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 […]
Accounting & Auditing
Posted inAccounting & Auditing
Conditions for Use of Non-GAAP Financial Measures
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 […]
Posted inAccounting & Auditing
Principles-Based Approach To U.S. Standard Setting
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.