.
For all entities except investment companies as defined
under ASC 946, Financial Services — Investment Companies, the amendments in
this ASU should be applied prospectively with any adjustments from the
adoption of the amendments recognized in earnings and disclosed on the date
of adoption.
An entity that qualifies as an investment company under
ASC 946 should apply the amendments in this ASU to an investment in an
equity security subject to a contractual sale restriction that is executed
or modified on or after the date of adoption. An investment company with an
equity security subject to a contractual sale restriction that was executed
before the date of adoption should continue to account for the equity
security until the contractual restrictions expire or are modified using the
accounting policy applied before the adoption of the amendments (that is, if
an investment company was incorporating the effects of the restriction in
the measurement of fair value, it would continue to do so).
|
ASU 2022-02, Financial
Instruments — Credit Losses (Topic 326): Troubled Debt Restructurings and
Vintage Disclosures (issued March 31, 2022)
|
The amendments related to troubled debt restructurings
(TDRs) affect all entities after they have adopted ASU 2016-13. The
amendments related to vintage disclosures affect public business entities
with investments in financing receivables that have adopted ASU 2016-13.
|
For entities that have adopted the amendments in ASU
2016-13, the amendments in ASU 2022-02 are effective for fiscal years
beginning after December 15, 2022, including interim periods within those
fiscal years. For entities that have not yet adopted the amendments in ASU
2016-13, the effective dates for the amendments in ASU 2022-02 are the same
as the effective dates in ASU 2016-13. The amendments in ASU 2022-02 should
be applied prospectively, except as provided in the next sentence. For the
transition method related to the recognition and measurement of TDRs, an
entity has the option to apply a modified retrospective transition method,
resulting in a cumulative-effect adjustment to retained earnings in the
period of adoption.
Early adoption of the amendments in ASU 2022-02 is
permitted if an entity has adopted the amendments in ASU 2016-13, including
adoption in an interim period. If an entity elects to early adopt the
amendments in ASU 2022-02 in an interim period, the guidance should be
applied as of the beginning of the fiscal year that includes the interim
period. An entity may elect to early adopt the amendments about TDRs and
related disclosure enhancements separately from the amendments related to
vintage disclosures.
|
ASU
2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging —
Portfolio Layer Method (issued March 28, 2022)
|
All entities that elect to apply the portfolio layer
method of hedge accounting in accordance with ASC 815.
|
For public business entities, fiscal years beginning after
December 15, 2022, and interim periods within those fiscal years. For all
other entities, fiscal years beginning after December 15, 2023, and interim
periods within those fiscal years. The guidance may be early adopted if an
entity has adopted ASU 2017-12 for the corresponding period.
|
ASU
2021-09, Leases (Topic 842): Discount Rate for Lessees That Are Not Public
Business Entities (issued November 11, 2021)
|
Lessees that are not public business entities, including
all not-for-profit entities (whether or not they are conduit bond obligors)
and employee benefit plans (whether or not they file or furnish financial
statements with or to the U.S. Securities and Exchange Commission).
|
Entities that have not yet adopted ASC 842 as of November
11, 2021, are required to adopt the amendments in this ASU at the same time
that they adopt ASC 842.
For entities that have adopted ASC 842 as of November 11,
2021, the amendments in this ASU are effective for fiscal years beginning
after December 15, 2021, and interim periods within fiscal years beginning
after December 15, 2022. Early application is permitted.
|
ASU
2021-08, Business Combinations (Topic 805): Accounting for Contract Assets
and Contract Liabilities From Contracts With Customers
(issued October 28, 2021)
|
All entities that enter into a business combination within
the scope of ASC 805-10, Business Combinations — Overall.
|
For public business entities, the amendments in this ASU
are effective for fiscal years beginning after December 15, 2022, including
interim periods within those fiscal years. For all other entities, the
amendments are effective for fiscal years beginning after December 15, 2023,
including interim periods within those fiscal years. The amendments in this
ASU should be applied prospectively to business combinations occurring on or
after the effective date of the amendments.
Early adoption of the amendments is permitted, including
adoption in an interim period. An entity that early adopts in an interim
period should apply the amendments (1) retrospectively to all business
combinations for which the acquisition date occurs on or after the beginning
of the fiscal year that includes the interim period of early application and
(2) prospectively to all business combinations that occur on or after the
date of initial application.
|
ASU
2021-07, Compensation — Stock Compensation (Topic 718): Determining the
Current Price of an Underlying Share for Equity-Classified Share-Based
Awards — a consensus of the Private Company Council
(issued October 25, 2021)
|
All nonpublic entities that issue equity-classified
share-based awards and elect the practical expedient in this ASU.
|
Effective prospectively for all qualifying awards granted
or modified during fiscal years beginning after December 15, 2021, and
interim periods within fiscal years beginning after December 15, 2022. Early
application, including application in an interim period, is permitted for
financial statements that have not yet been issued or made available for
issuance as of October 25, 2021.
|
ASU
2021-05, Leases (Topic 842): Lessors — Certain Leases With Variable Lease
Payments (issued July 19, 2021)
|
Lessors with lease contracts that (1) have variable lease
payments that do not depend on a reference index or a rate and (2) would
have resulted in the recognition of a selling loss at lease commencement if
classified as sales-type or direct financing.
|
For public business entities, the amendments are effective
for fiscal years beginning after December 15, 2021, and interim periods
within those fiscal years. For all other entities, the amendments are
effective for interim periods within fiscal years beginning after December
15, 2022. Earlier application is permitted.
Entities that have not adopted Topic 842 on or before the
issuance date of this ASU should follow the transition requirements in
842-10-65-1. This transition is either (1) retrospective to each prior
period presented in the financial statements with the cumulative effect of
transition recognized at the beginning of the earliest period presented or
(2) retrospective to the beginning of the period of adoption with a
cumulative effect of transition recognized at the beginning of the period of
adoption.
Entities that have adopted Topic 842 before the issuance
date of this ASU have the option to apply the amendments in this ASU either
(1) retrospectively to leases that commenced or were modified on or after
the adoption of ASU 2016-02 or (2) prospectively to leases that commence or
are modified on or after the date that an entity first applies the
amendments.
|
ASU
2021-01, Reference Rate Reform (Topic 848): Scope (issued
January 7, 2021)
|
All entities that have derivative instruments that use an
interest rate for margining, discounting, or contract price alignment that
is modified as a result of reference rate reform.
|
Effective upon issuance.
|
ASU
2020-11, Financial Services — Insurance (Topic 944): Effective Date and
Early Application (issued November 5, 2020)
|
All entities.
|
The amendments in this ASU defer the effective date of
LDTI for all entities by one year as follows:
|
ASU
2020-08, Codification Improvements to Subtopic 310-20, Receivables —
Nonrefundable Fees and Other Costs (issued October 15,
2020)
|
All entities.
|
The amendments affect the guidance in ASU 2017-08. The
effective date of ASU 2017-08 varies depending on the type of entity. For
public business entities, the amendments in ASU 2017-08 are effective for
fiscal years, and interim periods within those fiscal years, beginning after
December 15, 2018, and for all other entities for fiscal years beginning
after December 15, 2019, and interim periods within fiscal years beginning
after December 15, 2020. Early adoption was permitted, including adoption in
an interim period. If an entity early adopted the amendments in ASU 2017-08
in an interim period, any adjustments should have been reflected as of the
beginning of the fiscal year that includes that interim period.
For public business entities, the amendments in this ASU
are effective for fiscal years, and interim periods within those fiscal
years, beginning after December 15, 2020. Early application is not
permitted.
For all other entities, the amendments in this ASU are
effective for fiscal years beginning after December 15, 2021, and interim
periods within fiscal years beginning after December 15, 2022. Early
application is permitted for all other entities for fiscal years, and
interim periods within those fiscal years, beginning after December 15,
2020.
All entities should apply the amendments in this ASU on a
prospective basis as of the beginning of the period of adoption for existing
or newly purchased callable debt securities.
|
ASU
2020–07, Not-for-Profit Entities (Topic 958): Presentation and Disclosures
by Not-for-Profit Entities for Contributed Nonfinancial
Assets (issued September 17, 2020)
|
Not-for-profits that receive contributed nonfinancial
assets.
|
The amendments in this ASU should be applied on a
retrospective basis and are effective for annual periods beginning after
June 15, 2021, and interim periods within annual periods beginning after
June 15, 2022. Early adoption is permitted.
|
ASU 2020-06, Debt —
Debt With Conversion and Other Options (Subtopic 470-20) and Derivatives
and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40):
Accounting for Convertible Instruments and Contracts in an Entity’s Own
Equity (issued August 5, 2020)
|
Entities that issue convertible instruments and/or
contracts in an entity’s own equity.
|
Effective for public business entities that meet the
definition of a Securities and Exchange Commission (SEC) filer, excluding
entities eligible to be smaller reporting companies as defined by the SEC,
for fiscal years beginning after December 15, 2021, including interim
periods within those fiscal years.
Effective for all other entities for fiscal years
beginning after December 15, 2023, including interim periods within those
fiscal years.
Early adoption is permitted, but no earlier than fiscal
years beginning after December 15, 2020, including interim periods within
those fiscal years. An entity should adopt the guidance as of the beginning
of its annual fiscal year.
|
ASU
2020-05, Revenue From Contracts With Customers (Topic 606) and Leases
(Topic 842): Effective Dates for Certain Entities (issued
June 3, 2020)
|
All entities that have not yet issued their financial
statements (or made their financial statements available for issuance) as of
June 3, 2020.
|
Effective upon issuance.
|
ASU
2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of
Reference Rate Reform on Financial Reporting (issued March
12, 2020)
|
All entities.
|
The amendments in this ASU are effective for all entities
as of March 12, 2020, through December 31, 2022.
|
ASU
2020-03, Codification Improvements to Financial
Instruments (issued March 9, 2020)
|
All entities.
|
Conforming Amendments (Issues 1, 2, 3, 4, and
5)
The amendments related to Issue 1, Issue 2, Issue 4, and
Issue 5 are conforming amendments. For public business entities, the
amendments are effective upon issuance of this final ASU. For all other
entities, the amendments are effective for fiscal years beginning after
December 15, 2019, and interim periods within those fiscal years beginning
after December 15, 2020. Early application is permitted.
The amendment related to Issue 3 is a conforming amendment
that affects the guidance in the amendments in ASU 2019-04. That guidance
relates to the amendments in ASU 2016-01 The effective date of ASU 2019-04
for the amendments to ASU 2016-01 is for fiscal years beginning after
December 15, 2019, including interim periods within those fiscal years.
Amendments to ASU 2016-13 (Issues 6 and 7)
The amendments related to Issue 6 and Issue 7 affect the
guidance in the amendments in ASU 2016-13. The effective date of ASU 2016-13
varies depending on the type of entity. Public business entities that meet
the definition of an SEC filer, excluding eligible smaller reporting
companies (SRCs) as defined by the SEC, should adopt the amendments in ASU
2016-13 during 2020. All other entities should adopt the amendments in ASU
2016-13 during 2023. Early adoption will continue to be permitted.
For entities that have not yet adopted the guidance in ASU
2016-13, the effective dates and the transition requirements for these
amendments are the same as the effective date and transition requirements in
ASU 2016-13.
For entities that have adopted the guidance in ASU
2016-13, the amendments are effective for fiscal years beginning after
December 15, 2019, including interim periods within those fiscal years. For
those entities, the amendments should be applied on a modified-retrospective
basis by means of a cumulative-effect adjustment to opening retained
earnings in the statement of financial position as of the date that an
entity adopted the amendments in ASU 2016-13.
|
ASU 2019-12, Income Taxes (Topic 740):
Simplifying the Accounting for Income Taxes (issued
December 18, 2019)
|
All entities.
|
For public business entities, the amendments in this ASU are effective for
fiscal years, and interim periods within those fiscal years, beginning after
December 15, 2020. For all other entities, the amendments are effective for
fiscal years beginning after December 15, 2021, and interim periods within
fiscal years beginning after December 15, 2022. Early adoption of the
amendments is permitted, including adoption in any interim period for (1)
public business entities for periods for which financial statements have not
yet been issued and (2) all other entities for periods for which financial
statements have not yet been made available for issuance. An entity that
elects to early adopt the amendments in an interim period should reflect any
adjustments as of the beginning of the annual period that includes that
interim period. In addition, an entity that elects early adoption must adopt
all the amendments in the same period.
|
ASU 2019-11,
Codification Improvements to Topic 326, Financial Instruments — Credit
Losses (issued November 27, 2019)
|
All entities.
|
For entities that have not yet adopted the amendments in ASU 2016-13
as of the issuance date of ASU 2019-11, the effective dates and transition requirements
for the amendments are the same as the effective dates and transition requirements in
ASU 2016-13.
For entities that have adopted the amendments in ASU 2016-13, the
amendments in ASU 2019-11 are effective for fiscal years beginning after December 15,
2019, including interim periods within those fiscal years. Early adoption is permitted
in any interim period after the issuance of ASU 2019-11 as long as an entity has adopted
the amendments in ASU 2016-13.
For entities that have adopted the amendments in ASU 2016-13, the
amendments in ASU 2019-11 should be applied on a modified retrospective basis by means
of a cumulative-effect adjustment to the opening retained earnings balance in the
statement of financial position as of the date that an entity adopted the amendments in
ASU 2016-13.
|
ASU
2019-10, Financial Instruments — Credit Losses
(Topic 326), Derivatives and Hedging (Topic 815),
and Leases (Topic 842): Effective
Dates (issued November 15,
2019)
|
All entities.
|
This ASU amends the effective
dates of ASUs 2016-02, 2016-13, 2017-04, and
2017-12. See effective date information for these
ASUs below.
|
ASU
2019-09, Financial Services — Insurance (Topic
944): Effective Date (issued
November 15, 2019)
|
All entities.
|
This ASU amends the effective
date of ASU 2018-12. See effective date
information for ASU 2018-12 below.
|
ASU 2019-05, Financial
Instruments — Credit Losses (Topic 326): Targeted Transition
Relief (issued May 15, 2019) | All entities. |
For entities that have not yet adopted ASU
2016-13, the amendments in ASU 2019-05 are
effective at the same time as ASU 2016-13. For
entities that have adopted ASU 2016-13, the
amendments are effective for fiscal years
beginning after December 15, 2019, including
interim periods within those fiscal years. Early adoption is permitted in any interim period after the issuance of ASU
2019-05 as long as an entity has adopted the
amendments in ASU 2016-13. The amendments in ASU 2019-05 should be applied on a modified-retrospective basis by means of a cumulative-effect adjustment to the opening balance of retained earnings balance in the statement of financial position as of the date that an entity adopted the amendments in ASU 2016-13. |
ASU 2019-04, Codification
Improvements to Topic 326, Financial Instruments —
Credit Losses, Topic 815, Derivatives and Hedging,
and Topic 825, Financial
Instruments (issued April 25,
2019; effective date amended by ASU 2019-10) | All entities. |
The amendments to ASU 2016-01 are effective for
fiscal years and interim periods beginning after
December 15, 2019.
For entities that have not yet adopted ASU
2016-13, the amendments are effective at the same
time as ASU 2016-13. For entities that have
adopted ASU 2016-13, the amendments are effective
for fiscal years beginning after December 15,
2019, including interim periods within those
fiscal years.
The amendments to ASU 2017-12 are effective (1)
at the same time as ASU 2017-12 for entities that
have not yet adopted the ASU, and (2) as of the
beginning of the first annual reporting period
beginning after April 25, 2019, for entities that
have adopted ASU 2017-12.
Early adoption is permitted in any interim
period after issuance of this ASU as long as the
entity has adopted the amendments in ASU
2016-13. |
ASU 2019-01, Leases
(Topic 842): Codification Improvements (issued March 5,
2019) | All entities. | The transition and effective date provisions for ASU 2019-01 apply to Issue 1 and Issue 2. They do not apply to Issue 3 because the amendments for that Issue are to the original transition requirements in ASC 842.
The amendments in this ASU amend ASC 842, which has different effective dates for public business entities and entities other than public business entities. The effective date of those amendments is for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years for any of the following: (1) a public business entity; (2) a not-for-profit entity that has issued, or is a conduit bond obligor for, securities that are traded, listed, or quoted on an exchange or an over-the-counter market; and (3) an employee benefit plan that files financial statements with the SEC.
For all other entities, the effective date is for fiscal years beginning after December 15, 2019, and interim periods within fiscal years beginning after December 15, 2020. Early application is permitted. An entity should apply the amendments as of the date that it first applied ASC 842, using the same transition methodology in accordance with ASC 842-10-65-1(c).
|
ASU 2018-20, Leases (Topic 842): Narrow-Scope Improvements for Lessors (issued December 10, 2018) | All entities. | For entities that have not adopted ASC 842, the effective date is the same as the effective date in ASU 2016-02. An entity that has adopted ASC 842 can apply the amendments as of the original effective date of
ASC 842 for the entity. Alternatively, the entity has the option of applying the amendments in either the first reporting period ending after the issuance of this ASU (e.g., December 31, 2018) or in the first reporting period beginning after the issuance of this ASU (e.g., January 1, 2019). An entity may apply the amendments either retrospectively or prospectively. |
ASU 2018-19, Codification Improvements to Topic 326: Financial Instruments — Credit Losses (issued November 15, 2018) | All entities. | The effective date and transition requirements for the amendments in this ASU are the same as the effective dates and transition requirements in ASU 2016-13, as amended by ASU 2018-19. |
ASU 2018-12, Financial
Services — Insurance (Topic 944): Targeted Improvements to the Accounting
for Long-Duration Contracts (issued August 15, 2018;
effective date amended by ASU 2019-09 and ASU 2020-11) | All entities. |
For public business entities
that meet the definition of an SEC filer, excluding entities eligible to be
smaller reporting companies as defined by the SEC, the amendments in this
ASU are effective for fiscal years beginning after December 15, 2022, and
interim periods within those fiscal years. For all other entities, the
amendments are effective for fiscal years beginning after December 15, 2024,
and interim periods within fiscal years beginning after December 15, 2025.
Early application of the amendments is permitted.
|
ASU 2018-11, Leases (Topic 842): Targeted Improvements (issued July 30, 2018) | All entities. | The amendments in this ASU related to separating components of a contract affect
the amendments in ASU 2016-02. For entities that have not adopted ASC 842 before the issuance of this ASU, the effective date and transition requirements for the amendments in the ASU related to separating components of a contract are the same as the effective date and transition requirements in ASU 2016-02. For entities that have adopted ASC 842 before the issuance of this ASU, the transition and effective date of the amendments related to separating components of a contract in this ASU are as follows:
All entities, including early adopters, that elect the practical expedient related to separating components of a contract in this ASU must apply the expedient, by class of underlying asset, to all existing lease transactions that qualify for the expedient as of the date elected. |
ASU 2018-10, Codification Improvements to Topic 842, Leases (issued July 18, 2018) | All entities. | The amendments in this ASU affect the amendments in ASU 2016-02. For entities
that early adopted ASC 842, the amendments are effective upon issuance of
ASU 2018-10, and the transition requirements are the same as those in ASC
842. For entities that have not adopted ASC 842, the effective date and
transition requirements will be the same as the effective date and
transition requirements in ASC 842. |
ASU 2018-01, Leases (Topic 842): Land Easement Practical Expedient for Transition to Topic 842 (issued January 25, 2018) | Entities with land easements that exist or expired before an entity’s adoption of ASC 842, provided that the entity does not
account for those land easements as leases under ASC 840.
| The amendments in the ASU affect the amendments in ASU 2016-02, which are not yet effective but may be early adopted. |
ASU 2017-13, Revenue Recognition (Topic 605), Revenue From Contracts With Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842): Amendments to SEC Paragraphs Pursuant to the Staff Announcement at the July 20, 2017 EITF Meeting and Rescission of Prior SEC Staff Announcements and Observer Comments (issued September 29, 2017) | All entities. | Effective upon adoption of ASC 606, Revenue From Contracts With Customers, and ASC 842, Leases. |
ASU 2017-04, Intangibles
— Goodwill and Other (Topic 350): Simplifying the
Test for Goodwill Impairment
(issued January 26, 2017; effective date amended
by ASU 2019-10) | All entities. | For public business entities that are SEC filers, excluding entities eligible to
be smaller reporting companies as defined by the
SEC, the amendments in the ASU are effective for
annual and interim goodwill impairment tests in
fiscal years beginning after December 15,
2019.
For all other entities, the
ASU’s amendments are effective for annual and
interim goodwill impairment tests in fiscal years
beginning after December 15, 2022.
Early adoption is permitted for interim or
annual goodwill impairment tests performed on
testing dates after January 1, 2017. |
ASU 2016-13, Financial
Instruments — Credit Losses (Topic 326):
Measurement of Credit Losses on Financial
Instruments (issued June 16, 2016;
effective date amended by ASU 2018-19 and ASU
2018-10) | Entities holding financial assets and net investments in leases that are not accounted for at fair value through net income. The amendments affect loans, debt securities, trade receivables, net investments in leases, off-balance-sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. |
For public business entities
that are SEC filers, excluding entities eligible
to be smaller reporting companies, the amendments
in the ASU are effective for fiscal years
beginning after December 15, 2019, including
interim periods within those fiscal years.
For all other entities, the
amendments in the ASU are effective for fiscal
years beginning after December 15, 2022, including
interim periods within those fiscal years.
|
ASU 2016-02, Leases
(Topic 842) (issued February 25,
2016; effective date amended by ASU 2019-10) | All entities. | Effective for fiscal years beginning after December 15, 2018, including interim
periods within those fiscal years, for any of the
following:
|
AICPA/FinREC
AICPA/FinREC | Affects | Effective Date |
---|---|---|
Auditors.
|
Effective for audits of group financial statements for
periods ending on or after December 15, 2026.
| |
SAS
148, Amendment to AU-C Section 935 (issued August 8,
2022)
|
Auditors.
|
Effective for audits of financial statements for periods
beginning on or after December 12, 2022. All other amendments are effective
for compliance audits for fiscal periods ending on or after December 15,
2023.
|
Auditors.
|
Effective for audits of financial statements for periods
beginning on or after June 30, 2023.
| |
Auditors.
|
Effective for engagements conducted in accordance with
GAAS for periods beginning on or after December 15, 2025.
| |
SAS 145, Understanding the Entity and Its Environment and Assessing the
Risks of Material Misstatement (issued October 12,
2021)
|
Auditors.
|
Effective for audits of financial statements for periods
ending on or after December 15, 2023.
|
SAS 144, Amendments to AU-C Sections 501, 540, and 620 Related to the Use of Specialists and the Use of Pricing Information Obtained From External Information Sources (issued June 9, 2021) | Auditors. |
Effective for audits of financial statements for periods ending on or after
December 15, 2023.
|
SAS 143, Auditing Accounting Estimates and Related
Disclosures (issued July 2020)
|
Auditors.
|
Effective for audits of financial statements for periods
ending on or after December 15, 2023.
|
SAS 142, Audit Evidence (issued July 2020)
|
Auditors.
|
Effective for audits of financial statements for periods
ending on or after December 15, 2022.
|
SAS 141, Amendment to the Effective Dates of SAS Nos.
134–140 (issued May 2020)
|
Auditors.
|
This SAS amends the effective dates of SASs 134–140 by one
year to provide more time for firms to implement these SASs in light of the
effects of the coronavirus pandemic.
|
Auditors.
|
Effective for periods ending on or after December 15,
2021.
| |
Auditors.
|
Effective for periods ending on or after December 15,
2021.
| |
SAS 138, Amendments to the Description of the Concept of
Materiality (issued December 5, 2019)
|
Auditors.
|
Effective for audits of financial statements for periods
ending on or after December 15, 2021.
|
Auditors.
|
Effective for audits of
financial statements for periods ending on or after December 15, 2021. Early
adoption is not permitted.
| |
Auditors that perform audits of financial statements of employee benefit plans subject to ERISA. | Effective for audits of ERISA plan financial statements for periods ending on or
after December 15, 2021. Early adoption is permitted. | |
SAS 135, Omnibus Statement on Auditing Standards — 2019
(issued May 8, 2019) | Auditors. | Effective for audits of financial statements for periods ending on or after
December 15, 2021. Early implementation is permitted. |
Auditors. | Effective for audits of financial statements for periods ending on or after
December 15, 2021. Early implementation is permitted. |
SEC
SEC
|
Affects
|
Effective Date
|
---|---|---|
Final Rules
| ||
Technical Amendments to Commission Rules
and Forms (33-11361) (issued January 17, 2025)
|
SEC registrants.
|
Effective date: Date of
publication in Federal Register.
|
SEC registrants.
|
March 14, 2025.
| |
SEC registrants.
|
Effective date: March 24,
2025.
Compliance date:
The applicable compliance dates are discussed in Section
VIII.
| |
Adoption of Updated EDGAR Filer Manual
(33-11341) (issued December 16, 2024)
|
SEC registrants.
|
January 30, 2025.
|
Update to the Commission’s Organization and
Program Management Regulations (33-11337) (issued December 10, 2024)
|
SEC registrants.
|
December 16, 2024.
|
Private Fund Advisers; Documentation of
Registered Investment Adviser Compliance Reviews
(IA-6773) (issued November 8, 2024)
|
SEC registrants.
|
November 19, 2024.
|
Conforming Amendments to Commission
Rules and Forms (33-11325) (issued November 7,
2024)
|
SEC registrants.
|
November 18, 2024.
|
Covered Clearing Agency Resilience and Recovery
and Orderly Wind-Down Plans (34-101446) (issued October
28, 2024)
|
SEC registrants.
|
Effective date: January 17,
2025.
Compliance date: The applicable
compliance dates are discussed in Part III.
|
EDGAR Filer Access and Account Management
(33-11313) (issued September 27, 2024)
|
SEC registrants.
|
Effective date: The effective date for the rule and form amendments
is March 24, 2025. The effective dates for the EDGAR Filer Manual changes
are March 24, 2025, and December 22, 2025.
Compliance date: The compliance date for amended Form ID is March
24, 2025. The compliance date for all other rule and form amendments (other
than the EDGAR Filer Manual changes) is September 15, 2025.
|
Regulation NMS: Minimum Pricing Increments, Access Fees, and Transparency
of Better Priced Orders (34-101070) (issued September 18,
2024)
|
SEC registrants.
|
Effective date: December 9, 2024.
Compliance date: The applicable compliance dates
are discussed in section VI.
|
Final Rule, Adoption of Updated EDGAR Filer
Manual (33-11304) (issued September 16, 2024)
|
SEC registrants.
|
October 22, 2024
|
SEC registrants.
|
Effective date: The amendments to Forms N-PORT and N-CEN, and
amendatory instruction 2 to 17 CFR 270.30b1-9, are effective November 17,
2025. Amendatory instruction 3 to 17 CFR 270.30b1-9 is effective May 18,
2026.
Compliance date: The applicable compliance dates are discussed in
section II.E.
| |
Qualifying Venture Capital Funds
Inflation Adjustment (IC-35305) (issued August 21,
2024)
|
SEC registrants.
|
September 30, 2024.
|
SEC registrants.
|
Effective date: September 23, 2024.
Compliance date: The applicable compliance dates
are discussed in section II.J of this release.
| |
Final Rule, Adoption of Updated EDGAR Filer
Manual (33-11293) (issued July 1, 2024)
|
SEC registrants.
|
August 9, 2024.
|
SEC registrants.
|
August 2, 2024.
| |
Exemption for Certain Investment Advisers Operating Through the Internet
(IA-6578) (issued March 27, 2024)
|
SEC registrants.
|
July 8, 2024.
|
Share Repurchase Disclosure Modernization (34-99778)
(issued March 19, 2024)
|
SEC registrants.
|
April 8, 2024.
|
Final Rule, Adoption of Updated EDGAR Filer Manual
(33-11277) (issued March 18, 2024)
|
SEC registrants.
|
April 19, 2024.
|
Disclosure of Order Execution Information (34-99679)
(issued March 6, 2024)
|
SEC registrants.
|
Effective date: June 14, 2024.
Compliance date: See section VII, titled
“Transition Matters,” for further information on transitioning to the final
rules.
|
The
Enhancement and Standardization of Climate-Related Disclosures for
Investors (33-11275) (issued March 6, 2024)
|
SEC registrants.
|
Effective date: As of April 12, 2024, the effective
date of the Final Rules, published at 89 FR 21668, March 28, 2024, is
delayed indefinitely.
|
Form PF; Reporting Requirements for All Filers and Large Hedge Fund
Advisers (IA-6546) (issued February 8, 2024);
Form PF; Reporting Requirements for All
Filers and Large Hedge Fund Advisers; Extension of Compliance Date
(IA-6838) (issued January 29, 2025)
|
SEC registrants.
|
Effective date: March 12, 2025.
Compliance date: The compliance date for the
amendments to Form PF adopted on February 8, 2024, is extended to June 12,
2025.
|
SEC registrants.
|
Effective date: April 29, 2024.
Compliance date: The compliance date is discussed in section II.B of
this release.
| |
Special Purpose Acquisition Companies, Shell Companies, and Projections
(33-11265) (issued January 24, 2024); Special Purpose Acquisition Companies, Shell Companies,
and Projections; Correction (33-11265A; 34-99418A)
(revised June 14, 2024)
|
SEC registrants.
| Effective date: July 1, 2024. Compliance
date: The compliance date for the final rules, other than 17 CFR
229.1610, is July 1, 2024. The compliance date for 17 CFR 229.1610 is June 30,
2025. |
Adoption of Updated EDGAR Filer Manual (33-11259) (issued
December 18, 2023)
|
SEC registrants.
|
December 18, 2023.
|
SEC registrants.
|
Effective date: March 18, 2024.
Compliance date: The applicable compliance dates
are discussed in Part III of this release.
| |
Prohibition Against Conflicts of Interests in Certain Securitizations
(33-11254) (issued November 27, 2023)
|
SEC registrants.
|
Effective date: February 5, 2024.
Compliance date: See Section II.I.
|
Clearing Agency Governance and Conflicts of Interest
(34-98959) (issued November 16, 2023)
|
SEC registrants.
|
Effective date: February 5, 2024.
Compliance date: See Part III.
|
SEC registrants.
|
Effective date: February 13, 2024.
Compliance date: See section XVI (Compliance
Schedule).
| |
Short Position and Short Activity Reporting by Institutional Investment
Managers (34-98738) (issued October 13, 2023)
|
SEC registrants.
|
Effective date: January 2, 2024.
Compliance date: See Part VI.
|
Reporting of Securities Loans (34-98737) (issued October
13, 2023)
|
SEC registrants.
|
Effective date: January 2, 2024.
Compliance date: See Part VIII.
|
Modernization of Beneficial Ownership Reporting (33-11253;
34-98704) (issued October 10, 2023)
|
SEC registrants.
|
Effective date: February 5, 2024.
Compliance date: See section II.G.
|
The
Commission's Privacy Act Regulations (34-98437) (issued
September 20, 2023)
|
SEC registrants.
|
October 26, 2023.
|
Investment Company Names (33-11238 and 33-11238A) (issued
September 20, 2023)
|
SEC registrants.
| December 11, 2023. |
Adoption of Updated EDGAR Filer Manual (33-11235) (issued
September 18, 2023)
|
SEC registrants.
|
October 3, 2023.
|
Private Fund Advisers; Documentation of Registered Investment Adviser
Compliance Reviews (IA-6383) (issued August 23, 2023)
|
SEC registrants.
|
Effective date: November 13, 2023.
Compliance date: See Section IV.
|
Exemption for Certain Exchange Members (34-98202) (issued
August 23, 2023)
|
SEC registrants.
|
Effective date: November 6, 2023.
Compliance date: September 6, 2024.
|
Cybersecurity Risk Management, Strategy, Governance, and Incident
Disclosure (33-11216) (issued July 26, 2023)
|
SEC registrants.
|
Effective date: The amendments are effective
September 5, 2023.
Compliance dates: See Section II.I for Compliance
Dates.
|
SEC registrants.
|
Effective dates: The rule amendments and amendments
to Forms N-1A and N-CSR are effective 60 days after the date of publication
in the Federal Register. The amendments to Forms N-CR, N-MFP, and PF
are effective June 11, 2024.
Compliance dates: The applicable compliance dates
are discussed in Section II.H.
| |
Adoption of Updated EDGAR Filer Manual (33-11205) (issued
June 15, 2023)
|
SEC registrants.
|
July 18, 2023.
|
Removal of References to Credit Ratings From Regulation M
(34-97657) (issued June 7, 2023)
|
SEC registrants.
|
August 21, 2023.
|
SEC registrants.
|
August 29, 2023.
| |
Technical Amendments to Commission Rules and Forms
(33-11197) (issued May 31, 2023)
|
SEC registrants.
| June 12, 2023. |
Technical Amendments to Form BD and Form BDW (34-97478)
(issued May 11, 2023)
|
SEC registrants.
|
May 23, 2023.
|
SEC registrants.
| Effective date: June 11,
2024. Compliance date: June 11, 2024. | |
Share Repurchase Disclosure Modernization (34-97424)
(issued May 3, 2023)
|
SEC registrants.
|
July 31, 2023.
|
Adoption of Updated EDGAR Filer Manual (33-11168) (issued
March 20, 2023)
|
SEC registrants.
|
April 20, 2023.
|
Extending Form 144 EDGAR Filing Hours (33-11159) (issued
February 21, 2023)
|
SEC registrants.
|
March 20, 2023.
|
Shortening the Securities Transaction Settlement Cycle
(34-96930) (issued February 15, 2023)
|
SEC registrants.
|
May 5, 2023.
Compliance date: The applicable compliance dates
are discussed in Part VII.
|
Adjustments to Civil Monetary Penalty Amounts (33-11143)
(issued January 6, 2023)
|
SEC registrants.
|
January 15, 2023.
|
Adoption of Updated EDGAR Filer Manual (33-11140) (issued December 19, 2022) |
SEC registrants.
|
January 24, 2023.
|
Technical Amendments to Commission Rules (33-11139)
(issued December 15, 2022)
|
SEC registrants.
|
December 21, 2022.
|
Insider Trading Arrangements and Related Disclosures
(33-11138) (issued December 14, 2022)
|
SEC registrants.
|
February 27, 2023.
|
SEC registrants.
|
July 1, 2024.
| |
Listing Standards for Recovery of Erroneously Awarded Compensation
(33-11126) (issued October 26, 2022)
|
SEC registrants.
| Effective date: October 2,
2023. Compliance date for public companies: December 1,
2023. |
SEC registrants.
|
Effective date: January 27, 2023.
Compliance date: The applicable compliance dates
are discussed in section II.J.
| |
SEC registrants.
|
Effective date: January 3, 2023.
Compliance Date: The compliance date for the
amendments to 17 CFR 240.17a-4 is six months after publication in the
Federal Register. The compliance date for the amendments to 17 CFR
240.18a-6 is twelve months after publication in the Federal
Register.
| |
Adoption of Updated EDGAR Filer Manual (33-11101) (issued
September 19, 2022)
|
SEC registrants.
|
October 13, 2022.
|
Inflation Adjustments Under Titles I and III of the JOBS Act
(33-11098) (issued September 9, 2022)
|
SEC registrants.
|
September 20, 2022.
|
Whistle Blower Program Rules (34-95260) (issued August
26, 2022)
|
SEC registrants.
|
October 3, 2022.
|
Pay
Versus Performance (34-95607) (issued August 25, 2022)
|
SEC registrants.
|
October 11, 2022.
|
Adoption of Updated EDGAR Filer Manual (33-11082) (issued
July 13, 2022)
|
SEC registrants.
|
July 19, 2022.
|
Proxy Voting Advice (34-95266) (issued July 13, 2022)
|
SEC registrants.
|
The amendments and the rescission of the guidance are
effective September 19, 2022.
|
SEC registrants.
|
Effective date: This rule is effective August 29,
2022, except for the amendments to Form 13F (referenced in 17 CFR 249.325)
which are effective January 3, 2023.
Compliance date: The applicable compliance dates
are discussed in section II.D. of this final rule.
| |
Updating EDGAR Filing Requirements and Form 144 Filings
(33-11070) (issued June 2, 2022)
|
SEC registrants.
|
Effective date: July 11, 2022.
Compliance date: See Section II. F. for further
information on transitioning to the final rules.
|
Technical Amendments to Commission Rules and Forms
(33-11047) (issued March 29, 2022)
|
SEC registrants.
|
April 15, 2022.
|
Adoption of Updated EDGAR Filer Manual (33-11043) (issued
March 21, 2022)
|
SEC registrants.
|
April 19, 2022.
|
Adoption of Updated EDGAR Filer Manual (33-11016) (issued
December 20, 2021)
|
SEC registrants.
|
January 5, 2022.
|
Holding Foreign Companies Accountable Act Disclosure
(34-93701) (issued December 2, 2021)
|
SEC registrants.
|
The amendments are effective on January 10, 2022, except
for the addition of §232.405(c)(1)(iii)(C), which is effective from January
10, 2022, until July 1, 2023.
|
Universal Proxy (34-93596) (issued November 17, 2021)
|
SEC registrants.
|
Effective date: January 31, 2022.
Compliance date: The applicable compliance date is
discussed in Section II.K.
|
Filing Fee Disclosure and Payment Methods Modernization
(33-10997) (issued October 13, 2021)
|
SEC registrants.
|
Effective date: The final rules are effective on
January 31, 2022, except for amendments to 17 CFR 202.3a, 17 CFR 230.111, 17
CFR 240.0-9, and 17 CFR 270.0-8, which are effective on May 31, 2022.
Compliance date: See Section II.A.6 for further
information on transitioning to the final rules.
|
Investment
Company Reporting Modernization (33-10442) (issued
December 8, 2017)
|
SEC registrants.
|
Effective January 16, 2018, until March 31, 2026. The
effective date for the amendments to 17 CFR 232.401, 249.332, 270.8b–33,
270.30a–2, 270.30a–3, 270.30b1–5, and 17 274.130 and in Instructions 54, 57,
59, and 61 in the final rule published at 81 FR 81870 on November 18, 2016,
is delayed until May 1, 2020.
|
PCAOB
PCAOB | Affects | Effective Date |
---|---|---|
Release No. 2024-013, Firm
Reporting (issued November 21, 2024)
|
Auditors of public entities.
|
For the largest firms (as defined in new Rule 4013), the final
amendments will become effective on March 31, 2027, or two years after
approval of the requirements by the SEC, whichever occurs later. For all
other firms, the final amendments will become effective one year after the
first phase.
|
Release No. 2024-012,
Firm and Engagement Metrics
(issued November 21, 2024)
|
Auditors of public entities.
|
If the amendments are approved by the SEC, both firm-level and
engagement-level reporting will be required for periods beginning on
October 1, 2027.
|
Release No. 2024-011, Constructive
Requests to Withdraw From Registration (issued November
14, 2024, and approved by the SEC on January 2, 2025)
|
Auditors of public entities.
|
Rule 2107(h) takes effect initially for annual reports and annual fees
that are due in 2025.
|
Release No. 2024-008, Amendment to PCAOB Rule 3502
Governing Contributory Liability (issued June 12, 2024,
and approved by the SEC on August 20, 2024)
|
Auditors of public entities.
|
The amendments are effective on October 19, 2024.
|
Release No. 2024-007, Amendments Related to Aspects of
Designing and Performing Audit Procedures That Involve Technology-Assisted
Analysis of Information in Electronic Form (issued June
12, 2024, and approved by the SEC on August 20, 2024)
|
Auditors of public entities.
|
Effective for financial statement audits for fiscal years
beginning on or after December 15, 2025.
|
Release No. 2024-005, A Firm’s System of Quality Control
and Other Amendments to PCAOB Standards, Rules, and Forms
(issued May 13, 2024, and approved by the SEC on September 9, 2024)
|
Auditors of public entities.
|
The amendments are effective on December 15, 2025.
|
Release No. 2024-004, General Responsibilities of the
Auditor in Conducting an Audit and Amendments to PCAOB
Standards (issued May 13, 2024, and approved by the SEC on
August 20, 2024)
|
Auditors of public entities.
|
The amendments are effective for financial statement
audits for fiscal years beginning on or after December 15, 2025.
|
Release No. 2022-002, Planning and Supervision of Audits
Involving Other Auditors and Dividing Responsibility for the Audit With
Another Accounting Firm (issued June 21, 2022, and
approved by the SEC on August 12, 2022)
|
Auditors of public entities.
|
The amendments are effective for financial statement
audits for fiscal years ending on or after December 15, 2024.
|
GASB/GAO
GASB/GAO | Affects | Effective Date |
---|---|---|
Statement No. 104, Disclosure of Certain Capital
Assets
(issued October 17, 2024)
|
Government entities.
|
Effective for fiscal years beginning after June 15, 2025, and all reporting
periods thereafter. Earlier application is encouraged.
|
Statement No. 103, Financial Reporting
Model Improvements (issued April 24,
2024)
|
Government entities.
|
Effective for fiscal years beginning after June 15, 2025, and all
reporting periods thereafter. Earlier application is encouraged.
|
Statement No. 102, Certain Risk Disclosures (issued
January 8, 2024)
|
Government entities.
|
Effective for fiscal years beginning after June 15, 2024,
and all reporting periods thereafter. Earlier application is encouraged.
|
Statement 101, Compensated Absences (issued June 16,
2022)
|
Government entities.
|
Effective for fiscal years beginning after December 15,
2023, and all reporting periods thereafter. Earlier application is
encouraged.
|
Statement 100, Accounting Changes and Error Corrections
(issued June 13, 2022)
|
Government entities.
|
Effective for fiscal years beginning after June 15, 2023,
and all reporting periods thereafter. Earlier application is encouraged.
|
Statement 99, Omnibus 2022 (issued May 9, 2022)
|
Government entities.
|
|
Statement 94,
Public-Private and Public-Public Partnerships and Availability Payment
Arrangements (issued April 20, 2020)
|
Governmental entities.
|
Effective for fiscal years beginning after June 15, 2022,
and all reporting periods thereafter. Earlier application is encouraged.
|
FASAB
FASAB | Affects | Effective Date |
---|---|---|
Statement 61, Omnibus Amendments 2023: Lease-Related Topics
II (issued April 7, 2023)
|
U.S. federal government entities.
|
Effective for reporting periods beginning after September
30, 2023.
|
Statement 60, Omnibus Amendments 2021: Lease-Related
Topics (issued November 4, 2021)
|
U.S. federal government entities.
|
Effective for reporting periods beginning after September
30, 2023.
|
Statement 59, Accounting and Reporting of Government Land
(issued July 30, 2021) | U.S. federal government entities. |
Paragraphs 1 through 3 of this Statement are effective for
periods beginning after September 30, 2021. Earlier adoption is not permitted.
Paragraphs 6 through 12 are effective for periods beginning after September
30, 2021 through periods beginning after September 2024. Earlier adoption is
not permitted. Paragraphs 4 through 14 of this Statement are effective for
periods beginning after September 30, 2025. Earlier adoption is not
permitted.
|
Webcasts and Comment Deadlines
March 2025
Date
|
Title
|
Type
|
---|---|---|
March 26, 2025
|
Dbriefs webcast
CPE credit: Accounting
| |
March 31, 2025
|
Comments due
| |
March 31, 2025
|
Comments due
|
April 2025
Date
|
Title
|
Type
|
---|---|---|
April 22, 2025
|
Comments due
| |
April 30, 2025
|
Comments due
|
May 2025
Date
|
Title
|
Type
|
---|---|---|
May 30, 2025
|
Comments due
|
June 2025
Date
|
Title
|
Type
|
---|---|---|
June 30, 2025
|
Comments due
|