Accounting & Auditing

Faster. Better. Smarter. In today’s marketplace, these terms describe the expected. Faster response times, better communication tools, smarter computer chips. And now – under the Securities and Exchange Commission – faster, better, smarter closes. An estimated 6,500 public companies will be subject to the new SEC rule requiring more timely closing and reporting – closing […]

The Securities and Exchange Commission voted to adopt amendments to implement the mandate of Section 401(a) of the Sarbanes-Oxley Act of 2002. Section 401(a) added Section 13(j) to the Securities Exchange Act of 1934, which requires the Commission to adopt final rules by Jan. 26, 2003, to require each annual and quarterly financial report required […]

The Securities and Exchange Commission today approved the adoption of Rule 2-06 of Regulation S-X to implement Section 802 of the Sarbanes-Oxley Act of 2002. Documents to be retained – Rule 2-06(a) will require that accounting firms retain records relevant to the audits or reviews of issuers’ and registered investment companies’ financial statements, including workpapers […]

Section 401(b) of the Sarbanes-Oxley Act of 2002 directs the Commission to issue final rules by Jan. 26, 2003, requiring that any public disclosure or release of “pro forma financial information” by a public company be presented in a manner that (1) does not contain an untrue statement of a material fact or omit to […]

Original FASB proposal for a principles-based approach to standard setting to improve the quality and transparency of financial accounting and reporting in the United States.