2026 standard setting was off to a slow start. The FASB met twice in January to discuss the application of Topic 715 to market-return cash balance plans, consolidation for business entities and asset retirement obligations. They issued no exposure drafts or final ASUs, and there are currently no documents open for public comment. Let’s all be grateful for a slower start to 2026!
The GASB had limited activity in January following the issuance of Statement No. 105, Subsequent Events, in December. No Board meetings were held during the month. The GASB is scheduled to reconvene for its next meetings on February 10–11.
The ASB met this week to review confirmations, fraud, and the attestation standards. We expect quick movement on the attestation standards, with confirmations not too far behind. So stay tuned for next steps!
PEEC voted on December 19 to issue an exposure draft (ED) of Proposed Revisions Related to Alternative Practice Structures, which proposes updated guidance on independence and private equity investments. The ED, informed by feedback from an earlier discussion memorandum, will be open for public comment through April 30.
Does anyone want to take a guess at whether 2026 will be a busy year or a slow year overall?
