All Disclosure articles – Page 3

  • Blog

    New analysis shows audit committees voluntarily say more


    Another study confirms audit committees are trying to raise the bar in terms of how much they tell investors about their oversight of the external audit. Tammy Whitehouse has more.

  • Blog

    FASB simplifies income tax accounting for asset transfers


    FASB has issued another simplification to accounting rules, this time targeting income taxes. The rule focuses on asset transfers within related entities. Tammy Whitehouse has more.

  • AuditWheel

    Auditors plan to dig into controls, risk in year-end audits


    Auditors preparing for the upcoming year-end audit cycle are assembling a long list of accounting, regulatory, and market concerns. Tammy Whitehouse has more.

  • Blog

    Disclosure effectiveness gains traction and momentum


    A host of private and regulatory groups are making big strides in improving disclosure effectiveness. Robert Herz has more.

  • Blog

    Audit committees continue incremental disclosure increases


    A fresh EY study of audit committee disclosures shows audit committees are still making new strides in increasing their voluntary disclosures in annual proxy statements. Tammy Whitehouse has more.

  • TaxAccounting

    FASB proposal would target income tax disclosures


    FASB proposed a change to the disclosure requirements under Topic 740 in the Accounting Standards Codification that would require public companies to add nearly a dozen new items to their existing income tax disclosures, including income or losses from continuing operations along with income tax expense or benefit, separated by ...

  • TheresaMay

    Theresa May’s post-Brexit, Euro-style governance reforms


    Out of the post-Brexit chaos, Home Secretary Theresa May is poised to become the new U.K. Prime Minister. She supported Remain, but stands by Brexit, so where will she steer the ship? Her first speech gives some indicators, and Brexiters might not like the sound of them. Paul Hodgson has ...

  • Blog

    SEC proposes modernizing mining company disclosures


    The latest step toward disclosure effectiveness: The SEC has proposed rules to modernize disclosure requirements for mining registrants and align them with global standards. The rules would rescind Industry Guide 7 and include the updated mining property disclosure requirements in a new subpart of Regulation S-K. More from Joe Mont.

  • Blog

    Financial reporting has room for improvement, says KPMG


    A recent KPMG report underscores some pretty widespread deficiencies when it comes to business reporting. Whether companies are failing to note the impact of new products or how much injury time they have suffered, most can stand to improve the state of their annual reports. Paul Hodgson has more survey ...

  • InternalControlsImage

    Spotting the difference between ‘significant deficiency’ and ‘material weakness’


    Material misstatements involve mistakes large enough, surely, to involve some kind of internal control shortcoming that allowed the misstatement to occur in the first place. So why aren’t more internal control reporting and auditing processes helping to identify control lapses in advance of material misstatements? Tammy Whitehouse explores.

  • Article

    Discussing the many facets of disclosure effectiveness


    The SEC is seeking comment on nearly 350 questions regarding the Commission’s Regulation S-K effectiveness review. At last week’s Compliance Week conference, Karen Garnett of the Division of Corporate Finance headlined a panel discussion on the process thus far. Joe Mont has more.

  • Article

    SEC plunges deeper into disclosure reform


    Improving, modernizing, and perhaps even simplifying the SEC’s disclosure regime has long been the Holy Grail of securities law. And while help may be on the way with the SEC’s new Concept Release, reports Joe Mont, plenty of debate is sure to follow.

  • Blog

    SEC claims Navistar, former CEO misled investors about truck engine


    Yesterday, the SEC filed an administrative proceeding against Navistar International Corp. alleging that Navistar misled investors when it "failed to fully disclose the company’s difficulties obtaining Environmental Protection Agency (EPA) certification" of a particular truck engine. Navistar agreed to settle the SEC's AP by paying a $7.5 million penalty and ...

  • Article

    Footnotes of the future: reflections from the Disclosure Initiative


    The IASB hears from investors all the time: Financial statement disclosures are too complicated, with too much insignificant detail; unorganized footnotes; and language that reads like a checklist. Seems the board has been listening. Inside, IASB member Gary Kabureck discusses some of the actions the board is taking to improve ...

  • Article

    Climate change continues to be a disclosure concern


    While pundits and true believers on both sides of the environmental fence bicker over climate change, public companies may want to focus their attention on specific developments that could influence their disclosure regime and what they quantify as material information for investors. Questions they should be asking: whether state officials ...

  • Blog

    The state of “Emperor’s New Clothes” corporate disclosure


    Capital markets move on information. And business in general improves in a competitive world when oversight is grounded in meaningful data. That’s why transparency in disclosure is such a good thing. But what we have now is bland compliance, not insightful communication, and it’s pretending that something exists when it’s ...

  • Article

    Audit committees discuss the growing demand for disclosure


    Image: With proxy season just around the corner, audit committees are discussing how to answer growing demand for more disclosure—and whether the demand for more information is really a demand for more robust oversight of auditors. “There is clearly an increase in at least the dialogue that audit committees are ...

  • Blog

    FASB Tests Materiality Ideas With Fair-Value Disclosure Proposal


    As part of its effort to improve disclosure requirements, FASB is proposing new disclosure provisions around fair-value measurements to make fair-value disclosures more meaningful to investors. The proposal says entities would provide required disclosures if they are material, and would remove phrases such as “an entity shall disclose at a ...

  • Article

    SEC Girds for Next Wave of Political Battles


    On paper, the next several months mark the final stretch for the SEC’s implementation of Dodd-Frank Act rulemaking. In reality expect continued battles over the law, waged by both Republicans and Democrats. Recent congressional hearings gave a sense of what’s to come: stress tests for asset management funds, fights over ...

  • Article

    New U.K. Law Turns Up Heat on Human Trafficking Transparency


    Image: Companies doing business in the United Kingdom, take note: a new law in the country establishes new disclosure obligations about what you’re doing to tackle slavery and human trafficking in your operations, as well your supply chain. “Companies should start preparing to ensure compliance with the legislation as soon ...