85: A&A Update with Brad Muniz – 10/5/21

Our latest 10-minute accounting and auditing update provides a speed round on various FASB, AICPA, CAQ and PCAOB updates:FASB ASU 2021-06 - https://www.fasb.org/cs/Satellite?c=Document_C&cid=1176177037677&pagename=FASB%2FDocument_C%2FDocumentPageFASB Disclosure of Supplier Finance Program Obligations - https://www.fasb.org/jsp/FASB/FASBContent_C/ProjectUpdateExpandPage&cid=1176175475663FASB Exposure Draft: Fair Value Measurement of Equity Securities Subject to Contractual Sale - https://www.fasb.org/jsp/FASB/Document_C/DocumentPage?cid=1176177297732&acceptedDisclaimer=trueAICPA SAS 134 – Auditor Reporting and Amendments - https://www.aicpa.org/content/dam/aicpa/research/standards/auditattest/downloadabledocuments/sas-134.pdfCAQ – How Climate-Related Risk Considerations Intersect with the Audited Financial Statements - https://www.thecaq.org/news/center-for-audit-quality-resource-highlights-how-climate-related-risk-considerations-intersect-with-the-audited-financial-statements/AICPA Exposure Draft: Unpaid Fees - https://www.aicpa.org/content/dam/aicpa/interestareas/professionalethics/community/exposuredrafts/downloadabledocuments/2021/2021-September-unpaid-fees.pdfAICPA Exposure Draft: Accounting Standards Implementation Services - https://www.aicpa.org/content/dam/aicpa/interestareas/professionalethics/community/exposuredrafts/downloadabledocuments/2021/2021-september-accounting-standards-implementation.pdfPCAOB Solicits Additional Public Comment on Proposed New Requirements for Lead Auditor’s Use of Other Auditors - https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-solicits-additional-public-comment-on-proposed-new-requirements-for-lead-auditor-s-use-of-other-auditorsPCAOB Adopts Rule to Create Framework for HFCAA Determinations - https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-adopts-rule-to-create-framework-for-hfcaa-determinationsU.S. Department of Labor to assess employee benefit plan audits - https://www.njcpa.org/article/2021/09/14/dol-to-conduct-audit-quality-assessment-of-2020-plan-year-filings Additional resources:AICPA Ethically Speaking Podcast - https://www.aicpa.org/interestareas/professionalethics/ethically-speaking.htmlOct. 6 Webinar: What CPAs Need to Know About ESG – https://njcpa.org/plusESG Knowledge Hub – https://njcpa.org/hub/esgJoin the NJCPA Accounting & Auditing Interest Group – https://njcpa.org/groups