All Disclosures articles – Page 2

  • Article

    Advice Rolls In as SEC Disclosure Review Rolls On

    2015-10-14T13:00:00Z

    Image: Stop us if you’ve heard this before: The SEC is attempting a comprehensive overhaul of its disclosure regime. This time, however, Chairman Mary Jo White may succeed where many of her predecessors failed. The SEC has numerous ideas to reform Regulation S-X, and no shortage of public comments on ...

  • Blog post

    Clawbacks, Other Reforms Drive Better Pay Disclosure

    2015-10-14T11:00:00Z

    A new study from Deloitte finds that FTSE 100 companies have dramatically improved their disclosures around executive pay in recent years, probably in no small part due to new clawback provisions and other governance requirements adopted lately. (New regulations on pay disclosure were rolled out last year, such as a ...

  • Blog post

    SEC Launches Regulation S-X Review

    2015-09-28T12:45:00Z

    The Securities and Exchange Commission is seeking public comment on the effectiveness of financial disclosure requirements in Regulation S-X. The request for comment, part of the Commission’s Disclosure Effectiveness Initiative, focuses on financial disclosures companies must file regarding acquired businesses and affiliated entities

  • Blog post

    FASB Proposes Aligning Guidance on Materiality

    2015-09-25T11:15:00Z

    Image: FASB has issued two new exposure drafts—one to help firms use discretion when deciding which footnote disclosures should be considered material; the other to clarify the concept of materiality for standard-setting purposes. The proposals are intended to help organizations improve the effectiveness of their disclosures by steering them away ...

  • Blog post

    EY Finds More Voluntary Audit Committee Disclosures

    2015-09-09T11:15:00Z

    According to a recent report from EY, audit committees for the largest companies continue to raise the bar on what they voluntarily say in their reports about their responsibility for and oversight of the external audit. In its analysis, EY says 21 percent of audit committees disclosed in 2015 that ...

  • Blog post

    FASB Plans Disclosure Changes for Uncertain Tax Positions

    2015-09-04T08:30:00Z

    FASB has tentatively decided to revise disclosure of uncertain tax positions, by dropping the current requirement for companies to disclose the nature and estimate of the range for a reasonably possible change in the unrecognized tax benefit balance in the next 12 months. More inside.

  • Article

    Hertz Restatement Drives Home Top-Level Control Issues

    2015-07-28T14:00:00Z

    Image: Car rental kingpin Hertz Corp. is nearly finished with its sweeping restatement of several years’ worth of financial statements, and it’s giving compliance and audit executives plenty of cautionary tales to read. Its latest annual report outlines—in frank detail—more than a dozen failures, most of them in senior leadership. ...

  • Article

    All the Questions Confronting Clawback Policy

    2015-07-07T09:15:00Z

    The SEC has proposed a new rule that publicly traded companies adopt a clawback policy to recoup incentive-based compensation from executives that later turns out to be based on faulty financial statements. How hard can that be? Well, pretty hard, many compensation experts say. Inside, we have the run-down on ...

  • Blog post

    SEC Poses Long List of Possible Audit Committee Disclosures

    2015-07-01T21:15:00Z

    Only a day after audit regulators have proposed a new method for extracting from audit firms the names of engagement partners on each public company audit, the SEC blew open the discussion with a long list of its own questions about whether audit committees should provide that and many more ...

  • Article

    More Hints at More Audit Committee Disclosure

    2015-06-02T11:15:00Z

    Image: The SEC plans a concept release “soon” that could modernize audit committee disclosures for the first time in years, including touchy subjects like naming the audit engagement partner. Expect awkward questions to follow about how audit firms are hired and perform the work they do. “This foreshadows what I ...

  • Blog post

    Senator Presses SEC on Fake EDGAR Filings

    2015-05-29T10:30:00Z

    Image: In a letter to SEC Chair Mary Jo White, Sen. Chuck Grassley (R-Iowa) demanded more information about fake filings, including a fictitious Avon takeover bid, that somehow make their way onto the agency’s EDGAR system. “This pattern of fraudulent conduct is troubling, especially in light of the relative ease ...

  • Blog post

    Pension Funds Ask SEC for Board Diversity Rule

    2015-04-01T11:30:00Z

    A coalition of state treasurers and pension funds has petitioned the SEC for new disclosure requirements on board diversity. They want a new rule that adds gender, racial, and ethnic diversity data to current disclosures dictated by Regulation S-K, which only requires companies to identify the minimum skills, experiences, and ...

  • Article

    Momentum Grows for Small Companies & Capital Markets

    2015-03-17T14:00:00Z

    The SEC is exploring new ways to fulfill its mission to facilitate capital formation for small- and medium-sized companies. While uncertainty still surrounds capital formation efforts included in the JOBS Act, momentum is growing to revisit the SEC’s traditional definition of an accredited investor, and to create new “venture exchanges” ...

  • Article

    Blurred Lines: How to Handle Informal SEC Communications

    2015-03-17T13:30:00Z

    When the SEC sends a formal inquiry into your company’s operations, you know you have a problem to be handled in strict ways. So what about when the SEC delivers an “informal” request—and all those speeches and opinions, for that matter, that can sound an awful lot like formal guidance ...

  • Blog post

    SEC Speaks on Graphics, Multimedia in Filings

    2015-01-27T13:00:00Z

    The SEC is offering guidance on how companies can use charts, graphics, and even multimedia files in corporate filings to tell your story in fewer words. All well and good, says a new Compliance and Disclosure Interpretation from the Division of Corporation Finance. It warns, however, that required information must ...

  • Article

    Why Wait for SEC? The DIY Disclosure Review

    2015-01-21T15:30:00Z

    While companies await results of the SEC’s ongoing review of its disclosure regime (hint: do not hold breath), they can just as well try the same at home. Creating a disclosure committee, cutting redundancy in 10-K risk factors and MD&A sections, spotlighting material information, and using charts and graphs are ...

  • Article

    FTC, FDA Take Closer Look at Disclosures

    2015-01-21T12:00:00Z

    The Federal Trade Commission is cracking down on companies with questionable advertising disclosures. The Food and Drug Administration, meanwhile, may allow shorter lists of side effects in drug and medical device ads, even as it prepares tougher standards for how these companies use online advertising and social media. The focus ...

  • Article

    Maturing Conflict Minerals Programs in Year 2

    2014-12-23T14:45:00Z

    Image: Now that everyone has closed their Excel files on the first year of conflict minerals compliance, companies are pushing toward greater automation in Year 2. Reducing lines of data about smelters in your supply chain is one step, improving data integrity another. “Technology can help you understand the supply ...

  • Article

    SEC Gives More Ideas on Less Disclosure

    2014-12-16T11:15:00Z

    Image: A small army of SEC officials attended the annual AICPA conference last week, offering all manner of advice to financial reporting executives struggling to comply with external reporting rules. One subject: how to achieve better disclosure with fewer words. “We are aware there are some registrants that seem to ...

  • Blog post

    SEC Disclosure Simplification Bill Approved in House

    2014-12-04T10:30:00Z

    Image: A bill intended to help public companies streamline their disclosures has been unanimously approved by the House of Representatives. The Disclosure Modernization and Simplification Act, sponsored by Rep. Scott Garrett (R-N.J.), allows issuers to submit a summary page on annual Form 10-K filings. It also gives the SEC a ...