This update provides an overview of the most significant pronouncements, standards and advisories that have resulted from actions of regulatory bodies. We focus on the most significant issues that impacted the economy, accounting and auditing profession in Q1 of 2023 as well as trending areas important to the accounting profession.

Q1 2023 has come to a close and has seen:

• The Consumer Price Index for All Urban Consumers over the last 12 months, the all items index increased 5.0 percent before seasonal adjustment.
• Political unrest continues its instability.
• Bank failures of impacted businesses and strategies.
• National border issues threaten health and safety of U.S. citizens.
• Food prices and supply chain issues still exist.

Note: Information for this presentation is taken from leading practice publications and does not reflect the opinion of Illumeo or the speaker.