On February 14, 2023, SEC Chief Accountant Paul Munter issued a statement concerning the Financial Accounting Foundation and Financial Accounting Standards Board’s standard-setting process, which, he noted, had been reprioritized since 2021. Mr. Munter encouraged collaboration across the FAF and the FASB regarding additional process improvements needed to accomplish more timely standard setting in response to investor needs. He also emphasized that the FASB should “now execute” on its re-prioritized agenda, which includes, among seven priority topics, items such as ESG-related transactions and disclosures and digital assets.

Mr. Munter’s statement is available here.