May 2026 Newsletter
May was a busy month in standard setting. FASB covered a wide range of topics, including CECL, intangibles, the equity method, nonrefundable tax credits, mortgage servicing rights, and environmental credits. GASB continued its work on revenue and expense recognition, along with going concern uncertainties and severe financial stress. Meanwhile, the AICPA’s major standard-setting committees were also active, including ASB approval of SAS 150 on external confirmations. And yes, we are still not so patiently waiting for the 2026 Compliance Supplement.







