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ARTICLE · 22 FEBRUARY 2023

SEC Accounting Standard Setting Statement

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The SEC's Chief Accountant Paul Munter, released a statement "Accounting Standard Setting in a Rapidly Evolving Business Environment: A Focus on the Timely Delivery of Investor Priorities,"...

United StatesAccounting and Audit
Nicole Veru
Nicole Veru
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The SEC's Chief Accountant Paul Munter, released a statement "Accounting Standard Setting in a Rapidly Evolving Business Environment: A Focus on the Timely Delivery of Investor Priorities," discussing improvements to Financial Accounting Foundation ("FAF") and the Financial Accounting Standards Board ("FASB") accounting standards and standard-setting processes since the SEC's statement last year.

Since last year, the FASB agendas have been reprioritized to focus on investor and stakeholder priorities. These reprioritizations have resulted from the 2021 FASB Agenda Consultation Report, which identified the top priority topics identified by investors: (1) Disaggregation of Financial Reporting Information; (2) Improvements to the Statement of Cash Flows; (3) Environmental, Social, and Governance ("ESG")-Related Transactions and Disclosures; (4) Intangible Assets; (5) Financial Key Performance Indicators and Non-GAAP Metrics; (6) Digital Assets; and (7) Enhanced

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