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Catch-up on Past Issues
December 2025 Newsletter
In November, the standard-setting world stayed busy: the FAF announced new trustees and appointed Catherine Shakespeare to the FASB, which also issued two final ASUs and held multiple meetings on topics from equity method updates to digital assets. GASB advanced its Revenue and Expense Recognition project with decisions on non-monetary consideration and valuation of donated assets. The Auditing Standards Board met to refine its strategy, while PEEC tackled a wide slate of ethics topics, including alternative practice structures, AI, and group audits. Meanwhile, HHS issued its updates to Uniform Guidance, and OMB finally released the 2025 Compliance Supplement—so far showing no material changes from the draft.
November 2025 Newsletter
In November, the standard-setting world stayed busy: the FAF announced new trustees and appointed Catherine Shakespeare to the FASB, which also issued two final ASUs and held multiple meetings on topics from equity method updates to digital assets. GASB advanced its Revenue and Expense Recognition project with decisions on non-monetary consideration and valuation of donated assets. The Auditing Standards Board met to refine its strategy, while PEEC tackled a wide slate of ethics topics, including alternative practice structures, AI, and group audits. Meanwhile, HHS issued its updates to Uniform Guidance, and OMB finally released the 2025 Compliance Supplement—so far showing no material changes from the draft.
October 2025 Newsletter
Happy Halloween! This month, the FASB met four times, covering topics from not-for-profits and leases to digital assets, with no proposals currently out for comment but six ASUs expected by year-end. GASB and GASAC discussed revenue recognition, infrastructure reporting, and emerging issues like environmental credits, while the FAF introduced new leadership and educational initiatives. The ASB will meet next week on confirmations, sustainability attestation, and its 2026–2030 plan; the ARSC met October 30 on AT-C Section 210. PEEC issued no new guidance but meets November 4–5, and the 2025 Compliance Supplement remains delayed due to the government shutdown.




