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White & Case LLP

Key Considerations for the 2024 Annual Reporting Season: Your Upcoming Form 20-F and other FPI-Specific Considerations

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This memorandum outlines key considerations from White & Case's Public Company Advisory Group for foreign private issuers ("FPIs") during the 2024 annual reporting season, divided into two sections: Form 20-F Housekeeping...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for December 2023

To provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important and interesting SEC enforcement developments from the past month, with links to primary resources....more

Ankura

Common PCAOB Inspection Findings and Actions Firms Can Take to Improve Audit Quality and Reduce the Risk of Regulatory Enforcement...

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In July 2023, the PCAOB published the spotlight, “Staff Update and Preview of 2022 Inspection Observations.” The article summarized the PCAOB's common findings from its 2022 inspection season. Many of the findings observed in...more

Cooley LLP

Are springing penalties a thing? SEC charges Plug Power with accounting, reporting and control failures

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In this Order, the SEC brought settled charges against Plug Power, Inc., a provider of green hydrogen and hydrogen-fuel-cell solutions, for financial reporting, accounting and controls failures in connection with a variety of...more

WilmerHale

SEC Chief Accountant Shines a Spotlight on ICFR and Risk Assessments

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On Friday, SEC Chief Accountant Paul Munter released a public statement in which he expressed concerns about the risk assessment process of both auditors and management. As a possible harbinger of things to come, the...more

Mintz - Securities & Capital Markets...

Time to Evaluate Your Filer Status for Next Year

For many U.S. public companies, June 30 is the end of their second fiscal quarter, which means it is time to prepare their Quarterly Reports on Form 10-Q. This also means it is time for these companies to evaluate their...more

Foley & Lardner LLP

Top Legal Issues Facing the Manufacturing Sector in 2022

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As the global economy faces the third year of the pandemic, manufacturers are no longer focused on figuring out when things will return to “normal.” Instead, they are applying lessons learned from the past few years to become...more

Vinson & Elkins LLP

Proposed SEC Climate Disclosures: An Overview of the Proposed Rule and What Companies Need to Do Now

Vinson & Elkins LLP on

On March 21, 2022, the SEC issued a Proposing Release setting out sweeping new requirements for climate change disclosures. If finalized as proposed, these climate disclosure rules would require dramatic changes to corporate...more

Foley & Lardner LLP

Securities and Exchange Commission or Securities and Environment Commission? The SEC Proposes New Rules for Climate-Related...

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On March 21, 2022, the U.S. Securities and Exchange Commission (SEC) released a comprehensive set of proposed rules mandating climate-related risk disclosures for public companies (Proposed Rule). For some the release marks...more

Mayer Brown Free Writings + Perspectives

The SEC’s Acting Chief Accountant’s Perspective

Assessing Materiality: Focusing on the Reasonable Investor When Evaluating Errors - On March 9, 2022, the Office of the Chief Accountant (“OCA”), released a statement regarding assessing the materiality of financial...more

Cooley LLP

What are the latest trends in SOX 404 reporting?

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As you probably recall, SOX 404 requires public reporting companies to disclose the effectiveness of their internal control over financial reporting. SOX 404(a) public companies to provide an assessment of ICFR by management;...more

Stinson - Corporate & Securities Law Blog

Preliminary Planning for the 2021 Proxy Season

Our preliminary list of important planning considerations for the 2021 proxy season is set forth below. Directors’ and Officers’ Questionnaires; Committee Charters - We have identified only a few possible changes to...more

Husch Blackwell LLP

A Summary Of Recent Additional SEC Guidance on Disclosure, Financial Reporting, And Accounting Practices In Light Of COVID-19

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On June 23, 2020, the Division of Corporation Finance of the U.S. Securities and Exchange Commission (SEC) further supplemented its previous guidance to assist public companies in navigating the disclosure challenges brought...more

Akin Gump Strauss Hauer & Feld LLP

OCA Statement on the Continued Importance of High-Quality Financial Reporting for Investors in Light of COVID-19

On June 23, 2020, the Office of the Chief Accountant (OCA) of the Securities and Exchange Commission (SEC) issued another statement on the importance of high-quality financial reporting in light of the impact of, and...more

Fenwick & West LLP

SEC Emphasizes Continued Importance of Financial Disclosures in Light of COVID-19

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The U.S. Securities and Exchange Commission’s Office of the Chief Accountant (OCA) and Division of Corporation Finance (Division) have separately issued statements emphasizing the continued importance of high-quality...more

Cooley LLP

Blog: SEC Chief Accountant issues statement on high-quality financial reporting in light of COVID-19

Cooley LLP on

A couple of days ago, Sagar Teotia, SEC Chief Accountant, issued a Statement on the Continued Importance of High-Quality Financial Reporting for Investors in Light of COVID-19. The Statement, issued in advance of the close...more

Winstead PC

SEC Adopts Amendments to Reduce Burdens on Smaller Issuers

Winstead PC on

On March 12, 2020, the Securities and Exchange Commission (SEC) adopted amendments to the accelerated filer and large accelerated filer definitions in Exchange Act Rule 12b-2. The SEC believes that the amendments will more...more

Eversheds Sutherland (US) LLP

SEC amends the definitions for accelerated and large accelerated filers for the benefit of SRCs and BDCs

On March 12, 2020, the Securities and Exchange Commission (SEC) adopted amendments to the accelerated filer and large accelerated filer definitions. The amendments provide a carve-out for smaller reporting companies (SRC) and...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Adopts Amendments to the Accelerated Filer and Large Accelerated Filer Definitions

On March 12, 2020, the U.S. Securities and Exchange Commission (SEC) adopted amendments to the accelerated filer and large accelerated filer definitions under Rule 12b-2 of the Exchange Act to reduce burdens and compliance...more

Sheppard Mullin Richter & Hampton LLP

SEC Amends Definitions of “Accelerated Filer” and “Large Accelerated Filer” and Provides Relief to Small Issuers from Auditor...

On March 12, 2020, the U.S. Securities and Exchange Commission (the “SEC”) adopted amendments to the definition of “accelerated filer” and “large accelerated filer” definitions in Exchange Act Rule 12b-2, which amendments...more

Foley Hoag LLP - Public Companies & the Law

SEC Amends “Accelerated Filer” and “Large Accelerated Filer” Definitions

On March 12, 2020, the SEC announced that it has adopted amendments to the “accelerated filer” and “large accelerated filer” definitions to “more appropriately tailor the types of issuers that are included in the definitions,...more

Fenwick & West LLP

SEC Reduces Burdens on Smaller Reporting Companies by Amending Accelerated Filer Definitions

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The U.S. Securities and Exchange Commission has released final rules amending the definitions for accelerated filers and large accelerated filers, providing significant relief for smaller reporting companies in the technology...more

Stinson LLP

SEC Amends Filer Definitions; Provides SOX 404(b) Relief for Certain SRCs

Stinson LLP on

The SEC has adopted amendments to the accelerated and large accelerated filer definitions to exclude smaller reporting companies with annual revenues of less than $100 million. As a result of the amendments, these smaller...more

Orrick, Herrington & Sutcliffe LLP

SEC Expands Smaller Reporting Company Relief

Internal Control Over Financial Reporting and Filing Deadlines - On March 12, 2020, the Securities and Exchange Commission adopted amendments to the definitions of “accelerated filer” and “large accelerated filer.”...more

WilmerHale

SEC Reduces ICFR Burdens for Smaller Companies

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Last week, amidst the focus on the coronavirus, the Securities and Exchange Commission made progress on its short-term rulemaking agenda by amending the definitions of “accelerated filer” and “large accelerated filer.” The...more

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