The Financial Accounting Standards Board announced that James Kroeker, former chief accountant at the Securities and Exchange Commission, will be the board's new vice chairman. After leaving the SEC in 2012, Kroeker was deputy managing partner at Deloitte & Touche. His five-year term will begin Sept. 1.
Revenue recognition, loss contingencies and fair-value measurements are among the issues receiving special attention from the Securities and Exchange Commission's Division of Corporation Finance this year, according to a report from Deloitte & Touche. The report offers a rundown of thousands of letters sent by the agency, which Deloitte says can be used to improve companies' financial reporting. Other areas of focus include merger valuations, non-GAAP accounting and management discussions.