Accounting Research Manager
Weekly Summary of Accounting, SEC and Auditing Developments: November 3-7, 2025
The accounting updates below are provided courtesy of Accounting Research Manager, a subscription service that provides a timely and comprehensive online database of analytical accounting, auditing, and SEC information and authoritative literature. KnowledgeLeader members are eligible to receive a 15% discount if they would like to subscribe to Accounting Research Manager. Experience the full database by requesting a free CCH Accounting Research Manager trial.
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ACCOUNTING AND SEC HEADLINES:
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Digital Assets – FASB Adds Project to Agenda on Classification of Certain Digital Assets as Cash Equivalents
As reported in its “Summary of Decisions” publication, the FASB met on October 29, 2025, and decided to add a project to its technical agenda to clarify whether certain digital assets may be classified as cash equivalents.
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AUDITING AND INTERNAL CONTROL HEADLINES:
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Construction Contractors – 2025-2026 Edition of Knowledge-Based Preparation, Compilation, and Review Engagements of Construction Contractors and Related Entities Published
We have published the 2025-2026 edition of Knowledge-Based Preparation, Compilation, and Review Engagements of Construction Contractors and Related Entities. This toolset is designed to help the accountant efficiently and effectively perform financial statement preparation engagements, compilations, and reviews of nonpublic construction contractors and related entities in accordance with Statements on Standards for Accounting and Review Services (SSARS) issued by the Accounting and Review Services Committee (ARSC) of the American Institute of Certified Public Accountants (AICPA).
The tools in this new edition have been updated, where applicable, to take into account the latest literature, standards, and guidelines applicable to preparation, compilation, and review engagements, including:
- Professional Standards issued through December 31, 2024;
- Statement on Standards for Accounting and Review Services No. 26 (SSARS-26), Quality Management for an Engagement Conducted in Accordance with Statements on Standards for Accounting and Review Services; issued in 2022, and the AICPA Guide Preparation, Compilation and Review Engagements;
- Statement on Quality Management Standards No. 1 (SQMS-1), A Firm's System of Quality Management; and
- Statement on Quality Management Standards No. 2 (SQMS-2), Engagement Quality Reviews.
Independence and Ethics – 2025 Edition of CPAs Guide to Independence and Ethics Published
We have published the 2025 edition of CCH’s CPAs Guide to Independence and Ethics. This publication addresses the ethical and professional obligations placed on accountants who serve the general public. This new edition incorporates codes, rulings, guidance, and commentary current through September 30, 2025, and offers an interpretive approach to understanding the ethical and professional responsibilities imposed on all types of accounting and auditing professionals, including the firms for whom they may work. In addition to providing guidance on code of conduct principles, rules and interpretations, this publication provides the practitioner with interpretive guidance and application material through the use of practical examples and commentary, where appropriate.
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ACCOUNTING RESEARCH MANAGER CUSTOMER SERVICE:
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