In our Q3 2025 Quarterly Financial Reporting Update, we summarize recent activities from standard-setting bodies, including FASB, SEC, and American Institute of CPAs (AICPA), and upcoming items for consideration. This edition covers the following:
FASB
- Issuance of three new accounting standards updates (ASUs), including changes to derivatives and hedging, internal-use software, and credit losses for accounts receivable and contract assets
- Updates on exposure drafts and ongoing projects, helping preparers anticipate potential changes
SEC
- Updates to the Financial Reporting Manual, reflecting recent rule changes and clarifications
- New concept releases seeking feedback on foreign private issuer criteria and asset-backed securities disclosure requirements
- Compliance and Disclosure Interpretation updates on filer status
AICPA
- Proposal of a Stablecoin Control Framework addressing emerging digital asset risks and controls
Looking ahead to the fourth quarter of 2025, we also summarize new developments on the horizon, such as upcoming ASUs on environmental credits, government grants, hedge accounting, and interim reporting, as well as offer important reminders on new legislation and effective dates for recent standards.
How Forvis Mazars Can Help
Staying current with regulatory changes is essential for accurate financial reporting and compliance, as early planning and implementation will help your organization prepare for what’s next.
Read the full article for a deeper dive into these updates and practical tips for implementation.
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For questions or support, contact a Forvis Mazars professional.