FASB was pretty quiet in July. It issued one exposure draft, “Investment Companies with Equity Securities Subject to Contractual Sale Restrictions,” which proposes targeted improvements to fair value determinations, but only for investment companies. FASB met twice in July: once to discuss business combinations and asset acquisitions, and once to discuss the agenda consultation on goodwill.
GASB was equally slow this month, with no exposure drafts or final standards issued. The Board held two public forums on infrastructure assets.
The ASB is scheduled to meet in August, and the ARSC is scheduled to meet in September. However, the ASB did issue SAS 150 on confirmations, which modernizes how auditors gather audit evidence.
PEEC is scheduled to meet this week and has quite an active agenda, so stay tuned for some forthcoming standards.
We continue to wait for the 2026 Compliance Supplement to be issued. Stay tuned!


