Among the insights shared at last week’s 2019 AICPA Conference on SEC and PCAOB Developments, held December 9–11, Sagar Teotia, recently appointed Chief Accountant of the Securities and Exchange Commission, delivered a...more
On Friday, the Securities and Exchange Commission’s Division of Corporation Finance announced big changes in the internal structure of its disclosure program. While not a regular occurrence, such reorganizations happen...more
Following a 3-2 vote last week, the Securities and Exchange Commission has released two pieces of guidance related to the proxy voting process:
..Commission Guidance Regarding Proxy Voting Responsibilities of Investment...more
Earlier this month, the Public Company Accounting Oversight Board released additional resources regarding its new Critical Audit Matters (CAMs) disclosure requirement, with the latest resources targeted to audit committees...more
In response to audit firm requests for guidance and a number of deficiencies identified during the Public Company Accounting Oversight Board’s audit firm inspections process, the PCAOB has recently released new Staff Guidance...more
Yesterday, the Securities and Exchange Commission announced that Wesley R. Bricker, the SEC’s Chief Accountant, will leave the SEC in June. Mr. Bricker has spent more than six years at the SEC, serving as Chief Accountant...more
Always a fertile source of regulatory perspective, this year’s Baruch College Financial Reporting Conference featured a future-oriented theme in remarks by Chief Accountant of the Securities and Exchange Commission Wesley...more
5/15/2019
/ Accounting Standards ,
Audit Committee ,
Corporate Governance ,
Cybersecurity ,
FASB ,
Financial Reporting ,
ICFR ,
Independent Audits ,
Internal Controls ,
PCAOB ,
Professional Conferences ,
Publicly-Traded Companies ,
Regulatory Standards ,
Securities and Exchange Commission (SEC)
Yesterday, the Public Company Accounting Oversight Board hosted the first of three opportunities for auditors to attend a webinar on the implementation of the upcoming critical audit matters (CAMs) disclosure requirement. The...more
Earlier this week, the Securities and Exchange Commission announced that it had settled charges against four public companies for failing to maintain internal control over financial reporting (ICFR) over the course of seven...more
Capping off a busy year, the annual American Institute of Certified Public Accountants Conference on Current SEC and PCAOB Developments, held on December 10-12, 2018, revisited many familiar themes from prior years and...more
1/3/2019
/ Accountants ,
Accounting Standards ,
AICPA ,
Audit Committee ,
Audits ,
CPAs ,
Financial Reporting ,
GAAP ,
ICFR ,
IOSCO ,
PCAOB ,
Securities and Exchange Commission (SEC)
Last week, PCAOB Chairman William Duhnke delivered a keynote speech at the American Law Institute’s Accountants’ Liability 2018 Conference in Washington DC, in which he described recent efforts and future plans for the PCAOB...more
Yesterday, the Securities and Exchange Commission released an investigative report regarding its investigation into whether nine public companies that were victims of cyber-related frauds violated federal securities laws by...more
On Friday, the Securities and Exchange Commission announced that it had settled enforcement actions against five companies for violating the Regulation S-X requirement that interim financial statements included in quarterly...more
Last week, the Securities and Exchange Commission voted to amend disclosure requirements “that have become redundant, duplicative, overlapping, outdated, or superseded, in light of other Commission disclosure requirements,...more
In a speech delivered at last week’s 2018 Baruch College Financial Reporting Conference, SEC Chief Accountant Wes Bricker discussed objectives of financial reporting and its importance to the markets. Mr. Bricker revisited...more
While the frequency of SEC comments on companies’ disclosure of non-GAAP measures has subsided, it remains important for audit committees to ensure their companies’ disclosures comply with applicable non-GAAP disclosure...more
On February 21, 2018, the Securities and Exchange Commission (SEC) approved an interpretive release updating guidance on public company disclosure and other obligations concerning cybersecurity matters. The interpretive...more
Earlier this month, SEC Division of Corporation Finance Director William Hinman delivered the keynote address at the Practising Law Institute’s Seventeenth Annual Institute on Securities Regulation in Europe. Director Hinman...more
2/13/2018
/ Amended Rules ,
Corp Fin ,
Corporate Taxes ,
Disclosure Requirements ,
EU ,
Financial Institutions ,
GAAP ,
MD&A Statements ,
Regulation S-K ,
Regulatory Oversight ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Tax Cuts and Jobs Act
Earlier this week, SEC Chairman Jay Clayton and members of the SEC Division of Corporation Finance discussed a number of topics relevant to public companies at the 45th Annual Securities Regulation Institute, which was...more
In December, the Center for Audit Quality released The Auditor’s Report: Considerations for Audit Committees. The new tool is designed to assist audit committees navigate the new auditor’s reporting model by summarizing the...more
On December 22, 2017, the Securities and Exchange Commission issued Staff Accounting Bulletin No. 118 (SAB 118) to assist companies comply with applicable accounting rules regarding the impact of the 2017 Tax Cuts and Jobs...more
Always a fertile source of guidance, this year’s American Institute of Certified Public Accountants Conference on Current SEC and PCAOB Developments, held on December 4-6, was no exception. Discussions during this year’s...more
In a November 14 speech at the Financial Executives International 36th Annual Current Financial Reporting Issues Conference, SEC Chief Accountant Wesley Bricker commented on a range of topics, including effective financial...more
The Center for Audit Quality and Audit Analytics recently released their 2017 Audit Committee Transparency Barometer. As in past years, the 2017 report “illustrates the continuing positive trend of audit committees...more
On October 23, 2017, the Securities and Exchange Commission approved the Public Company Accounting Oversight Board’s revised auditing standard, AS 3101, governing the contents and form of the audit report. As noted by SEC...more