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In the Marketplace
The Financial Accounting Standards Board and International Accounting Standards Board in London have agreed to undertake a joint project designed to overhaul FAS 13, the lease accounting rules in place since 1976. The decision to add a leasing project reflects the FASB's concern that the current accounting in this area does not clearly portray the resources and obligations arising from lease transactions.
Before making this decision, the FASB consulted with its constituents, including the FASB's Financial Account-ing Standards Advisory Council ('FASAC'), its User Advisory Council ('UAC'), and the SEC staff. Many of those constituents urged the FASB to undertake a project, expressing the view that current lease accounting standards fail to provide complete and transparent information. In fact, the SEC staff formally raised issues with, and recommended improvements to, this area as part of its June 2005 report to Congress on off-balance sheet arrangements as required by the Sarbanes-Oxley Act of 2002.
New York's Latest Cybersecurity Commitment
On Aug. 9, 2023, Gov. Kathy Hochul introduced New York's inaugural comprehensive cybersecurity strategy. In sum, the plan aims to update government networks, bolster county-level digital defenses, and regulate critical infrastructure.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
How AI Has Affected PR
When we consider how the use of AI affects legal PR and communications, we have to look at it as an industrywide global phenomenon. A recent online conference provided an overview of the latest AI trends in public relations, and specifically, the impact of AI on communications. Here are some of the key points and takeaways from several of the speakers, who provided current best practices, tips, concerns and case studies.
CLE Shouldn't Be the Only Mandatory Training for Attorneys
Each stage of an attorney's career offers opportunities for a curriculum that addresses both the individual's and the firm's need to drive success.