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What’s Keeping CFOs up at Night in 2014
Top of the Agenda: Sustainable Growth in a Wired World
Over the next year, the major standards setters and regulatory agencies are expected to finish what they started, adding in no small way to what will be keeping CFOs up at night for 2014.
1. The Usual Suspects
For many public company CFOs in America, this means that conflict minerals disclosure will be top of mind until their first reports are filed with the US Securities and Exchange Commission (SEC) in May. Similarly, final proposals (and perhaps legislation) for the treatment of conflict minerals disclosure are expected to emerge from the European Commission, and potentially Canada, in the coming months.
Also in 2014, it is anticipated that four major memorandum of understanding projects of the IASB and FASB (leases, revenue recognition, financial instruments, and insurance contracts) will come to a close, harmonizing these standards between IFRS and US GAAP. To this end, final standards and new exposure drafts will be issued, and CFOs are encouraged to review the implications of changes to standards as soon as possible.
In addition to emerging standards in 2014, CFOs can also look for the release of further proposals around how ratings agencies are selected in America, with the pot...