In this section, we provide brief updates from the previous quarter on regulatory developments in auditing and accounting that may impact Japanese companies in the United States. Further discussion of the issues can be found in 乐鱼（Leyu）体育官网's Department of Professional Practice's Defining Issues.
FASB exposes ASU 2018-12 transition guidance amendment
July, 2022
Amendment to long-duration contracts improvements to exclude certain contracts or legal entities sold and derecognized.
FASB seeks feedback on potential incorporation of IAS 20
June 17, 2022
The FASB has issued an Invitation to Comment on its potential incorporation of IAS 20 into US GAAP.
SEC again reopens proposal on compensation clawback policies
June 17, 2022
Comment period on 2015 proposal to implement Section 954 of Dodd-Frank Act reopened with new questions and analysis.
乐鱼（Leyu）体育官网 responds to SEC’s climate proposal
June 16, 2022
Meeting the needs of investors in a way that is practical and minimizes the costs to preparers.
(PDF)
Accounting for investments in tax credit structures
June 16, 2022
EITF reaches consensus-for-exposure on expansion of the proportional amortization method (PAM).
(PDF)
SEC adopts amendments to require electronic filing
June 10, 2022
Amendments require electronic submission of certain forms currently permitted to be filed in paper form.
SEC investment management proposals focus on ESG
May 26, 2022
Proposals target the Names Rule plus ESG disclosures by funds and investment advisers, aiming for enhanced transparency.
(PDF)
FASB proposes amendments to ASC 848 and ASC 815
April 2022
Proposals would defer sunset date for reference rate reform accounting, and amend the definition of the SOFR Swap Rate.