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Heads Up: FASB Proposes Amendments to Subsequent-Events Disclosure Requirements

Volume 17, Issue 1


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The attached issue of Heads Up discusses the FASB’s recently issued exposure draft of a proposed Accounting Standards Update, Subsequent Events (Topic 855): Amendments to Certain Recognition and Disclosure Requirements. The proposal would (1) exempt entities that file their financial statements with, or furnish them to, the SEC from disclosing the date through which subsequent-events procedures have been performed and (2) clarify the circumstances in which an entity’s financial statements would be considered restated and in which the entity would therefore be required to update its subsequent-events evaluation since the originally issued or available to be issued financial statements.

Read more in the file attached below or visit the Heads Up Archive for past issues.

Heads Up and other information on accounting and financial disclosure also can be found in the Technical Library: The Deloitte Accounting Research Tool. Technical Library, a subscription-based research tool, includes material from the Financial Accounting Standards Board (FASB), Emerging Issues Task Force (EITF), AICPA, Securities and Exchange Commission (SEC) and International Accounting Standards Board (IASB), in addition to our own accounting manual and interpretive accounting guidance. Updated every business day, the Technical Library has an intuitive design and navigation system. Powerful search features enable users to locate information quickly, at any time and from any computer. Additionally, Technical Library subscribers receive periodic e-mails highlighting recent additions to the Technical Library.

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