We’ll be attending this year’s 2017 Financial Executives International’s 36th Annual Current Financial Reporting Issues Conference in New York City on Nov. 13-14. As our first sponsorship of an FEI conference, we’re really looking forward to engaging with all the attendees and showcasing our new technology that just won us accolades as a top 100 most innovative RegTech company in the world.
The Financial Accounting Standards Board (FASB) has been working through a project on materiality for the past year-and-a-half, because up to now, there has been no explicit U.S. GAAP accounting standard for the accounting of government assistance.
Materiality is integral to Topic 832, Accounting Standards Update, Government Assistance in terms of defining a threshold for which government incentives will ultimately have to be disclosed.
With every new president, there always comes some uncertainty to how the new regime will affect policy. However, with the presidential inauguration of Donald Trump now behind us, there is a heightened level of anticipation for what might happen in the coming months. Even without the wildcard that is President Trump, a Republican controlled House and Senate will ensure that many changes will be coming that will greatly impact compliance in regulated industries in 2017.