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Any time now, we are expecting both the Financial Accounting Standards Board and its global counterpart, the International Accounting Standards Board, to issue final standards on accounting for business combinations and non-controlling interests. These standards are the culmination of a joint project between FASB and IASB, and staffs of both boards have participated on the […]

Fresh from giving foreign companies the choice of filing financial statements according to U.S. Generally Accepted Accounting Principles or International Financial Reporting Standards, the Securities and Exchange Commission is now trying to figure out how to do the same for domestic businesses. The question ultimately seems to be when, not if, U.S. companies will be […]

The Securities and Exchange Commission will meet this week to vote on amendments to its rules for shareholder access to the proxy, in what is sure to be one of the most highly charged meetings of the year. The SEC quietly announced last week that it will hold a meeting Nov. 28 to consider whether […]

The head of an advisory committee charged with finding ways to simplify and improve financial reporting says the panel will issue interim recommendations at its next meeting in January, including its views on XBRL. Robert Pozen, chairman of the Securities and Exchange Commission’s financial reporting advisory committee, says his group wants to express its views […]

Non-accelerated filers and other small companies have received an early Christmas gift of relaxed rules for capital-raising and reporting requirements from the Securities and Exchange Commission, part of a concerted effort to make raising capital simpler and cheaper for the little guy. Approved Nov. 15, the three amended rules are part of a package of […]

As widely expected, the Securities and Exchange Commission has abolished a long-standing requirement that overseas companies listed on U.S. exchanges reconcile their financial statements to U.S. Generally Accepted Accounting Principles—a crucial step toward adopting a single, globally accepted set of accounting rules. The Commission voted last week to end its reconciliation requirement for foreign issuers […]

In the year-long parade of plans and proposals for how to ensure the United States retains its competitive edge in the global marketplace, the nation’s leading financial institutions are calling for an overhaul in the regulatory regime. The Financial Services Roundtable—a think tank with 100 members representing America’s banking, insurance, and investment sector—says America can […]

The Securities and Exchange Commission will vote this week on two notable proposals: whether to let foreign private issuers file financial statements in International Financial Reporting Standards without reconciling those statements to U.S. Generally Accepted Accounting Principles, and whether to approve a package of reforms to simplify financial reporting for smaller companies. The Commission will […]

Despite the steady march toward a single, global set of accounting standards for public companies, it’s premature to expect U.S. investors to comprehend financial statements prepared under two different accounting systems. That may be the view of a wide range of accounting experts, who are urging the Securities and Exchange Commission to ease up on […]

Despite the steady march toward a single, global set of accounting standards for public companies, it’s premature to expect U.S. investors to comprehend financial statements prepared under two different accounting systems. That may be the view of a wide range of accounting experts, who are urging the Securities and Exchange Commission to ease up on […]