On Tuesday, the SEC’s Division of Corporation Finance posted updated Compliance and Disclosure Interpretations (C&DIs) regarding Non-GAAP Financial Measures. A summary of the specific changes is set out below, followed by...more
SEC Acting Chief Accountant Paul Munter released a statement last week, Assessing Materiality: Focusing on the Reasonable Investor When Evaluating Errors (the “Statement”), that is sure to become required reading for any...more
The Securities and Exchange Commission recently released a Statement highlighting eight areas that audit committees should focus on this reporting season.
Penned by SEC Chairman Jay Clayton, Division of Corporation Finance...more
1/7/2020
/ Audit Committee ,
Audits ,
Best Practices ,
Corporate Governance ,
Critical Audit Matters (CAMs) ,
GAAP ,
ICFR ,
Independent Audits ,
Libor ,
New Guidance ,
Non-GAAP Financial Measures ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC)
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and Exchange Commission voted to amend disclosure requirements “that have become redundant, duplicative, overlapping, outdated, or superseded, in light of other Commission disclosure requirements,...more
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
On May 17, 2016, the SEC’s Division of Corporation Finance escalated the SEC’s efforts to curb perceived misuse of non-GAAP financial measures with the issuance of a revised set of Compliance and Disclosure Interpretations...more
5/26/2016
/ C&DIs ,
Earnings Reports ,
EBITDA ,
Financial Reporting ,
Form 8-K ,
GAAP ,
Non-GAAP Financial Measures ,
Publicly-Traded Companies ,
Regulation G ,
Regulation S-K ,
Securities and Exchange Commission (SEC)
Judging by the frequency of recent news reports and SEC staff speeches focused on non-GAAP financial measures, audit committees may be well served to take a fresh look at the non-GAAP measures reported by their companies and...more