Software Accounting - In September 2025, the FASB issued ASU 2025-06, "Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal -Use Software" which amends certain aspects of the accounting for and disclosure of software costs under ASC 350-40.

Software Accounting - In October, 2024, FASB proposed an update to the existing internal-use software guidance that aims to modernize the accounting standards to (1) better reflect current software development practices, such as the shift from sequential to incremental and iterative methods, and (2) enhance the transparency of cash flows related to internal-use software costs. Feedback on the proposal is due by January 27, 2025.

Climate Change - In August 2024, a group of state treasurers and auditors has sent a preemptive letter to FASB, urging it to reject any potential proposals to include climate-related reporting standards in U.S. GAAP. In the letter, more than two dozen state treasurers and auditors expressed strong concerns about the potential inclusion of sustainability or greenhouse gas (GHG) emissions reporting standards in GAAP. They argue that such rules would be inconsistent with core GAAP principles, such as materiality, sincerity, and prudence. O

Software Accounting - In June 2024, FASB announced that it will discuss results of staff research on targeted improvements to Subtopic 350-40, Intangibles—Goodwill and Other—Internal-Use Software, and software cost disclosures, as well as consequential amendments, transition, benefits and costs, and whether to proceed to drafting a proposed Accounting Standards Update for vote by written ballot.

Climate Rules - In March 2024, the SEC issued a final rule that requires registrants to provide comprehensive climate risk disclosures in their annual reports and registration statements, including the disclosure of climate-related financial metrics, as well as their impacts on financial estimates and assumptions.

Crypto Assets - In December 2023, FASB issued ASU 2023-08 Intangibles—Goodwill and Other—Crypto Assets (Subtopic 350-60). The final guidance requires all entities to measure certain crypto assets they hold at fair value and reflect the changes in fair value in net income each reporting period. Entities should present crypto assets at fair value separately from other intangible assets on their balance sheets and present changes in the fair value of crypto assets apart from changes in the carrying amounts of other intangible assets in their income statements.

Cybersecurity - In July 2023, SEC issued its final rule to increase registrants’ cybersecurity disclosure requirements. SEC Release No. 33-11216, Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure (rule or promulgation) applies to all public business entities subject to the Securities Exchange Act of 1934, including foreign filers (except Canadian foreign private issuers that file Form 30-F and asset-backed securities issuers).

Share Repurchase Programs - In November 2023, SEC issued an order postponing the effective date of the Share Repurchase Disclosure Modernization rule (the “Repurchase Rule”), which became effective on July 31, 2023. As a result, the Repurchase Rule is stayed pending further SEC action, and issuers will not need to comply with the Repurchase Rule until the SEC takes further action with respect to the rule.

Joint Venture Formations - In March 2023, FASB  will discuss comment letter feedback and issues for redeliberations on the proposed Accounting Standards Update, Business Combinations—Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement. The Board also will discuss whether to proceed to drafting a final Accounting Standards Update for vote by written ballot.

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