US update: April 2020

FASB

This month we report on three developments in the US regulatory regime. First, the Board of Trustees of the Financial Accounting Foundation (FAF) has appointed John W Auchincloss as the executive director of the Foundation which oversees the work of the Board. Mr Auchincloss has been working for the FAF since May 2016, and his appointment as its executive director is effective immediately. That apart, the FASB has issued some changes to its standards resulting from its ongoing work to simplify its requirements. Last, but by no means least, the FASB has made an announcement about how it will deal with accounting issues arising from the coronavirus.