We are pleased to release MaloneBailey's April 2025 issue of The Crunch, our newsletter highlighting recent accounting, regulatory and tax updates. Please note that the updates provided in this newsletter are not a comprehensive list.

We encourage you to visit the SEC, FASB and IRS websites for more information as well as a complete list of updated rules, regulations and proposals. We invite you to contact us should you have any questions about the information provided in this issue. Please visit our website to review archived versions of this newsletter containing past accounting, regulatory and tax updates.

The MaloneBailey Team

www.malonebailey.com

What's the Crunch?



Featured Podcast

• Intangibles-Goodwill and Other Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets with Mariano & Carolina

Recent Accounting & Regulatory Updates



Recent FASB & AICPA Updates

• Digital Assets – AICPA Publishes New Edition of Practice Aid
• Property and Liability Insurance – AICPA Publishes New Edition of Audit and Accounting Guide
• Special Considerations in Auditing Financial Instruments – AICPA Publishes New Edition of Audit and Accounting Guide
• IFRS for SMEs – IASB Staff Publishes IFRS for SMEs Accounting Standard Update

Recent SEC & PCAOB Updates

• Shareholder Proposals – SEC Staff Publishes Guidance on Shareholder Proposals
• Capital Formation – SEC Staff Announces Capital Formation Accommodations
• SEC Guidance – SEC Staff Updates Compliance and Disclosure Interpretations

Extra Crunch

• PCAOB Spotlight: Staff Priorities for 2025 Inspections and Interactions With Audit Committees

MaloneBailey News

• Rankings: HBJ Top Accounting Firms List + Accounting Today Regional Leaders List

Intangibles-Goodwill and Other Crypto Assets (Subtopic 350-60): Accounting for and Disclosure of Crypto Assets

Summary - In this episode of Everybody Counts, Carolina Uzcategui and Mariano Frugone, CPA, Audit Partner, discuss Intangibles-Goodwill which requires fair value measurement and disclosures for crypto assets.



Simply click on the image below to listen to the podcast. For this podcast and many more, please visit the Resources section of our website.

Digital Assets – AICPA Publishes New Edition of Practice Aid

Summary - The AICPA has published a new edition of its Practice Aid, Accounting for and Auditing of Digital Assets. The objective of this practice aid is to develop nonauthoritative guidance on how to account for and audit digital assets under U.S. generally accepted accounting principles (GAAP) and generally accepted auditing standards (GAAS), respectively. This guidance is intended for financial statement preparers and auditors with a fundamental knowledge of blockchain technology.

For more information, click here.

© 2025 CCH Incorporated and/or its affiliates. All rights reserved. Used with permission.

Property and Liability Insurance – AICPA Publishes New Edition of Audit and Accounting Guide

Summary - The AICPA has published a new edition of its Audit and Accounting Guide, Property and Liability Insurance Entities. This guide has been developed by the AICPA Property and Liability Insurance Guide Task Force to assist practitioners in performing and reporting on their audit engagements, and to assist management of property and liability insurance entities in preparing financial statements in conformity with U.S. generally accepted accounting principles (GAAP) and statutory accounting principles (SAP).

This edition of the guide has been revised by AICPA staff to include certain changes necessary due to the issuance of authoritative guidance since the guide was originally issued and other revisions as deemed appropriate. Relevant guidance issued through October 1, 2024, has been considered in the development of this edition of the guide.

For more information, click here.

© 2025 CCH Incorporated and/or its affiliates. All rights reserved. Used with permission.

Special Considerations in Auditing Financial Instruments – AICPA Publishes New Edition of Audit and Accounting Guide

Summary - This AICPA guide has been developed by the AICPA publications team to assist practitioners in performing and reporting on their audit engagements. This edition of the guide has been revised by AICPA staff to include certain changes necessary due to the issuance of authoritative guidance since the guide was originally issued, and other revisions as deemed appropriate. Relevant guidance issued through January 1, 2025, has been considered in the development of this edition of the guide.

For more information, click here.

© 2025 CCH Incorporated and/or its affiliates. All rights reserved. Used with permission.

IFRS for SMEs – IASB Staff Publishes IFRS for SMEs Accounting Standard Update

Summary - The staff of the IASB has published the IFRS for SMEs Accounting Standard Update. This update is a staff summary of news, events, and other information about the IFRS for SMEs® Accounting Standard and related SME activities. This new edition includes an:

• Update on the IASB’s redeliberations of proposals in the Exposure Draft, Third edition of the IFRS for SMEs Accounting Standard;
• Overview of the second comprehensive review of the IFRS for SMEs Accounting Standard (the Standard); and
• Overview of the revised Section 23, Revenue from Contracts with Customers, in the third edition of the Standard.

For more information, click here.

© 2025 CCH Incorporated and/or its affiliates. All rights reserved. Used with permission.

Shareholder Proposals – SEC Staff Publishes Guidance on Shareholder Proposals

Summary - The staff in the SEC’s Division of Corporation Finance (Corp Fin) has published Staff Legal Bulletin No. 14M (CF), Shareholder Proposals. This staff legal bulletin provides information for companies and shareholders regarding Rule 14a-8 under the Securities Exchange Act of 1934. Rule 14a-8 addresses when a company must include a shareholder's proposal in its proxy statement and identify the proposal in its form of proxy when the company holds an annual or special meeting of shareholders.

This bulletin is intended to clarify Corp Fin’s views on the scope and application of Rule 14a-8(i)(5) and Rule 14a-8(i)(7). In addition, this bulletin addresses certain other aspects of Rule 14a-8 and provides responses to questions that may arise in light of the timing and content of this bulletin.

For more information, click here.

© 2025 CCH Incorporated and/or its affiliates. All rights reserved. Used with permission.

Capital Formation – SEC Staff Announces Capital Formation Accommodations

Summary - The staff in the SEC’s Division of Corporation Finance (Corp Fin) announced that it is further facilitating capital formation by enhancing the accommodations available to companies for nonpublic review of draft registration statements.

In 2012, the JOBS Act permitted certain companies to confidentially submit for SEC staff review a draft registration statement for an initial public offering. In 2017, the SEC staff expanded these accommodations to all companies conducting certain securities offerings, including initial public offerings and follow-on offerings within one year of their initial public offering. With today’s announcement, the accommodations for companies submitting draft registration statements for nonpublic review will be further enhanced.

The enhanced accommodations will expand the types of forms eligible to be submitted as draft registration statements for nonpublic review and permit reporting companies to submit draft registration statements for nonpublic review regardless of how much time has passed since their initial public offering. In addition, companies will have added flexibility to start the review process earlier by omitting certain underwriter disclosures from their initial submissions.

For more information, click here.

© 2025 CCH Incorporated and/or its affiliates. All rights reserved. Used with permission.

SEC Guidance – SEC Staff Updates Compliance and Disclosure Interpretations

Summary - The staff in the SEC’s Division of Corporation Finance (Corp Fin) has published new edition of the following Compliance and Disclosure Interpretations (CDIs):

• Securities Act Sections (revised Question 239.13);
• Securities Act Forms (revised Question 225.10); and
• Tender Offer Rules and Schedules (new Questions 101.17-101.21).

These CDIs have been updated to provide guidance from Corp Fin on tender offer related items and lock-up agreements.

For more information, click here.

© 2025 CCH Incorporated and/or its affiliates. All rights reserved. Used with permission.

PCAOB Spotlight

Summary - The PCAOB Spotlight outlines staff priorities for 2025 inspections, emphasizing audit quality improvements, key risks, and suggested questions for audit committees to enhance oversight and communication.

To access the report, please click here.

Rankings: HBJ Top Accounting Firms + Accounting Today Regional Leaders List

MaloneBailey is pleased to announce that it has been recognized by Accounting Today and placed on its annual Regional Leaders list for the Southwest Region, consisting of Arizona, New Mexico, Oklahoma, and Texas, published in March 2025. This year, MaloneBailey placed Number 10 on its list, growth from last year where the firm placed Number 12. Additionally, MaloneBailey is pleased to announce it ranked again on the Houston Business Journal's List of Top Accounting Firms in Houston published in March 2025.

For more information, please visit www.malonebailey.com.