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 Q2 2023 as well as trending areas important to the accounting profession.

These updates are provided by Illumeo as a benefit to professionals to help understand some of the most prevalent issues that may need to be focused on in the coming months.

2023 continues to be a challenging year from both a business and economic outlook.

  • Inflation continues to rise
  • Cost of living has escalated
  • Political unrest continues its instability
  • National border issues threaten health and safety of U.S. citizens
  • Food prices and supply chain issues still exist
  • Supreme Court rulings are testing voters

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

Learning Objectives
  • Explore and overview of the status of the economy as early July 2023.
  • Discover and examine FASB Q2 activities.
  • Explore and examine IASB Q2 Activities.
  • Identify and examine SEC Q2 activities.
  • Discover and examine PCAOB Q2 activities.
  • Explore and examine actions of AICPA, COSO, and IIA.
Last updated/reviewed: August 24, 2023
3 Reviews (16 ratings)


Anonymous Author
This course was helpful update course. I wish there were a few more descriptions of the items being changed or updated. Not all of us audit international companies. Pillar Two is an example.

Anonymous Author
I don't deal with a lot of these issues so I felt a little out of touch on these topics but Lynn is very good at hitting the high points and keeping it concise.

Anonymous Author
Course covered a lot of material in a short amount of time. Instructor was good.

Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
  Introduction to Q2 2023 Technical Accounting and Economic Update4:42
  Economic Overview7:30
  Updates FASB12:16
  Updates IASB15:40
  SEC Updates3:26
  The Institute of Internal Auditors6:52
  Summary and Appendix1:04
  Q2 2023 Technical Accounting and Economic Update51:30
  Slides: Q2 2023 Technical Accounting and Economic UpdatePDF
  Q2 2023 Technical Accounting and Economic Update Glossary/IndexPDF