The Securities and Exchange Commission (SEC) recently reinforced its focus on the importance of corporate governance and financial reporting by special purpose acquisition companies (SPACs).
Acting Chief Accountant Paul Munter issued a statement last week highlighting key financial reporting and auditing considerations for private companies entering public markets through a merger with a SPAC. On the same day, the staff of the Division of Corporation Finance issued a statement on issues to be considered before a private company undertakes a business combination with a SPAC.
