On January 30, 2023, CorpFin announced an update to the Financial Reporting Manual (FRM).  Updated information includes:

• • The phone number for contacting CorpFin Office of the Chief Accountant staff;
  • A link to a new online submission for financial statement waiver or substitution requests;
  • Guidance for financial disclosures about guarantors and related matters – S-X Rules 3-10 and 3-16, as amended; and
  • Guidance related to the implementation of ASU 2018-12, Financial Services – Insurance (Topic 944): Targeted Improvements to the Accounting for Long-Duration Contracts.

The update also removed information that is no longer applicable.

Still awaiting updates are sections addressing:

• • Disclosures about acquired and disposed businesses,
  • Qualifications of accountants, and
  • Management’s discussion and analysis.

You can read more about this update and find the FRM here.

As always, your thoughts and comments are welcome!