Accounting Research Manager

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ACCOUNTING AND SEC HEADLINES:

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Insurance – FASB Discusses Technical Agenda

As reported it its “Summary of Decisions” publication, the FASB met on September 23, 2026, and discussed feedback received in response to the 2025 Invitation to Comment, Agenda Consultation, agenda requests, and other Codification improvements related to Topic 944, Financial Services—Insurance, received from stakeholders. The FASB decided not to add a project on life insurance and ceded reinsurance issues to its technical agenda and instead directed its staff to conduct additional research on those issues.

The FASB decided to consider Codification improvements related to Topic 944 as part of the Codification Improvements (Evergreen) project.

Checklists – New Editions of SEC Checklists Published

We have updated the following SEC disclosure related checklists through September 30, 2026:

• Financial Statement Disclosures This checklist outlines the required SEC disclosures for financial statements included in 1934 and 1933 Act domestic filings that are incremental to U.S. GAAP. The checklist is organized by topic.
• Management's Discussion and Analysis This checklist outlines the required SEC disclosures for MD&A included in 1934 and 1933 domestic filings, including Forms 10-K and S-1.
• Incremental Certifications, Disclosures, and Reporting Mandated by Sarbanes-Oxley This checklist outlines the certification, disclosure and reporting requirements resulting from the SEC rules mandated by the Sarbanes-Oxley Act of 2002.
• SEC Form 10-Q checklist This checklist is for financial and nonfinancial information included in Form 10-Q and is organized by form item number.

We have updated these checklists to reference the recently issued Frequently Asked Questions on the Application of the Federal Securities Laws to Certain Types of Crypto Assets and Certain Transactions Involving Crypto Assets. In addition, we have added a reference to the SEC staff’s guidance in Updated Statement Regarding the Division of Corporation Finance’s Role in the Exchange Act Rule 14a-8 Process.

Fair Value – New Edition of GAAP Update Service Published

We have published a new edition of the GAAP Update Service, Effect of Lock-ups on Fair Value. This new edition discusses FASB Accounting Standards Update No. 2026-03, Fair Value Measurement (Topic 820) – Investment Companies with Equity Securities Subject to Contractual Sale Restrictions.

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AUDITING AND INTERNAL CONTROL HEADLINES:

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Health Care Entities – New Edition of Knowledge-Based Audits of Health Care Entities Published

We have published a new edition of Knowledge-Based Audits of Health Care Entities. This publication provides practitioners with an effective approach for conducting audits of for-profit (investor-owned) and not-for-profit health care entities. This new edition provides guidance on the implementation of the standards and rules promulgated by the ASB, as well as selected best practices based on the guidance promulgated by the PCAOB and other regulators. This guide has been updated for professional standards issued through December 31, 2025, and auditing standards up to and including SAS No. 149, Special Considerations Audits of Group Financial Statements (Including the Work of Component Auditors and Audits of Referred-to Auditors). This edition also reflects the updated AICPA Guides, Analytical Procedures (updated as of November 1, 2025), and Audit Sampling (updated as of October 1, 2025).

Governmental Entities – New Edition of Knowledge-Based Audits of Governmental Entities Published

We have published a new edition of Knowledge-Based Audits of Governmental Entities. This publication is designed to help the auditor efficiently and effectively perform financial statement audits of state and local governments in accordance with auditing standards generally accepted in the United States of America and generally accepted government auditing standards. This new edition includes revisions, updates, and enhancements to reflect current literature, standards, and guidance including the provisions of the following professional standards:

• 2024 Revision of the Government Auditing Standards, commonly known as the Yellow Book or generally accepted government auditing standards (GAGAS) (effective for periods beginning on or after December 15, 2025);
• Auditing standards up to and including Statement on Auditing Standards (SAS) No. 149, Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors and Audits of Referred-to Auditors);
• Quality Management Standards through SQMS No. 3, Amendments to QM Sections 10, A Firm’s System of Quality Management, and 20, Engagement Quality Reviews;
• Governmental Accounting Standards Board (GASB) No. 102, Certain Risk Disclosures (effective for periods beginning after June 15, 2024);
• GASB No. 103, Financial Reporting Model Improvements (effective for periods beginning after June 15, 2025); and
• GASB No. 104, Disclosure of Certain Capital Assets (effective for periods beginning after June 15, 2025).

Real Estate Entities – New Edition of Knowledge-Based Preparation, Compilation, and Review Engagements of Real Estate Entities Published

We have published a new edition of Knowledge-Based Preparation, Compilation, and Review Engagements of Real Estate Entities. This toolset is designed to help the accountant efficiently and effectively perform financial statement preparation engagements, compilations, and reviews of nonpublic real estate 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 edition have been updated, where applicable, to take into account the latest literature, standards, and guidance applicable to preparation, compilation, and review engagements, including:

• Professional standards issued through March 31, 2026, including the Quality Management Standards;
• Statement on Standards for Accounting and Review Services No. 27 (SSARS-27), No. 27: Applicability of AR-C Section 70 to Financial Statements Prepared as Part of a Consulting Services Engagement; and
• the AICPA Guide Preparation, Compilation and Review Engagements.

Contractual Agreements – New Edition of GAAS Update Service Published

We have published a new edition of the GAAS Update Service, A Refresher on the Auditor’s Responsibility When Reporting on an Entity’s Compliance with Contractual Agreements or Regulatory Requirements: AU-C Section 806, “Reporting on Compliance with Aspects of Contractual Agreements or Regulatory Requirements in Connection with Audited Financial Statements.” This new edition discusses AU-C Section 806 which addresses the auditor’s responsibility to report on an entity’s compliance with certain aspects of contractual agreements or regulatory requirements in connection with an audit of financial statements, when the auditor is requested to report on such matters.

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GOVERNMENT HEADLINES:

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GASB Technical Plan – New Edition of Governmental GAAP Update Service Published

We have published a new edition of the Governmental GAAP Update Service, The Final Technical Plan for 2026 Released by GASB. This new edition provides an update of the GASB’s Technical Plan for the final third of 2026.

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