Worldwide: Accounting Standards

Value chain decarbonization intervention, also referred to as "carbon insetting," is emerging as an important element of corporate climate strategies—and a potentially valuable opportunity for carbon reduction...

In a recent 44-page ruling, the Interior Board of Land Appeals vacated in full, without remand, an Order to Perform Restructured Accounting and Pay issued by the Office of Natural Resources Revenue (ONRR) that would have required an offshore operator to recalculate and repay more than $20 million.

On June 9, 2025, the IRS released Rev. Proc. 2025-23, which updates the list of accounting method changes — previously in Rev. Proc. 2024-23 — that qualify for the automatic change procedures under Rev. Proc. 2015-13.