For finance professionals, the regulatory and technology landscape continues to shift quickly. Recent developments from the SEC and FASB, along with changes involving tariff refunds and AI adoption, are creating both immediate demands and longer-term considerations. Here are five areas worth watching that we noted in our recent webinar, “Quarterly Perspectives Q3 2026: Financial Reporting & Beyond.” We have included some significant observations from our polling questions as well.
Looking Back: SEC & FASB Activity Accelerates
The SEC is expected to act in the first quarter of 2027 on its proposal that would allow public companies to opt into semiannual rather than quarterly reporting. While the proposal generated well over 200,000 comment letters, analyses have identified only slightly more than 130 as “meaningful” comments. Those responses were much more balanced than the overall volume of overwhelmingly negative comments might suggest.
FASB also has a busy agenda. Seven exposure drafts are expected in the coming quarter, covering topics including commodities, crypto asset transfers, consideration payable to a customer under ASC 606, equity method accounting, and debt and equity issues. For finance professionals, timing could be particularly challenging if comment periods extend into the busy January-to-April season. (Note that since the date of this webinar, FASB has already released three additional exposure drafts for public comment.)
DISE: Treat Adoption as a Data Project
FASB’s Disaggregation of Income Statement Expenses (DISE) standard, ASU 2024-03, may be disclosure-focused, but implementation is fundamentally a data project.
For calendar-year public business entities, the data needed for the first annual disclosures begins accumulating January 1, 2027. Implementation can require tracing five specific natural expense categories across systems, business units and, potentially, multiple enterprise resource planning (ERP) systems, identifying which income statement captions they appear in, and then preparing to disaggregate those relevant expense captions in the footnotes.
The urgency is significant: 79% of webinar attendees whose companies are affected by DISE said they had not yet started their adoption efforts.
Has your company started its efforts to adopt FASB’s DISE?
Companies should expect involvement across finance, IT, and internal audit among other functions. Waiting until preparation of the 2027 Form 10-K would almost certainly be too late, particularly for organizations with complex systems or acquisition histories. We have other readiness considerations for you in this article.
Tariffs: Refunds Bring Accounting Questions
The IEEPA tariff refund process is moving rapidly. As of early October 2026, approximately $166 billion in IEEPA tariffs had been paid back, with phases one and two expected to address roughly 93% of the total. Phase three involves additional court considerations.
Refunds also create questions beyond recovering cash. Companies should evaluate whether customary practices, published policies, or specific statements create obligations to pass the refunds on to its customers under ASC 606. Given the legal issues surrounding these arrangements, companies may need legal advice when evaluating their obligations. We offered an update on tariffs on a recent episode of Tackling Tax.
AI: Progress Starts With the Business Problem
For organizations worried they are behind on AI, the message is reassuring: being in the middle of the journey is not behind. In fact, many organizations are still establishing governance, prioritizing use cases, and running initial pilots. Start with a business problem, then decide whether AI is the right tool.
With that said, risk remains prominent. 34% of webinar attendees identified AI risk and governance as their biggest adoption challenge.
What’s the biggest challenge your organization is currently facing with adopting AI?
Rather than asking where AI can be deployed, organizations should begin with a business problem that could potentially be addressed using AI. For example, a company may identify a business process that frequently involves repetitive work, delays, errors, or inefficient information gathering, then determine whether AI is the appropriate solution. Practical applications include document review, information extraction, first-draft content, internal knowledge search, and workflow support.
Looking Ahead: Keep Crypto in Focus
Crypto remains an area to watch. FASB has one exposure draft outstanding and another expected in the fourth quarter, while the SEC has several proposed rules addressing market participants and offerings pending.
The broader message for finance leaders is that preparation matters more than prediction. Whether assessing DISE data, tariff implications, AI governance, or emerging crypto requirements, organizations that begin addressing the underlying processes now may be better positioned as requirements evolve.
How Forvis Mazars Can Help
Evolving accounting standards and regulatory developments continue to shape financial reporting requirements. Early planning and implementation can help organizations navigate change with confidence and prepare for what’s next.
Register for our Q4 webinar in January for a high-level discussion of key accounting and regulatory developments from the quarter.