|
: Securities and Exchange Commission (SEC)
|
11-06-13 :
XBRL US GAAP Taxonomy: FASB, SEC Staff On June 22 Webcast
11-05-27 :
SEC Staff Paper On FASB Endorsement, Incorporation Of IFRS Into US GAAP
The SEC released for public comment a staff paper on a possible framework in which the FASB would be responsible for endorsing IFRS standards for incorporation into U.S. GAAP.
11-04-27 :
SEC, PCAOB News Roundup As Of April 27, 2011
This summary is made available as a benefit of membership to FEI members only.
11-02-24 :
CCT Comments on Swap Entity Definitions
11-01-31 :
SEC’s detailed XBRL tagging requirement
The Committee on Corporate Reporting (“CCR”) of Financial Executives International (“FEI”) appreciates the opportunity to share views on our members’ experiences with preparing quarterly filings under the SEC’s detailed XBRL tagging requirement.
10-12-08 :
FEI Express Public Company Edition #88
10-11-17 :
FEI Express Private Company Edition #84
10-11-05 :
FEI Comments On Standard-Setting Developments To FASB, IASB, SEC
10-11-03 :
FEI Express Private Company Edition #83
10-11-01 :
SEC 'Dear CFO Letter' On Mortgages, Foreclosure, Not Limited To Financial Institutions
On Oct. 29, 2010 the SEC posted a 'Dear CFO' letter on mortgage and foreclosure related activity. The SEC notes the letter is not limited to financial institutions.
10-10-29 :
SEC Releases Report On IFRS Workplan; Tweedie Emphasizes Single Set Of Standards
On Oct. 29, 2010 the SEC published its first progress report on its IFRS Workplan.
10-10-27 :
Regulators Step Up Efforts On Transnational Bribery, FCPA Enforcement - OECD Report
On Oct. 15, 2010 the OECD's Working Group on Bribery published its 'phase 3' report, commending stepped-up efforts of the U.S. DOJ, FBI and SEC regarding enforcement efforts of anti-bribery statutes, including the FCPA.
10-10-18 :
SEC IFRS Work Plan Incorporation Implication
We support the SEC’s efforts on its continued work in analyzing the benefits and costs associated with the use of IFRS by U.S. issuers. CCR continues to believe there are benefits to be derived from the development and use of a single set of globally accepted accounting standards.
10-10-18 :
SEC Proposes Rules For Proxy Voting, Disclosures On 'Say-On-Pay' And 'Golden Parachutes'
On Oct. 18, 2010, the SEC released proposed rules on executive compensation ('say-on-pay') and proxy voting.
10-10-18 :
CCR comments on the SEC IFRS Work Plan Investor Education
We support the SEC’s efforts on its continued work in analyzing the benefits and costs associated with the use of IFRS by U.S. issuers. CCR continues to believe there are benefits to be derived from the development and use of a single set of globally accepted accounting standards.
10-10-18 :
XBRL US Establishes Best Practices Commitee
On Oct. 18, 2010, XBRL US announced the formation of a Best Practices Committee.
10-10-14 :
SEC Proposes Rule On Asset Backed Securities; Interim Final And Proposed Rule On Swaps
On Oct. 13, 2010 the SEC proposed a new rule on Asset Backed Securities, and voted to issue an interim temporary final rule and proposed rules on swap transactions.
10-10-05 :
SEC Grants Stay On Proxy Access Rule
On Oct. 4, 2010 the SEC issued an Order granting a stay on its new proxy access rule.
10-09-29 :
FEI Express Public Company Edition #84
10-09-21 :
CCT signs Coalition for Derivatives End Users Comment Letter on Dodd-Frank Definitions
10-09-15 :
SEC Exempts Small Cos. From Internal Control Audits
On Sept. 15, 2010 the SEC issued a Final Rule exempting small companies from Section 404(b) of the Sarbanes-Oxley Act.
10-09-03 :
FAF, SEC Seek Comment On GAAP, Non-GAAP Taxonomies For XBRL
10-09-01 :
SEC, PCAOB News Roundup July 1-Sept. 1, 2010
This summary of highlights from recent SEC and PCAOB actions is provided as a benefit of membership to FEI members only.
10-09-01 :
Financial Regulation: September 10
The most comprehensive changes to financial regulation in the United States since the Great Depression were signed into law in July. What’s next, and just what does this massive piece of regulation mean for business?
10-08-04 :
SEC, PCAOB News Roundup: July 1, 2010 - August 4, 2010
This summary of recent developments at the SEC and PCAOB is provided as a benefit of membership for FEI members only.
10-07-21 :
CCT Urges Protection of Stable NAV for Money Market Funds
10-07-21 :
Dodd-Frank Act Signed By President Obama
10-07-02 :
CCR’s letter to the SEC addressing concerns with time needed for detailed footnote tagging required.
CCR’s letter to the SEC addressing concerns with time needed for detailed footnote tagging required starting in Q2.
10-06-28 :
Supreme Court Decides PCAOB Unconstitutional; Recommends A Cure
Earlier today, the U.S. Supreme Court issued its opinion in the Free Enterprise Fund et al. v. PCAOB et al. case.
10-06-25 :
Summary Of Provisions In The Dodd-Frank Act
On June 25, 2010, the House and Senate Conference Committee on Financial Regulation approved the Dodd-Frank Act on a party-line vote.
10-06-23 :
SEC, PCAOB News Roundup June 1, 2010 - June 23, 2010
This summary of recent developments at the SEC and PCAOB is provided as a benefit of membership for FEI members.
10-06-09 :
SEC, PCAOB News Roundup May 1, 2010 - June 9, 2010
This summary of recent developments at the SEC and PCAOB is provided as a benefit of membership for FEI members.
10-06-09 :
FASB, IASB Modify Convergence Timetable In Response To Stakeholder Concern
On June 2, 2010 FASB and the IASB announced a modification to the convergence timetable set forth in the FASB-IASB Memorandum of Understanding (MoU).
10-05-26 :
SEC, PCAOB News Roundup May 1, 2010 - May 26, 2010
This summary is available to FEI members only.
10-05-12 :
SEC, PCAOB News Roundup - April 1, 2010 - May 12, 2010
This summary of highlights of developments relating to the SEC and PCAOB is prepared as a membership benefit for FEI members.
10-05-05 :
CBF Voices Concern on Provision Regulating Swap Dealers in Financial Regulatory Reform Bill
10-05-01 :
Financial Reporting: May 10
10-05-01 :
Washington Insights: May 10
During the long health-care reform debate and legislative process, climate change rules have flown mostly under the radar
10-04-29 :
SEC, PCAOB News Roundup April 1, 2010 - April 29, 2010
This summary of recent developments at the SEC and PCAOB is provided as a beneft of membership for FEI members.
10-04-14 :
SEC, PCAOB News Roundup March 1, 2010- April 14, 2010
This summary of recent news from the SEC and PCAOB is provided as a benefit of membership to FEI members.
10-03-31 :
SEC, PCAOB News Roundup March 1, 2010-March 31, 2010
This summary of recent developments at the SEC and PCAOB is provided as a benefit of membership for FEI members.
10-03-30 :
SEC's 'Dear CFO' Letter Seeks Information On Repurchase Accounting And Disclosures
On March 29, 2010 the SEC's Division of Corporation Finance posted a "Sample Letter Sent to Public Companies Asking for Information Related to Repurchase Agreements, Securities Lending Transactions, or Other Transactions Involving the Transfer of Financial Assets."
10-03-17 :
SEC, PCAOB News Roundup - Feb. 1, 2010 - March 17, 2010
This summary of recent developments at the SEC and PCAOB is provided as a benefit for FEI members.
10-03-15 :
SEC Updates CD&Is On Exec. Comp. and Corp. Gov.; Issues Staff Legal Bulletin
On March 12, 2010 the SEC released three additional Q&As relating to Executive Compensation and Corporate Governance, as part of its Compliance & Disclosure Interpretations series. Separately, on March 15, 2010 the SEC released a Staff Legal Bulletin simplifying the requirements relating to suspension of certain reporting obligations.
10-02-24 :
FEI Issues Statement In Response To SEC's IFRS Work Plan
10-02-24 :
SEC Reaffirms Commitment To Single Set Of Standards; Expects To Decide In 2011 On IFRS
At an open commission meeting earlier today, the SEC voted to issue a Statement reaffirming its commitment to a single set of global accounting standards. The SEC also reaffirmed that based on completion of a Workplan in 2011 - which it is publishing today - and based on succesful completion of the IASB-FASB convergence projects under their MOU, the SEC reach a decision in 2011 on IFRS.
10-02-19 :
SEC Announces Feb. 24 Meeting To Consider IFRS Statement
On Feb. 19, 2010, the SEC published a Sunshine Act Notice announcing it will hold an open commission meeting on Wed. Feb. 24 at which it will consider issuing a statement on IFRS.
10-02-17 :
SEC, PCAOB News Roundup - Feb. 1, 2010-Feb. 17, 2010
This summary of recent developments at the SEC and PCAOB is provided as a benefit of membership to FEI members.
10-02-16 :
SEC Updates Compliance And Disclosure Interpretations
On Feb. 16, 2010 the SEC released the latest in its series of updates to the Questions and Answers contained in its Compliance and Disclosure Interpretations (C&DIs).
10-02-15 :
SEC Chairman, Chief Accountant, Others Provide Highlights At PLI's SEC Speaks
Following are highlights from SEC staff, including SEC Chief Accountant Jim Kroeker and SEC Division of Corporation Finance Chief Accountant Wayne Carnall, at the annual PLI SEC Speaks conference on Feb. 5, 2010.
10-02-03 :
SEC, PCAOB News Roundup Jan. 7, 2010-Feb. 3, 2010
This summary is provided as a benefit of membership to FEI members.
10-02-01 :
SEC, PCAOB News Roundup Feb. 1, 2010 - March 3, 2010
This summary of recent developments at the SEC and PCAOB is provided as a benefit of membership for FEI members.
10-01-27 :
SEC Issues Interpretive Guidance On Climate Change Disclosures
At an open commission meeting earlier today, the SEC voted to publish interpretive guidance relating to existing disclosure requirements, as applicable to climate change.
10-01-20 :
SEC, PCAOB News Roundup Jan. 7, 2010 - Jan. 20, 2010
The following summary is provided as a benefit of membership for FEI members only.
10-01-18 :
S 1700 Energy Security Through Transparency Act
Today FEI sent a letter to Senate leadership to address concerns with the proposed legislation "Energy Security Through Transparency Act of 2009" - S. 1700.
10-01-15 :
PCAOB AS7, Engagement Quality Review, Approved By SEC
On Jan. 15, 2010 the PCAOB announced that the SEC has approved PCAOB's AS7, Engagement Quality Review.
10-01-13 :
SEC Enforcement And Rulemaking Update
On Jan. 13, 2010 the SEC announced several new initiatives relating to the Enforcement Division. Separately, the SEC voted at an open commission meeting to release a proposed rule and concept release.
10-01-12 :
SEC Comment Letters: Foreign Private Issuers Using IFRS And Domestic Registrants
Deloitte provides a closer look on SEC Comment Letters on Private Issuers Using IFRS and Domestic Registrants
10-01-06 :
SEC, PCAOB News Roundup Dec. 7, 2009 - Jan. 6, 2010
The following summarizes developments at the SEC and PCAOB from Dec. 7, 2009 to Jan. 6, 2010. This summary is provided as a benefit of membership for FEI members.
09-12-22 :
SEC Posts Transition Guidance For New Proxy Disclosures; Other Proposals
On Dec. 22, 2009 the SEC posted a Compliance and Disclosure Interpretation entitled Proxy Disclosure Enhancements Transtion. The transition guidance relates to the SEC's new proxy disclosure rules on risk, compensation and governance which were approved by the SEC on December 16.
09-12-21 :
FEI CEO: 2010 Top Challenges For Financial Executives
09-12-16 :
SEC, PCAOB News Roundup Dec. 3, 2009-Dec. 16, 2009
This summary is provided as a benefit for FEI members.
09-12-16 :
SEC Approves Rules On Disclosure Of Compensation, Risk, Corporate Governance
At its open commission meeting on Dec. 16, 2009 the SEC voted 4-1 to approve final rules requiring new disclosures relating to executive compensation and corporate governance.
09-12-11 :
Accounting Standards And Audit-Related Provisions Of H.R. 4173
The following summary of accounting standards and audit related provisions of H.R. 4173, the Wall Street Reform and Consumer Protection Act, is provided for FEI members only.
09-12-11 :
House Passes Financial Regulatory Reform Bill
On Dec. 11, 2009 the House of Representatives passed by a 223-202 vote, its version of a comprehensive financial regulatory reform bill, entitled H.R. 4173, the Wall Street Reform and Consumer Protection Act.
09-12-07 :
SEC Launches XBRL Portal
On Dec. 7, 2009 the SEC launched a new portal, http://xbrl.sec.gov, as a single stop for finding information about eXtensible Business Reporting Language (XBRL) on the SEC website, particularly information about creating and submitting XBRL-tagged infteractive data files in compliance with SEC rules.
09-12-07 :
Highlights Of SEC Chief Accountant Speech On Dec. 7
Following are highlights from SEC Chief Accountant James Kroeker's remarks at the AICPA's annual conference on current SEC and PCAOB developments.
09-12-02 :
SEC Comment Letters On Domestic Registrants: A Closer Look - By Deloitte
09-12-02 :
SEC, PCAOB News Roundup Nov. 19, 2009 - Dec. 2, 2009
This summary of recent developments at the SEC and PCAOB is provided as a benefit of membership to FEI members only.
09-11-30 :
Highlights Of FEI Current Financial Reporting Issues Conference - By KPMG
09-11-24 :
SEC Proposed, Final Rules On Credit Rating Agencies; Congress Seeks Related Reforms
On Nov. 23, 2009 the SEC released proposed and final rules relating to credit rating agencies.
09-11-19 :
Lessons From The Financial Crisis: SEC Commissioner Casey's Speech At FEI CFRI
Commissioner Kathleen Casey's speech at FEI's CFRI conference, Nov. 17, 2009: Lessons From the Financial Crisis.
09-11-18 :
FEI Summary of Current Issues In Financial Reporting, Nov. 16-17
09-11-18 :
SEC, PCAOB News Roundup Nov. 5, 2009 - Nov. 18, 2009
Following are selected highlights of new documents issued by, and other developments taking place at the SEC and PCAOB.
09-11-05 :
FEI Committee On Corporate Reporting Writes Congress On Standard-Setting
09-11-04 :
Sarbanes-Oxley Exemption Passes Congressional Committee
On Nov. 4, 2009 the House Financial Services Committee voted to adopt an amendment that would exempt small companies from Sarbanes-Oxley Section 404b.
09-11-04 :
SEC, PCAOB News Roundup Oct. 22, 2009 - Nov. 4, 2009
Following is an update on recent activity at the SEC and PCAOB.
09-10-21 :
SEC, PCAOB News Roundup Oct. 8, 2009-Oct. 21, 2009
Following is an SEC, PCAOB news update for the period Oct. 8, 2009-Oct. 21, 2009.
09-10-21 :
SEC Votes To Propose Rule Amendment On Dark Pools
At an open Commission meeting on Oct. 21, 2009 the SEC voted unanimously to release proposed rule amendments intended to increase the transparency of dark pools.
09-10-07 :
70% Of Respondents Want SEC To Approve IFRS Roadmap, Deloitte Survey
Seventy percent of respondents to a recent Deloitte survey indicated the SEC should approve its proposed roadmap or a modified version of it.
09-10-07 :
SEC, PCAOB News Roundup Sept. 24, 2009-Oct. 7, 2009
Following are selected highlights of new documents issued by, and other developments taking place at, the SEC and PCAOB.
09-10-05 :
SEC Releases Draft Strategic Plan For Public Comment; Update On Proxy Access
The SEC Investor Advisory Commitee met on Oct. 5, 2009 and received an update from SEC staff on the SEC's draft strategic plan, and on the status of SEC's proposed rulemaking on proxy access.
09-10-02 :
SEC Extends Sarbanes-Oxley Section 404b Deadline For Small Cos.
09-10-01 :
Excerpts From Past SEC Speeches On Accounting
09-10-01 :
Financial Stability Improvement Act - Highlights Of HFSC Discussion Draft
09-09-24 :
FEI Signs Letter to SEC Commenting on Proposed Amendments to Rule 2a-7 of the Investment Company Act
09-09-23 :
SEC, PCAOB News Roundup Sept. 10, 2009-Sept. 23, 2009
This summary is available to FEI-members only as a benefit of membership.
09-09-10 :
SEC Reporting For Business Combinations And Related Topics, By Deloitte
09-09-09 :
SEC, PCAOB News Roundup
The following news roundup is posted as a member benefit for FEI members-only.
09-08-26 :
SEC Issues Interpretation On Codification, 'Dear CFO' Letter On MD&A For Loan Losses
On Aug. 18, 2009 the SEC issued two releases relating to the FASB Codification, and relating to MD&A disclosures of loan losses.
09-08-25 :
James L. Kroeker Named Chief Accountant Of SEC
09-08-13 :
American Bankers Association Voices Concern On FASB-IASB Financial Instruments Project
On Aug. 12, 2009 the American Bankers Association filed a comment letter on FASB's financial instruments project. ABA included in an attachment to that letter a white paper entitled: The Current Pace and Direction of Accounting Standard Setting. The letter and white paper follow another letter and white paper filed by ABA on the financial instruments project on Aug. 4.
09-08-07 :
FASB Publishes Actions Taken In Response To CIFIR Recommendations
On the one year anniversary of the issuance of the final report of SEC's Advisory Committee on Improvments to Financial Reporting (CIFIR), FASB issued a response listing its actions taken in response to CIFIR's recommendations.
09-08-04 :
XBRL-US Issues Extension File For FASB Codification
On Aug. 4, 2009 XBRL-US published a taxonomy extension file of references to FASB's Codification.
09-07-28 :
Financial Crisis Advisory Group Issues Report
On July 28, 2009 the FASB-IASB Financial Crisis Advisory Group issued its final report.
09-07-27 :
SEC Investor Advisory Committee Holds Inaugural Meeting
On July 27, 2009 the SEC convened the first meeting of its Investor Advisory Committee.
09-07-23 :
The XBRL Exhibit: A Checklist Of Things To Not Miss
On July 23, 2009 the Financial Executives Research Foundation published "The XBRL Exhibit: A Checklist of Things to Not Miss."
09-07-15 :
Investor Protection Act Of 2009, Part Of Broader Financial Regulatory Reform
On July 10, 2009 the Obama administration released draft legislation entitled the Investor Protection Act of 2009.
09-07-01 :
SEC Eliminates Broker Votes On Directors; Proposals Coming On Exec. Comp., Proxies
On July 1, 2009 the SEC voted to release several rule proposals relating to executive compensattion, corporate governance, proxy solicitation, and more.
09-06-25 :
SEC To Meet July 1: May Propose New Exec Comp, Governance Disclosures, More
The SEC will meet on July 1, 2009 to consider proposing new disclosures relating to executive compensation and corporate governance, and other proposed rules.
09-06-24 :
FEI Comments On Credit Rating Agencies
09-06-24 :
FEI Comments On Credit Rating Agencies
09-06-16 :
Panel Addresses Regulatory Reform: The New World Order
09-06-16 :
XBRL Panel Says Don't Put Off Planning, Take Responsibility
09-06-11 :
SEC Posts Proxy Access Proposal For Comment
On June 10, 2009 the SEC posted its proposed rule, Facilitating Shareholder Director Nominations. Comments are due 60 days after the proposal is published in the Federal Register.
09-06-11 :
International Update: IOSCO, More
On the closing day of the IOSCO 2009 annual conference, SEC Chairman Mary L. Schapiro reiterated the importance of IOSCO's principles in the increasingly interconnected global markets, and reviewed some current SEC initiatives.
09-06-01 :
SEC Posts FAQs, C&DIs On XBRL, Executive Compensation, More
On May 29, 2009 the SEC posted Frequently Asked Questions and Compliance and Disclosure Interpretations relating to XBRL, executive compensation disclosures, and other matters.
09-06-01 :
financial reporting: June 09
This IFRS section summarizes key points from the comment letters received by the U.S. Securities and Exchange Commission
09-06-01 :
FEI Participates In Celebrating SEC 75th Anniversary
09-05-20 :
SEC Votes 3-2 To Release Proposal On Shareholder Proxy Access
The SEC voted on May 20, 2009 to release a proposed rule on shareholder proxy access.
09-05-20 :
President Obama Signs Fraud Enforcement And Recovery Act (FERA); Mortgage Act
On May 20, 2009 President Barack Obama signed into law the Fraud Enforcement and Recovery Act of 2009 (FERA).
09-05-15 :
SEC Votes To Propose Rule Amendments To Strengthen Investment Adviser Rules
On May 14, 2009 the SEC voted to propose amendments to the investment adviser rules.
09-05-14 :
Treasury, SEC, CFTC Call For Regulatory Reform Of OTC Derivatives
On May 13, 2009 federal regulators laid out a plan for regulatory reform of the over-the-counter derivatives market. The plan notes the need for legislation to amend certain provisions of the Commodity Exchange Act and the securities laws.
09-05-08 :
SEC Chair On Financial Regulatory Reform
SEC Chairman Mary L. Schapiro outlined her views on principles for regulatory reform in a speech on May 8, 2009 before the Investment Company Institute.
09-04-21 :
XBRL-US Publishes 2009 Release Of U.S. GAAP Taxonomies
09-04-20 :
SEC 21st Century Disclosure Initiative
Gartner Research Report 164491
09-04-20 :
FEI Comments On SEC's Proposed IFRS Roadmap
On April 20, 2009 FEI's Commmittee on Corporate Reporting filed a comment letter on the SEC's proposed IFRS Roadmap.
09-04-19 :
XBRL presentation
XBRL
09-04-16 :
SEC Hosts Credit Rating Agencies Roundtable; Seeks Public Comment
On April 15, 2009 the SEC held a roundtable on oversight of credit rating agencies. Here is a detailed summary of that roundtable.
09-04-14 :
SEC Releases SAB 111, Amending Topic 5-M On Other Than Temporary Impairment (OTTI)
On April 14, 2009 the SEC released Staff Accounting Bulletin (SAB) 111, amending SAB Topic 5-M, related to other-than-temporary impairment (OTTI).
09-04-13 :
SEC Seeks Comment On Oversight Of Credit Rating Agencies
On April 13, 2009 the SEC released a request for comment on Oversight of Credit Rating Agencies. The request for comment is being conducted in conjunction with SEC's April 15 roundtable on this subject.
09-04-08 :
SEC Votes To Propose Restrictions On Short Selling; 60-Day Comment Period
At its open commission meeting on April 8, 2009 the U.S. Securities and Exchange Commission voted to release for a 60-day comment period proposed rules to restrict short selling.
09-04-01 :
washington insights: April 09
09-03-30 :
NIRI Seeks Comment On Proposed Voluntary Guidelines For Notice And Access ('E-Proxy')
On March 26, 2009 NIRI released for public comnent proposed voluntary guidelines for notice and access, relating to the SEC's rule for certain information to be provided in electronic vs. paper format (referred to as 'e-proxy').
09-03-26 :
Administration Releases Regulatory Reform Proposal
On March 26, 2009 U.S. Treasury Secretary Timothy Geithner appeared before the House Financial Services Committee to address overhauling financial regulatory systems.
09-03-10 :
FASB Considers 'Michael Young Principle' Of Disclosing Facts For FAS 5 Contingencies
At a public roundtable on March 6, 2009 FASB considered a principle suggested by Michael Young, of disclosing facts and contentions, not predictions, for FAS 5 contingencies.
09-03-09 :
Early Adoption Of IFRS By Companies Unlikely, Says FEI/FERF Study
09-03-06 :
Detailed Summary: FASB Roundtable-Proposed Amendments To Disclosure Of Contingencies
Following is a detailed summary of FASB's March 6, 2009 roundtable on proposed changes to disclosure of contingencies under FAS 5, Accounting for Contingencies. This detailed summary can only be downloaded by FEI members.
09-03-06 :
Congressional Hearings Slated On Mark-To-Market, More
The House Financial Services Committee has announced it will hold a hearing on March 12, 2009 on mark-to-market accounting. Additional hearings are being conducted by this and other Congressional commiteees relating to the credit crisis, systemic risk, and regulatory reform.
09-03-01 :
NYSE-Euronext Chair Niederauer Says: 'Don’t Let IFRS Become The Next Sarbanes-Oxley'
In a keynote address on March 11, 2009 at the U.S. Chamber of Commerce 3rd Annual Capital Markets Summit, NYSE-Euronext Chairman Duncan Niederauer raised cautions about a potential move to IFRS in the U.S.
09-03-01 :
FASB, SEC Commit To Providing Fair-Value (Mark-to-Market) Guidance By April 2
Following is a summary of the March 12, 2009 Congressional hearing on mark-to-market accounting.
09-03-01 :
Sen. Dodd Considers 'Breakers' For Mark-To-Market; Niederauer: MTM Like 'Gas On A Fire'
Sen. Chris Dodd (D-Conn.) responded to a question on mark-to-market accounting at the U.S. Chamber of Commerce's 3rd Annual Capital Markets Summit by saying an idea worth considering was whether to use a 'breaker system' to stem downward spirals relating to mark-to-market.
09-02-27 :
COT Joins LIFO Coalition’s Comments to the SEC on the Proposed IFRS Roadmap
09-02-26 :
SEC Division Of Corporation Finance Guidelines On 'Say-On-Pay' For ARRA, TARP
09-02-18 :
IFRS Considerations For Audit Committees, By Deloitte
09-02-11 :
U.S. Chamber Of Commerce Examines SEC, Makes Recomendations To Improve
09-02-11 :
U.S. Chamber Recommends 23 Ways To Improve SEC
On Feb. 11, 2009 the U.S. Chamber of Commerce issued a report containing 23 recommendations to improve the SEC.
09-02-06 :
XBRL Fundamentals And The SEC's New Rule, By KPMG
09-02-06 :
SEC's Schapiro Announces Initiatives; Becker Returns To SEC
Speaking at a PLI conference on Feb. 6, 2009, SEC Chairman Mary L. Schapiro announced various initiatives she would put in place in her administration.
09-02-03 :
SEC Extends Comment Period On IFRS Roadmap
09-01-30 :
SEC Posts Final Rule On XBRL
On Jan. 30, 2009 the SEC posted its final rule on XBRL.
09-01-27 :
Schapiro Confirmed As SEC Chair; Geithner At Treasury
09-01-23 :
FEI Asks SEC To Extend Comment Period On Proposed IFRS Roadmap
On Jan. 23, 2009 FEI sent a comment letter to the SEC, asking SEC to consider extending the comment period on the proposed IFRS Roadmap - current slated to end February 19 - by an extra 45 days.
09-01-23 :
Guidance For Small Public Cos. On Internal Control Audits Published By PCAOB
09-01-20 :
White House Chief Of Staff Calls For Review Of Pending, New Regulations
09-01-16 :
SEC Releases 21st Century Disclosure Initiative Report
On Jan. 16, 2009 the SEC released its report on its 21st Century Disclosure Initiative.
09-01-16 :
Sarbanes-Oxley Section 404 Survey Deadline Extended By SEC
08-12-31 :
SEC Issues Congressionally Mandated Study On Mark-To-Market Accounting
On Dec. 30, 2008 the SEC released its Congressionally mandated study of mark-to-market accounting, addressing six areas identified by Congress, and containing eight recommendations.
08-12-24 :
European Commission Grants Equivalence To U.S. GAAP, More
On Dec. 12, 2008 the European Union announced: "European Commission Grans Equivalence In Relation to Third Country GAAPs." This decision found U.S GAAP and Japan GAAP 'equivalent' to IFRS for purposes of non-EU based ('foreign') filers with listings in the EU. Additionally, certain other GAAP were found equivalent to IFRS on a transitional basis as those countries converge to IFRS.
08-12-18 :
Mary L. Schapiro Named SEC Chair By President-Elect Obama, Subject To Senate Confirm
On Dec. 18, 2008 President-elect Barack Obama announced he intends to name Mary L. Schapiro as Chair of the SEC. The appointment is subject to Senate confirmation.
08-12-17 :
SEC Approves Final Rule To Mandate XBRL, Launches IDEA System
The SEC voted on Dec. 17, 2008 to issue a final rule mandating XBRL. In related news, the SEC launched its IDEA system on December 17, which will initially supplement, and eventually replace, the EDGAR system.
08-12-17 :
SEC Launches Survey of Section 404 Costs, Benefits
The SEC is seeking responses to an online survey of the costs and benefits of Sarbanes-Oxley Section 404 by year-end.
08-12-10 :
SEC To Vote On XBRL Final Rule Dec. 17
The SEC announced on Dec. 10, 2008 that it will vote on a final XBRL rule on December 17.
08-12-09 :
SEC, FASB, PCAOB Remarks At AICPA Conference
The chairman of the SEC, FASB and PCAOB made keynote remarks, along with other SEC and PCAOB staff, at the AICPA's annual conference on current SEC and PCAOB developments Dec. 8-10, 2008.
08-12-08 :
Highlights Of SEC Chairman Christopher Cox’ Speech at AICPA Conference
Following are highlights from the keynote address given by SEC Chairman Christopher Cox at the AICPA's National Conference on Current SEC and PCAOB Developments on Dec. 8, 2008.
08-12-08 :
Links to SEC Staff Speeches and Related Documents, 2008 AICPA Conference
Following are links to the SEC staff speeches and related documents (Corp Fin Financial Reporting Manual) from the 2008 AICPA National Conference on Current SEC and PCAOB Developments.
08-12-03 :
SEC Acts On Credit Rating Agency Rulemaking
The SEC voted on Dec. 3, 2008 to adopt certain final rules, and to issue for public comment certain propsoed rules, related to nationally recognized credit rating organizations (NRSROs).
08-11-25 :
ABA Letter To Paulson Says SEC Should Take Immediate Action On Fair Value
On Nov. 25, 2008, the American Bankers Association sent a letter to the U.S. Treasury Secretary Henry M. Paulson, asking that immediate action be taken by the SEC to combat the procyclical effects of mark-to-market accounting,
08-11-25 :
XBRL US Initiates Public Review of US GAAP Taxonomies, Release 2009
On Nov. 25, 2008 XBRL US released the latest US GAAP Taxonomies, Release 2009, for public review. The public review period ends Jan. 15, 2009.
08-11-23 :
FEI CFRI Conference Features Panel On Fair Value
Fair value accounting was the subject of a breakfast panel at Financial Executives International’s (FEI’s) Current Financial Reporting Issues conference on Nov. 18, 2008. The panel, presented by SmartPros Ltd., featured Kenneth N. Goldmann of J.H. Cohn LLP, and Michael R. Young of Willkie Farr & Gallagher, and Colleen Cunningham of Resources Global Professionals.
08-11-21 :
Highlights From SEC Roundtable On Mark-to-Market Accounting
Following are highlights from the SEC's Nov. 21, 2008 roundtable on mark-to-market (fair value) accounting. The roundtable, the second of two, is being conducted to provide feedback (along with comment letters) on SEC's Congressionally mandated study of mark-to-market accounting.
08-11-20 :
Panelists Announced For SEC Forum On Small Business, Roundtable On Mark-To-Market
The SEC announced the panelists and agendas for its Nov. 20 Government-Business Forum on Small Business Capital Formation and its Nov. 21 Roundtable on Mark-to-Market Accounting.
08-11-16 :
G-20 Recommends Specific Actions To Address Credit Crisis
The Declaration issued at the conclusion of the Nov. 15, 2008 “G-20 Summit on Financial Markets and the Economy” laid out specific actions to be taken by finance ministers, regulators, accounting standard–setters, and others – some of which are to be accomplished by March 31, 2009. The G-20 agreed its next economic summit will take place by April 30, 2009.
08-11-14 :
SEC Releases Proposed IFRS Roadmap For 90-Day Comment Period
On Nov. 14, 2008 the SEC released its proposed IFRS Roadmap. The comment period ends Feb. 19, 2009.
08-11-11 :
SEC Seeking Candidates For Chief Accountant's PAF Program, 2009-11
The SEC is searching for qualified candidates for the Office of the Chief Accountant's Professional Accounting Fellow program for 2009-11
08-11-07 :
SEC Posts Staff Legal Bulletin On Shareholder Proxy Proposals
On Friday Nov. 7, 2008, the SEC posted Staff Legal Bulletin No. 14D, (SLB 14D) providing additional guidance and links to other SEC guidance on shareholder proxy proposals.
08-11-06 :
Highlights of FASB Roundtable On Proposed Changes To Securitization, Consolidation
Following are highlights from FASB's Nov. 6, 2008 roundtable on its proposed changes to securitization and related consolidation rules.
08-11-05 :
Treasury Posts Guidance From SEC, FASB On Equity Treatment Of CPP Warrants
Guidance issued by the U.S. Treasury Department on Oct. 31, 2008 on the Commercial Paper Program under the Emergency Economic Stabilization Act contained a link to a joint letter from the SEC and FASB providing gudiance on equity treatment of warrants under the program.
08-11-01 :
accounting: november 08
08-10-31 :
IASB Publishes Final Report Of Expert Advisory Panel On Fair Value
On Oct. 31, 2008 the IASB published the final Report of its Expert Advisory Panel on “Measuring and disclosing the fair value of financial instruments in markets that are no longer active.”
08-10-29 :
Highlights of SEC Roundtable on Mark-To-Market Accounting
On Oct. 29, 2008 the SEC convened a roundtable on mark-to-market (fair value) accounting. Highlights follow.
08-10-28 :
SEC Announces Panelists, Agenda For Oct. 29 Mark-To-Market Roundatble
On Oct. 27, 2008 the SEC announced the panelists and agenda for its October 29 roundtable on mark-to-market accounting
08-10-21 :
SEC Forum on Small Business Capital Formation To Be Held Nov. 20
On Oct. 21, 2008, the SEC announced that it's annual forum on small business capital formation will be held this year on Nov. 20, 2008.
08-10-21 :
FEI's CFIT Committee provides comments to the SEC on 21st Century Disclosure Initiative File #4-567
The Committee on Finance & Information Technology (“CFIT”) of Financial Executives International (“FEI”) desires to comment on the U.S. Securities and Exchange Commission’s (“SEC” or “Commission”) 21st Century Disclosure Initiative, File Number 4-567.
The Committee on Finance & Information Technology (“CFIT”) of Financial Executives International (“FEI”) desires to comment on the U.S. Securi
08-10-15 :
OTTI Guidance In SEC Letter To FASB
08-10-14 :
SEC Seeks Comment on Mark-To-Market Accounting; Roundtable Oct. 29
As part of its congressionally mandated study of mark-to-market (fair value) accounting, the SEC is holding a roundtable on Oct. 29 and posted a related Request for Comment.
08-10-10 :
FASB Plans To Issue Final FSP On Fair Value ‘Today or Tomorrow’
At its October 10, 2008 board meeting, FASB discussed comments received on Proposed FSP FAS 157-d on fair value in inactive markets, and voted to proceed with issuing a final FSP, and staff said they expect to be able to issue it 'today or tomorrow.'
08-10-08 :
FEI Issues Statement Commending Response To Credit Crisis
On October 8, 2008, Financial Executives International (FEI) issued a statement in response to the credit crisis.
08-10-07 :
Oct. 22 Deadline For Comment On SEC 21st Century Disclosure Initiative
In advance of its October 8, 2008 “Roundtable on Modernizing the SEC’s Disclosure System,” the SEC released a Notice/Request for Comment to solicit broader public input; comments are due Oct 22.
08-10-03 :
President Bush Signs Sweeping Financial Rescue Plan After House Passage
By a vote of 263-171, on Oct. 3, 2008, the House of Representatives voted to concur with the Senate version of the financial rescue bill, The Emergency Economic Stabilization Act of 2008.
08-10-03 :
FASB Releases Proposed FSP On Fair Value; Comments Due Oct. 9
On Oct. 3, 2008 FASB released Proposed FSP FAS 157-d, Determining the Fair Value of a Financial Asset in a Market That Is Not Active.
08-10-01 :
Senate Passes Financial Rescue Bill – EESA, Goes To House Next
On Oct. 1, 2008 the U.S. Senate passed the Emeregency Economic Stabilization Act of 2008, a bill aimed at rescuing the financial markets and the broader economy from the current market turmoil. The next step is to go to the House for approval; a voted is expected by Fri., Oct. 3.
08-10-01 :
SEC-FASB Issue Joint Guidance On Fair Value Accounting
On Sept. 30, 2008, the SEC and FASB jointly issued guidance on use of fair value accounting in inactive markets. Separately, FASB voted on October 1 to propose further guidance in the form of an example(s).
08-09-29 :
Emergency Economic Stabilization Act Awaits Congressional Vote
Congress is set to vote this week on the Emergency Economic Stability Act of 2008 (EESA). Mark-to-market accounting provisions are mentioned in the bill.
08-09-29 :
FASB Drafting Guidance On Fair Value In Inactive Markets, BNA Reports
On Sept. 29, 2008, Steve Burkholder wrote in BNA’s Daily Report for Executives, that: “FASB Staff Crafting Guidance to Help Gauge Fair Value in Inactive Markets.”
08-09-28 :
Sections 132, 133 Of Emergency Economic Stability Act of 2008
Mark-to-market (MTM) accounting – also called fair value accounting - is addressed in Sections 132 and 133 of the Emergency Economic Stability Act of 2008 (EESA).
08-09-24 :
SEC Posts More Information On Its 21st Century Disclosure Initiative
On Sept. 16, 2008, the SEC posted additional information on its previously announced 21st Century Disclosure Initiative (“21CDI”).
08-09-24 :
American Bankers Association Asks SEC To Provide Immediate Guidance On Fair Value
08-09-23 :
Bernanke Tells Senate: Auction Will Help Facilitate Held-To-Maturity Vs. Fire Sale Price
At a Senate Banking hearing on Sept. 23, 2008, Federal Reserve Board Chairman Ben Bernanke advocated against suspending mark-to-market accounting, but noted he believes Treasury's proposed auction process for subprime securities would help determine a held-to-maturity vs. fire sale value.
08-09-18 :
Proposed Changes To Securitization, Off-Balance Sheet Rules Subject Of Senate Hearing
On Sept. 18, 2008 the Senate Banking Committee, Securities Subcommittee, convened a hearing on FASB's recent proposed amendments to its standards on securitization and off-balance sheet entities.
08-09-15 :
SEC Small Business News: Voluntary Online Filing of Form D Begins, Mandatory Next Spring
The SEC recently launched voluntary filing of Form D by small companies, and issued a Small Business Compliance Guide on this process.
08-09-04 :
SEC Names Paul Beswick Deputy Chief Accountant - Professional Practice
On Sept. 3, 2008 the SEC named Paul Beswick Deputy Chief Accountant -Professional Practice.
08-09-01 :
compensation: september 08
New research shows that while companies are disclosing more about their incentive plans — in response to the SEC’s new rules — they have a long way to go before reaching full compliance.
08-08-27 :
Detailed Summary: SEC Votes to Release Roadmap for Adoption of IFRS
The SEC voted on Aug. 27, 2008 to propose for public comment a roadmap for the potential use of IFRS by U.S. issuers, for purposes of their filings with the SEC. Separately, the SEC considered three matters relating to foreign private issuers and cross border business combinations.
08-08-27 :
SEC Votes To Release Roadmap For Adoption Of IFRS
On Aug. 27, 2008 the SEC voted to release its IFRS roadmap for public comment.
08-08-26 :
SEC Approves PCAOB Rules On Communication With Audit Committees, Tax Services
08-08-22 :
SEC To Consider Proposing IFRS Roadmap On Aug. 27
The SEC will consider whether to propose its IFRS Roadmap at an open commission meeting on August 27.
08-08-19 :
SEC Replacing EDGAR With IDEA Platform; Updates 21st Century Disclosure Project
On Aug. 19, 2008, the SEC announced that it is replacing the EDGAR system with a new system called IDEA, short for Interactive Data Electronic Applications.
08-08-06 :
SEC Priorities Outlined By Chairman Christopher Cox
SEC Chairman Christopher Cox outlined the SEC's priorities for the remainder of this year at a press conference held on August 4, 2008.
08-08-06 :
Summary Of SEC IFRS GAAP Roundtable
On Aug. 4, 2008 the SEC held a Roundtable on the Performance of IFRS and U.S. Generally Accepted Accounting Principles During the Subprime Crisis. FEI member Bob Laux, senior director, Financial Accounting and Reporting, Microsoft Corp., participated in the roundtable. Following is a summary of the roundtable.
08-08-06 :
Closing Remarks Of Panel 2 - SEC Aug. 4 Roundtable
Following are closing remarks of Panel 2 at the SEC's Aug. 4 roundtable on the Performance of IFRS and U.S. GAAP during the Subprime Crisis.
08-08-06 :
Additional Highlights From SEC Roundtable On IFRS, U.S. GAAP
Following are additional highlights from SEC's Aug. 4, 2008 roundtable on Performance of IFRS and U.S. GAAP During the Subprime Crisis.
08-08-06 :
Closing Remarks Panel 1 - SEC Aug. 4 Roundtable
Following are closing remarks from panel 1 at SEC's Aug. 4 Roundtable on the Performance of IFRS and U.S. GAAP During the Subprime Crisis.
08-08-04 :
FEI's CCR and CFIT Committees Provide Views on SEC's XBRL Letter
08-08-04 :
SEC Will Immediately Begin Looking At Recommendations In CIFIR Report, Says Cox
On August 1, 2008, SEC Chairman Christopher Cox received a copy of the final report of the SEC Advisory Committee on Improvements to Financial Reporting (CIFiR) and said he has asked the SEC staff to immediately begin analyzing the recommendations for potential commission action.
08-08-04 :
FEI's CCR and CFIT Committees Provide Views on SEC's XBRL Letter
08-07-31 :
SEC Complexity Committee Approves Final Report; Press Conference Tomorrow
On July 31, 2008 the SEC Advisory Committee on Improvements to Financial Reporting (CIFiR or the ‘Pozen Committee’ for chair Robert Pozen) voted to approve publication of its final report. A press conference will take place tomorrow (August 1), said Pozen.
08-07-30 :
SEC Releases Guidance On Use Of Corporate Web Sites; Seeks Comment
At its open commision meeting on July 30, 2008, the SEC voted to issue guidance in an Interpretive Release on the use of company websites.
08-07-29 :
IFRS, U.S. GAAP Performance In Subprime Crisis: Topic Of SEC Aug. 4 Roundtable
08-07-14 :
Highlights of SEC’s July 9 Fair Value Roundtable; SEC Seeks Comment By July 23
Following is a detailed summary of highlights from SEC's July 9, 2008 Fair Value Accounting roundtable.
08-07-11 :
Accounting Roundup, Second Quarter In Review 2008, By Deloitte
08-07-11 :
SEC's Complexity Committee Agrees On Draft Report; Final Report Coming
SEC's Advisory Committee on Improvements to Financial Reporting (CIFiR) unanimously passed all recommendations in its Draft Final Report at its meeting on July 11, 2008.
08-07-09 :
SEC, FASB, PCAOB To Consider Next Steps In Fair Value Guidance
In closing remarks following SEC’s Roundtable on Fair Value Accounting held on July 9, 2008, SEC Chairman Christopher Cox noted the SEC, FASB and PCAOB will staff will meet to consider next steps in fair value guidance.
08-07-07 :
SEC, FRB Sign MOU Further Solidifying Information Sharing, Cooperation
08-06-27 :
Senate Confirms Three New SEC Commissioners
On June 27, 2008 the Senate confirmed the nominations of three new SEC commissioners.
08-06-25 :
SEC To Release Additional Proposals On Credit Rating Agencies, Annuity Contracts, More
At its June 25, 2008 open commission meeting, the U.S. Securities and Exchange Commission (SEC) voted to release for public comment rule proposals relating to credit rating agencies, regulation of certain annuity contracts, and foreign broker-dealers. Separately, the SEC agreed to adopt interpretive guidance and related rule amendments to streamline the rule filing process of SROs.
08-06-24 :
SEC Launches Disclosure Study; Advisory Committee To Be Formed
On June 24, 2008, the U.S. Securities and Exchange Commission (SEC) announced the kickoff of the “21st Century Disclosure Initiative,” to study how information is obtained by the SEC from public companies, mutual funds, brokers and other regulated entities, and how it is made available to, and used, by investors and the markets.
08-06-20 :
SEC Invites Comments Ahead Of Its July 9 Fair Value Roundtable
08-06-20 :
Small Cos. Get Delay From SEC On Sarbanes-0xley Section 404b Requirement
08-06-16 :
‘Full Blown’ IFRS May Not Be Desired By, Relevant For Private Cos, Panelists Tell FASB
The ‘full-blown’ set of International Financial Reporting Standards (IFRS) may not be the first choice of private companies in deciding if and when to adopt IFRS, vs. adopting alternatives like the International Accounting Standards Board’s (IASB’s ) current project on IFRS for Private Entities, panelists said at a FASB forum on Global Accounting Standards on June 16, 2008.
08-06-11 :
SEC Approves Release Of Two Proposed Rules On Credit Ratings, Credit Rating Agencies
The SEC approved the release of two rule proposals on June 11, 2008, relating to credit ratings and credit rating agencies. A third proposal will be considered at SEC's June 25 meeting.
08-06-06 :
‘IFRS And U.S. Companies: A Look Ahead’ – Speech By SEC's John White At FEI Conference
08-06-04 :
Summary Of SEC Proposed Rule On XBRL
Following is a detailed summary of the SEC's proposed rule published May 30, 2008, "Interactive Data to Improve Financial Reporting."
08-06-04 :
COSO Releases ED On Monitoring Internal Control
08-05-30 :
SEC Posts Proposed Rule For Providing Financials in XBRL; Comment Deadline Aug. 1
08-05-20 :
SEC Seeks Comment On Updated CIFIR Recommendations
08-05-20 :
Panel Testifying To CIFiR Split On Role Of Non-Authoritative Guidance
08-05-20 :
Highlights From CIFiR Meeting
Following are highlights from the May 2, 2008 meeting of the SEC Advisory Committee on Improvements to Financial Reporting (CIFiR).
08-05-14 :
SEC Proposing XBRL Phase-in For Large Public Cos. By Dec., Smaller Cos. To Follow
May 14, 2008, the U.S. Securities and Exchange Commission (SEC) voted to release for public comment a proposed rule regarding requirements for public companies to file certain data with the SEC using data tags in eXtensible Business Reporting Language (XBRL).
08-05-06 :
Commissioner Atkins Announces Intent To Leave SEC
08-05-05 :
Treasury Committee On Audit Profession Publishing Draft Report For Comments
08-05-02 :
SEC Complexity Committee Updates Recommendations
08-05-01 :
FEI IFRS Conference June 5, 2008: Updated Agenda, Speakers
08-04-22 :
KPMG Forms IFRS Institute
08-04-21 :
SEC To Consider XBRL Rulemaking May 14; U.S. GAAP Taxonomies Completed
08-04-16 :
SEC To Meet April 21 To Consider XBRL Proposal
08-04-14 :
SEC General Counsel Says XBRL Proposal Will Be Considered 'In The Near Future'
08-04-09 :
U.S. Treasury Releases Restatements Study
On April 9, 2008, the U.S. Treasury Department releases its study of restatements.
08-04-07 :
SEC Posts Sample Letter Outlining Requirements For Fair Value Disclosures In MD&A
08-04-02 :
FASB Responds To SEC Request To Address QSPE Issue in FAS 140
Actions taken at FASB’s April 2, 2008 board meeting to remove the concept of QSPEs from FAS 140 and FIN 46R appear in part to be responsive to a request from the SEC.
08-04-02 :
FEI's Technical Committees (CFIT) and (CSMPC) respond to the CIFiR’s interim recommendations.
FEI’s Committee on Finance and Information Technology (“CFIT”) and FEI’s Committee on Small and Mid-Sized Public Companies (“CSMPC”) in response to the CIFiR’s interim recommendations. An additional response will be provided separately by FEI’s Committee on Corporate Reporting later this week (“CCR”).
08-04-02 :
FASB Votes To Remove QSPE Concept From FAS 140, Scope Exception From FIN 46R
08-04-02 :
FEI's Technical Committees (CFIT) and (CSMPC) respond to the CIFiR’s interim recommendations.
FEI’s Committee on Finance and Information Technology (“CFIT”) and FEI’s Committee on Small and Mid-Sized Public Companies (“CSMPC”) in response to the CIFiR’s interim recommendations. An additional response will be provided separately by FEI’s Committee on Corporate Reporting later this week (“CCR”).
08-03-31 :
Treasury Releases Blueprint On Modernizing Regulatory Structure
On March 31, 2008, the U.S. Treasury Department released its Blueprint for a Modernized Regulatory Structure.
08-03-28 :
President Bush Announces Intent To Nominate Aguilar, Walter As SEC Commissioners
President Bush on March 28, 2008 announced his intent to nominate Luis Aguilar and Elisse B. Walter as commissions at the U.S. Securities and Exchange Commission.
08-03-19 :
Summary Of SEC CiFIR - 'Complexity Committee' Meeting March 13-14
Following is a summary of the SEC Advisory Committee on Improvements to Financial Reporting (CiFIR or the Pozen committee for chair Robert Pozen, also referred to as the 'complexity committee') meeting held March 13-14, 2008.
08-03-06 :
Accounting Roundup, February 2008, By Deloitte
Review of current accounting and financial reporting developments, By Deloitte
08-02-26 :
PCAOB Proposes Tightening of Engagement Quality Review
The PCAOB voted on Feb. 26, 2008 to release for public comment a proposed auditing standard to tighten the requirements for auditors to conduct an Engagement Quality Review (EQR) – commonly referred to as a concurring partner or second partner review – by requiring all registered audit firms to conduct EQRs for all engagements conducted under PCAOB standards.
08-02-11 :
CIFiR Votes To Issue Progress Report To SEC, Will Seek Public Comment
Earlier today, the SEC Advisory Committee on Improvements to Financial Reporting (CIFiR, also called the Pozen committee for chair Robert Pozen) voted to release its progress report containing 12 “developed proposals” (and additional “conceptual approaches” and “matters for further consideration” ) to the SEC, and for public comment.
08-02-10 :
Professional Judgment Framework in CIFiR's Draft Progress Report
08-02-06 :
SEC's 2008 Priorities Outlined By Chairman Cox, Corporate Finance Director White
In speeches, Chairman Cox and Corporate Finance Director outlined the SEC's 2008 priorities
08-02-06 :
SEC 'Complexity Committee' To Vote On 12 Recommendations In Draft Progress Report
The SEC Advisory Committee on Improvements to Financial Reporting (CIFiR) is scheduled to meet on February 11 to vote on issuing a Progress Report to the SEC. The Draft Progress Report posted by the SEC on February 6 contains 12 recommendations.
08-02-06 :
Summary of CIFiR's 12 Recommendations In Feb. 11 Draft Progress Report
Following is a summary of the 12 recommendations contained in the Draft Progress Report to be discussed by the SEC Advisory Committee on Improvements to Financial Reporting (CIFiR) at its February 11 meeting.
08-02-01 :
Sarbanes-Oxley 404(b) Extension For Small Cos.; Cost-Benefit Study Launched By SEC
Earlier today, the SEC proposed a one-year extension of the Sarbanes-Oxley Section 404(b) requirement for an external audit of internal control, for smaller companies. The proposed extension was announced in conjunction with the launch of SEC's study of the cost-benefit of complying with Section 404 under new guidance issued by the SEC and PCAOB in 2007.
08-01-31 :
SEC Comment Letters To Domestic, Foreign Registrants: Deloitte Special Report
08-01-29 :
SEC Publishes Small Entity Compliance Guide For New Rules Effective Feb. 4
On Jan. 25, 2008, the SEC published: “Changeover to the SEC’s New Smaller Reporting Company System by Small Business Issuers and Non-Accelerated Filer Companies: A Small Entity Compliance Guide.”
08-01-11 :
Proposals Adopted At SEC CIFR Meeting
Following is a list of proposals adopted at the January 11, 2008 meeting of the SEC Advisory Committee on Improvements to Financial Reporting (CIFR).
08-01-11 :
SEC Sets Sights On Reducing Complexity, CIFR Proposals Move Ahead
On Jan. 11, 2008, the SEC Advisory Committee on Improvements to Financial Reporting (CIFR) unanimously adopted all proposals contained in CIFR’s Draft Decision Memo (DDM), with the exception of a proposal to make XBRL mandatory, on which there was one dissenting vote.
08-01-11 :
Framework For Professional Judgment Recommended by SEC CIFR
Following is the “Framework for Professional Judgment in Accounting” recommended by the SEC Advisory Committee on Improvements to Financial Reporting (CIFR) in its Draft Decision Memo (DDM) dated January 11, 2008.
08-01-08 :
FASB Codification Coming Next Week; Five Years To IFRS?
FASB Chairman Robert Herz announced on a webcast earlier today (Jan. 8) that FASB will release its draft codification of all U.S. GAAP next week. Panelists also said five years would seem reasonable for a transition to IFRS in the U.S., with phasing in for smaller companies.
08-01-08 :
Accounting Roundup: Year In Review 2007, By Deloitte
Deloitte's Heads Up summarizes major events for 2007 at FASB, IASB, PCAOB, SEC, etc.
08-01-08 :
SEC Won't Object To Treatment Of Certain Mortgage Modifications; Disclosures Required
On Jan. 8, 2008, U.S. SEC Chief Accountant Conrad Hewitt, sent a letter to Sam Ranzilla, chairman of the AICPA's Professional Practice Committee, and Arnold C. Hanish, chairman of Financial Executives International’s (FEI’s) Committee on Corporate Reporting providing the views of the SEC staff on certain accounting and disclosure issues relating to mortgage modifications and related activity.
07-12-21 :
SEC Issues SAB 110 On Share-Based Payment
On Dec. 21, 2007, the U.S. Securities and Exchange Commission (SEC) issued SAB 110, extending certain provisions of SAB 107 relating to share-based payment (stock options).
07-12-19 :
IFRS Guidance - By PwC (Oct. 2007)
07-12-18 :
SEC Approves PCAOB Budget; Commissioner Atkins Dissents Over Board Salaries
On Dec. 18, 2007, the SEC voted to approve the 2008 budget of the PCAOB. The SEC also approved the related accounting support fee charged to public companies which funds the PCAOB.
07-12-17 :
Detailed Summary of SEC's Second IFRS Roundtable - Dec. 17, 2007
Following is a detailed summary of SEC’s second roundtable on implications of SEC potentially permitting – or requiring – U.S. public companies to adopt IFRS, held on Dec. 17, 2007.
07-12-17 :
Highlights From SEC's Second Roundtables On IFRS For U.S. Companies
On Dec. 17, 2007 the SEC held the second of two roundtables to gather feedback on potentially permitting – or requiring- U.S. companies to file their financial statements with the SEC using IFRS instead of U.S. GAAP.
07-12-13 :
FEI CEO's Top Challenges For Financial Executives In 2008
07-12-13 :
Detailed Summary Of SEC 's First IFRS Roundtable- Dec. 13, 2007
On Dec. 13, 2007, the SEC held the first of two roundtables aimed at gathering feedback on the ramifications of potentially permitting or requiring U.S. companies to file financial statements with the SEC in IFRS instead of U.S. GAAP.
07-12-13 :
Highlights From SEC First Roundtable On IFRS Adoption For U.S. Companies
On Dec. 13, 2007, the SEC held the first of two roundtables aimed at gathering feedback on the ramifications of the SEC potentially permitting or requiring U.S. companies to file financial statements in IFRS instead of U.S. GAAP. A number of FEI members are participating on the roundtables.
07-12-12 :
SEC Letter On Disclosure of Investments In Off Balance Sheet Entities
The SEC sent a letter in early December, 2007 to at least two dozen companies, reminding them of their disclosure obligations for investments in Structured Investment Vehicles (SIV’s), conduits, Collateralized Debt Obligations (CDOs), and other off-balance sheet entities.
07-12-12 :
FEI Members Participating On SEC IFRS Panels Dec. 13, 17
Four FEI members are among panelists appearing on the U.S. Securities and Exchange Commission’s (SEC’s) roundtables on International Financial Reporting Standards (IFRS) taking place on December 13 and December 17, 2007
07-12-10 :
SEC, PCAOB, FASB Leaders Speak At 35th Annual AICPA Conference
On Dec. 10-12, 2007, leaders from the SEC, PCAOB and AICPA spoke at the AICPA's 35th annual National Conference on Current SEC and PCAOB Developments.
07-12-06 :
SEC Asks Public For Comments On Interactive Disclosure, 'XBRL'
On Dec. 5, 2007, the SEC Office of Interactive Disclosure released for public comment computer lables to make fin. disclosures available in interactive data instead of text form.
07-11-28 :
SEC Clarifies Rule On Exclusion Of Shareholder Director Nominations
On Nov. 28, 2007, the SEC approved a final rule amendment on exclusion of shareholder director nominations. The SEC also approved a rule for Electronic Shareholder Forums.
07-11-15 :
SEC Adopts Small Company Regulatory Relief, More
On Nov. 15, 2007, the SEC voted to adopt rule amendments to expand the number of companies qualifying for scaled disclosure requirements, and to simplify those requirements.
07-11-15 :
CCR Comments to SEC on IFRS Concept Release
07-11-15 :
SEC Votes Unanimously To Drop IFRS Reconciliation Requirement
On Nov. 15, 2007, the SEC voted to drop the IFRS reconcilation requirement, effective immediately.
07-11-15 :
FEI, FAF, Audit Firms Weigh In On IFRS For U.S. Issuers
FEI, FAF, audit firms comment on SEC Concept Release on U.S. companies filing in IFRS
07-11-13 :
Cynthia Cooper Keynotes Day Two Of FEI CFRI Conference
07-11-13 :
FEI 26th Annual Financial Reporting Conference Highlights
highlights from day one and day two of CFRI.
07-11-06 :
SEC Regulations Committee, SEC Staff Meet, Heads Up, By Deloitte
summary of the Oct. 11, 2007 of the SEC Regulations Committee, by Deloitte
07-11-02 :
Reports Of The Subcommittees Of The SEC’s ‘Complexity Committee’
Following is a summary of the reports of the subcommittees of the SEC Advisory Committee on Improvements to Financial Reporting, chaired by Robert Pozen, which met on Nov. 2, 2007.
07-11-02 :
Summary Of SEC ‘Complexity Committee’ Meeting
Following is a summary of the SEC Advisory Committee on Improvements to Financial Reporting meeting held Nov. 2, 2007.
07-10-31 :
Adopt IFRS? Twenty Percent Of U.S. Cos. Would Consider, Need Training
07-10-23 :
SEC Approves Zions Auction Process For Valuing Stock Options
On Oct. 17, 2007, the SEC issued a letter approving Zions Bancorp’s use of Employee Stock Option Appreciation Rights Securities (ESOARS) sold in an auction process, for valuing employee stock options.
07-10-17 :
SEC Feedback On Executive Compensation Disclosures, By Deloitte
SEC Feedback on Executive Comp Disclosures: 'Where's the Analysis?' Deloitte's Heads-Up, Oct 16, 2007
07-10-17 :
Auditors’ Role For Detecting Fraud To Be Examined By Treasury ACAP
The U.S. Treasury Department’s Advisory Committee on the Audit Profession (ACAP) held its inaugural meeting on Oct. 15, 2007.
07-10-15 :
Highlights from Treasury Advisory Committee on the Audit Profession-SUMMARY FOR FEI BLOG
07-10-15 :
Highlights from Treasury Adv Comm on Audit Profession Mtg
Following are some of the highlights from the Oct. 15, 2007 inaugural meeting of Treasury's Advisory Committee on the Audit Profession.
07-10-11 :
Treasury Seeks Public Comment on Regulatory Reform
treasury seeks public comment on regulatory reform
07-10-03 :
CAQ Publishes Guidance on Accounting for Certain Assets in Illiquid Markets
On Oct. 3, 2007, the Center for Audit Quality (CAQ) – affiliated with the American Institute of Certified Public Accountants (AICPA) – posted on its website CAQ Alert No. 2007-51, “CAQ Issues White Papers on Illiquidity in the Markets.”
07-10-02 :
FEI Members Named To Treasury Advisory Comm. On Audit Profession
07-09-26 :
CCR responds to SEC Advisory Committee on Improvements to Financial Reporting
07-09-26 :
FEI Responds to SEC IFRS Proposal
07-09-25 :
Foreign Private Issuers Financial Statements in IFRS without Reconciliation to U.S. GAAP
07-09-25 :
Letter from Six Law Professors to SEC Chairman Cox on Securities Litigation (Aug. 2, 2007)
07-09-25 :
Detailed Summary of SEC Press Conference On XBRL
07-09-25 :
SEC Says U.S. GAAP Taxonomy Completed; Proposing XBRL Rule In Spring
07-09-21 :
SEC To Announce 'Major Breakthrough' in XBRL Sept. 25
07-09-19 :
CAQ Puts Valuation Guidance on Fast Track for Subprimes, Related Securities
07-09-07 :
SEC Issues Comment Letters On Executive Compensation Disclosures
The SEC recently sent over 300 comment letters to companies on their executive compensation disclosures.
07-08-14 :
SEC’s White Provides Update On Corporate Finance Initiatives
On Aug. 14, 2007, John White, Director of the Division of Corporation Finance of the SEC, spoke to the American Bar Association (ABA) in a speech entitled “Corporation Finance: An Interim Report.” White provided an update on the 11 items on Corp Fin’s agenda outlined in an earlier speech given in February, 2007, and added three new items.
07-08-08 :
SEC Seeks Comments On Reporting Under IFRS By U.S. Companies
On Aug. 8, 2007, the U.S. Securities and Exchange Commission (SEC) posted its Concept Release seeking comment on allowing reporting by U.S. companies under International Financial Reporting Standards (IFRS) – specifically, IFRS as published by the International Accounting Standards Board (IASB).
07-08-06 :
SEC Regulations Committee, SEC Staff Hold 2nd Meeting of 2007
07-08-06 :
SEC Updates Auditor Independence FAQs
On Aug. 6, 2007, the U.S. Securities and Exchange Commission (SEC) posted seven new items to the SEC’s Auditor Independence Frequently Asked Question’s (FAQ) document.
07-08-02 :
Useful, Practical Improvements To Fin Rep Urged By SEC Committee
At the Aug. 2, 2007 inaugural meeting of the U.S. Securities and Exchange Commission (SEC) Advisory Committee on Improvements to Financial Reporting (CIFR), there was general consensus around Committee Chair Robert Pozen’s suggestion that, of the two primary groups impacted by financial reporting – investors and preparers – investors should take precedence. The needs of audit
07-08-01 :
Summary of Draft Discussion Paper - SEC Advisory Committee On Improvements To Financial Reporting
Following is a summary of the Draft Discussion Paper dated July 31, 2007 released by the SEC as the basis for discussion at the Aug. 2nd inaugural meeting of the SEC's Advisory Committee on Improvements to Financial Reporting. See also FEI's Four Point Plan for Reducing Complexity in Financial Reporting, published March 29, 2007.
07-08-01 :
FEI Members On SEC Committee To Improve Financial Reporting
07-07-26 :
House Financial Services Committee Chairman Frank Praises SEC
07-07-25 :
SEC Votes: AS5, Significant Deficiency, IFRS, Shareholder Proxy Access
At its July 25, 2007 open meeting, the SEC voted on the four matters described below relating to Sarbanes-Oxley Section 404 reporting (AS5 and the definition of Significant Deficiency), IFRS, and shareholder proxy access.
07-07-19 :
SEC Meeting July 25 on 404, IFRS, Proxy Access, More
On July 18, 2007, the SEC posted a “Sunshine Act Notice” announcing an Open Meeting scheduled for July 25. Separately, earlier today, the PCAOB announced an Open Board Meeting next Tuesday, July 24.
07-07-18 :
FEI Small Public Company Task Force Responds to SEC Proposal
07-07-10 :
Error In FAS 158 Transition May Not Require Restatement, Says SEC
07-07-10 :
Detailed Summary of SEC Staff Guidance on FAS 158 Transition Errors (Source: CAQ Alert)
Following are key points in the U.S. Securities and Exchange Commission (SEC) staff’s guidance as described in the Center for Audit Quality’s (CAQ’s) – affiliated with the AICPA – publication: CAQ Alert 2007-30, entitled: “Reexamining the Adoption of SFAS 158, Employers' Accounting for Defined Benefit Pension and Other Postretirement Plans.” FAS 158 is available here.
07-07-06 :
SEC Seeks Comment On Proposal For Small Co. Relief, Simplification
On July 6, 2007, the U.S. Securities and Exchange Commission (SEC) posted its proposed rule, "Smaller Reporting Company Regulatory Relief and Simplification."
07-07-05 :
SEC Commissioner Roel Campos Speaks on Principles vs. Rules
SEC Commissioner Roel Campos delivered a speech on June 14, 2007 entitled, “Principles vs. Rules.” If you are interested in how convergence may impact you and your business, see information further below about FEI’s Global Financial Reporting Convergence conference to be held Sept. 28 in New York City at http://www.fei.org/global .
07-07-03 :
IFRS Proposal By SEC Would Eliminate Reconciliation To U.S. GAAP
07-06-29 :
SEC Advisory Committee On Financial Reporting Meeting Aug. 2
The U.S. Securities and Exchange Commission (SEC) posted a Notice of Federal Advisory Committee Establishment and Notice of Meeting (the “Notice”), stating the first meeting of the SEC Advisory Committee on Improvements to Financial Reporting will be held August 2 at the SEC office in Washington, D.C., and will be open to the public
07-06-27 :
SEC Announces Committee To Study Financial Reporting Complexity
On June 27, 2007, U.S. Securities and Exchange Commission (SEC) Chairman Christopher Cox announced the formation of an SEC Advisory Committee on Improvements to Financial Reporting. Cox announced Robert F. Pozen, Chair of MFS Investments, who will chair the advisory committee.
07-06-27 :
Proxy Access Coming This Fall, SEC Tells Congress, More
Rules on shareholder proxy access should be in place by this fall, with a proposal potentially coming out later this summer, U.S. Securities and Exchange Commission (SEC) Chairman Christopher Cox told the House Financial Services Committee yesterday.
07-06-20 :
SEC: 404 Guidance, Proposes Definition Of 'Significant Deficiency'
07-06-13 :
SEC To Consider IFRS, E-Proxy, XBRL Rules At June 20 Open Meeting
On June 13, 2007, the SEC announced it will consider at an open commission meeting on June 20 whether to propose rules permitting foreign filers to file in International Financial Reporting Standards (IFRS) in the U.S. without reconciliation to U.S. GAAP. The SEC will also consider a final rules expanding e-proxy filing and a rule on XBRL by Mutual Funds.
07-06-13 :
SEC Posts AS5 For Public Comment, Comments Due July 12
On June 15, 2007 the SEC published a “Notice of Additional Solicitation of Comments” on PCAOB’s AS5, in additional to the Notice of Filing of AS5 published by SEC on June 7.
07-05-24 :
SEC, PCAOB Adopt Internal Control Standards (DETAILED SUMMARY)
Following is a detailed summary of the SEC's and PCAOB's rules relating to Sarbanes-Oxley Section 404, adopted at SEC’s May 23, 2007 open commission meeting, and PCAOB’s May 24 open board meeting.
07-05-24 :
SEC, PCAOB Adopt New Internal Control Standards
07-05-17 :
FEI Supports Treasury Secretary Paulson's Capital Markets Initiative
07-05-17 :
U.S. Treasury’s Capital Markets Action Plan
On May 17, 2007 U.S. Treasury Secretary Henry Paulson and Under Secretary Robert Steel announced the first steps in Treasury's Capital Markets Action Plan.
07-05-16 :
SEC Vote May 23: On 404, CRARA, Small Business/Private Placement
On May 16, 2007, the SEC formally announced it will meet on May 23 to consider final rules under Section 404 and certain other rulemaking.
07-05-14 :
Expected SEC Action Will Enhance IFRS In The U.S.
07-05-09 :
SEC Regs Committee Discuss FIN 48 In MD&A, FAS 158 On Pensions, More
07-04-30 :
SEC Office of Inspector General Report On SEC Staff Interpretive Guidance
On April 30, 2007, the SEC posted on its website four reports that were recently issued by its Office of the Inspector General (OIG).
07-04-30 :
SEC May Allow U.S. And Foreign Cos. To Choose U.S. GAAP Or IFRS
FEI Summary of the SEC's expected proposals; also included is KPMG's Defining Issues that
describes the SEC's announced plans to issue a Proposing Release requesting comments on rule changes that would give foreign private issuers a choice between using International Financial Reporting Standards or U.S. GAAP in filings
07-04-27 :
FEI Commends Sens. Dodd, Shelby To Table DeMint Amendment
07-04-18 :
SEC Warns Of FAS 159 Fair Value Option Arbitrage
In an April 4 speech, SEC Deputy Chief Accountant James Kroeker issued a warning about companies taking advantage of a provision for initial adoption of FAS 159, the Fair Value Option.
07-04-04 :
SEC Approves Staff Plan To Align SEC, PCAOB Internal Control Guidance
On April 4, 2007, as noted in this SEC press release, the SEC commissioners voted in support of the SEC staff's recommended approach to working with the PCAOB on aligning the SEC’s and PCAOB’s proposed guidance on internal control reporting. A detailed summary follows.
07-03-28 :
SEC Meeting April 4 To Align SEC, PCAOB 404 Proposals
07-03-21 :
PwC DataLine 2007-06: SEC Staff Ann. Re: "Critical Match Terms" Concept Under FAS 133
07-03-21 :
SEC Releases Final Rule on Foreign Private Issuer Deregistration
On March 21, 2007, the SEC voted unanimously to approve a final rule on foreign private issuer deregistration.
07-03-20 :
SEC XBRL Roundtable - Detailed Summary
Following is a detailed summary of the SEC’s Roundtable on Interactive Reporting (mainly, XBRL) held March 19, 2007. A shorter summary focusing on SEC Chairman Cox's remarks is also available on www.fei.org .
07-03-20 :
SEC Tagging Exec Comp in XBRL; Cox Says No Audit of XBRL (Now)
On March 19, 2007, at an SEC roundtable on interactive data (mainly, XBRL), SEC Chairman Christopher Cox said the SEC staff is tagging the executive compensation data filed by hundreds of companies and will make it available to the public in XBRL format by June. He also said there is not a need for auditors to attest to XBRL tagging [now].
07-03-19 :
Deloitte Heads Up: Using the Critical Terms Match Method for Evaluating Hedges
07-03-19 :
New EITF Consensus, KPMG’s Defining Issues
07-03-15 :
FEI Committee Weighs In On Credit Rating Agency Rulemaking
On March 15, 2007 FEI’s Committee on Corporate Finance (CCF) submitted written comments to the SEC on their proposed rulemaking implementing the Credit Rating Agency Reform Act of 2006. The legislation, which was passed late last year, would overhaul the way in which credit rating agencies can be recognized by the SEC.
07-03-13 :
Treasury Secretary Paulson: ‘Have We Struck The Right Balance?’
At the U.S. Treasury Conference on Capital Market Competitiveness, Treasury Secretary Paulson said the fundamental question is, “Have we struck the right balance between investor protection and market competitiveness?” Read a full summary and also read FEI’s response backing regulators’ call to reduce complexity in financial reporting.
07-03-12 :
SEC Roundtable On Eliminating Reconciliation To U.S. GAAP For Foreign Filers
07-03-12 :
Regulation Of The Capital Markets: U.S. Chamber Of Commerce Report
In advance of its "First Annual Capital Markets Summit,” to be held March 14, 2007, the U.S. Chamber of Commerce released the report of its Commission on Regulation of the U.S. Capital Markets in the 21st Century. A summary follows.
07-03-12 :
Accounting Roundup, February 2007, By Deloitte
07-03-08 :
SEC March 19 XBRL Panel To Focus On Issuers, Investors
07-03-06 :
SEC Announces Panelists for March 6 Roundtable on IFRS Roadmap
07-03-06 :
SEC Roadmap Commits Them To Eliminate IFRS Reconciliation By 2009
In opening remarks at the March 6, 2007 SEC roundtable on the IFRS Roadmap, SEC Chairman Christopher Cox said "The roadmap commits us to eliminate the reconciliation requirement by 2009." However, he said the roadmap is a plan, not an article of faith.
07-02-23 :
SEC Corporate Finance Chief John White Outlines 11 Agenda Items
On Feb. 23, 2007, John White, Director of the SEC's Division of Corporation Finance (Corp Fin), gave a speech in which he outlined 11 items on Corp Fin’s agenda for the coming year.
07-02-08 :
FEI CEO Supports SEC Hewitt's Call To Action On Complexity
07-02-08 :
Surviving Complexity Top Accounting Challenge For 2007: BNA
07-02-07 :
FEI President & CEO Letter to SEC Chief Accountant
07-02-05 :
SEC Names Deputy Chief Accountant, Posts Proposals, Guidance
On Feb. 5, 2007, the SEC announced it has named Jim Kroeker of Deloitte as new Deputy Chief Accountant for Accounting issues in the Office of the Chief Accountant (OCA). Kroeker fills the position vacated by Scott Taub in December. Separately, the SEC also posted certain proposed rules and other guidance.
07-02-01 :
President Bush: The State Of The U.S. Economy, 2007
07-01-31 :
SEC Proposes Credit Rating Agencies Rules, XBRL For Mutual Funds
At an open commission meeting on Jan. 31, 2007, the SEC voted unanimously to issue proposed rules in implementing the Credit Rating Agency Reform Act of 2006 (CRARA), and proposed rules expanding interactive data (such as XBRL) reporting for mutual funds under the voluntary XBRL program.
07-01-26 :
SEC Issues Staff Guidance On Exec Comp Disclosure Rule
On Jan. 24, 2007, the SEC Division of Corporation Finance posted a new section on www.sec.gov called: “Staff Compliance and Disclosure Guidance.” The first such guidance issued pertained to SEC’s Exec Comp disclosure rule, and further guidance on this topic is coming "soon."
07-01-24 :
SEC Final Rule On E-Proxy, Guidance On Backdating And Restatements
In January, 2007, the U.S. Securities and Exchange Commission (SEC) released its final rule on voluntary e-proxy filing, a related proposal to make e-proxy filing mandatory, and separately issued a “sample letter” to companies with guidance on restatements for stock options timing issues (such as backdating) and related disclosures expected by the SEC
07-01-24 :
Bloomberg, Schumer Release Report On N.Y., U.S. Competitiveness
On Jan. 22, 2006, New York City Mayor Michael Bloomberg and U.S. Senator Charles Schumer (D-NY) announced at a joint press conference the release of the highly anticipated report commissioned from McKinsey & Co, “Sustaining New York’s and the U.S.’ Global Financial Services Leadership.”
07-01-09 :
SEC, PCAOB Update, By Deloitte
07-01-08 :
Credit Suisse On ‘Key Takaways` From AICPA Reporting Conference
07-01-02 :
Analyzing SEC´s Revised Executive Compensation Rules, By KPMG
07-01-02 :
Stanford/Cornerstone Reports Securities Class Actions Down in 2006
On Jan. 2, 2007, Stanford's Securities Class Action Clearinghouse, in cooperation with Cornerstone Research, published its year-end report, “Securities Class Action Filings 2006: A Year in Review” (and related press release).
06-12-23 :
SEC Amends Exec Comp Disclosure To More Closely Align With FAS 123R
06-12-22 :
Highlights Of AICPA Conference On Current SEC, PCAOB Developments, Dec 06
06-12-21 :
Highlights From Todd Hardiman Speech On Materiality
On Dec. 12, 2006, SEC's Todd Hardiman gave a speech on materiality, at the AICPA's National Conference on Current SEC and PCAOB Developments. Highlights follow.
06-12-21 :
Detailed Summary of Todd Hardiman Speech On Materiality
What follows is a detailed summary of U.S. Securities and Exchange Commission (SEC) Division of Corporate Finance Associate Chief Accountant Todd Hardiman’s speech on materiality that was given at the AICPA national conference on Current SEC and PCAOB Developments, Dec. 12, 2006.
06-12-21 :
SEC Releases Proposed Management Guidance on 404
06-12-18 :
SEC Extends Section 404 Filing Deadlines For Small Companies
06-12-18 :
Detailed summary: SEC Final Rule Extends Section 404 Deadline for Small Co’s
Following is a detailed summary of SEC's Final Rule extending the deadline for small companies (defined by SEC as non-accelerated filers, generally, companies with less than $75 million market cap) to file their Sarbanes-Oxley Section 404 reports.
06-12-13 :
SEC Proposes Management Guidance, One Auditor Report For 404
06-12-13 :
DOJ Amends Thompson Memorandum On Waiver, Attorney Fees
06-12-13 :
Summary of DOJ’s McNulty Memorandum
Following is a summary of the McNulty Memorandum issued on December 12, 2006 by U.S. Department of Justice (DOJ) Deputy Attorney General Paul J. McNulty, amending and superseding previous guidance contained in DOJ’s Thompson Memorandum, on “Principles of Federal Prosecution of Business Organizations.”
06-12-12 :
Reduce Complexity, Increase Transparency, Says AICPA Vice Chair
06-11-30 :
Detailed Recommendations of the Committee on Capital Markets Regulation
Following is a detailed summary of the 32 recommendations contained in the Interim Report of the Committee on Capital Markets Regulation (“the committee”) released Nov. 30, 2006.
06-11-30 :
Committee on Capital Markets Regulation Calls for Legal, Regulatory Reform
06-11-29 :
Scott Taub, Deputy Chief Accountant, Announces Departure From SEC
06-11-17 :
SEC Gets Clean Opinion From GAO; Other Highlights From SEC Annual Report
06-11-08 :
Six Largest Audit Firms Propose New Reporting Model
On Nov. 8, 2006, the CEO’s of the six largest global audit firms issued a joint proposal, calling for a new business reporting model, reduced liability for auditors and forensic audit procedures on at least a rotating basis to reduce risk of fraud.
06-11-07 :
SEC Enforcement Cases Decline
06-10-19 :
AICPA SEC Regs Committee, SEC Staff Meet, 3rd Time in 2006
06-10-12 :
SEC To Discuss Section 404 Proposed Guidance Dec. 13
06-10-12 :
SEC Postpones Discussion of Rule 14a-8, Shareholder Nomination of Directors
06-09-25 :
SEC To Fund XBRL Code Writing, Interactive Edgar
On Sept. 25, 2006 the U.S. Securities and Exchange Commission (SEC) announced that it had award three contracts, totaling $54 million, to complete XBRL code writing and to rebuild EDGAR as an interactive database.
06-09-20 :
Highlights of House Financial Services Hearing on Sarbanes-Oxley
On September 19, the U.S. House of Representatives Committee on Financial Services held hearings on “Sarbanes-Oxley at Four: Protecting Investors and Strengthening the Markets."
06-09-19 :
FEI Responds To SEC Concept Release On Internal Control
View recommendations
06-09-19 :
SEC Staff Provides Views on Stock Option Accounting Practices
06-09-18 :
GAO Updates Restatement Data
On Sept. 18, 2006, the U.S. Government Accountability Office (GAO) released a followup report listing 396 financial restatements that have occurred between Oct. 1, 2005 and June 30, 2006.
06-09-18 :
SEC, PCAOB Chairmen Testify At Hearing On Sarbanes-Oxley
On Sept. 19, 2006, Chairman Christopher Cox of the U.S. Securities and Exchange Commission (SEC), and Chairman Mark Olson of the Public Company Accounting Oversight Board (PCAOB) testified before the U.S. House of Representatives Committee on Financial Services, at a hearing entitled, “"Sarbanes-Oxley at Four: Protecting Investors and Strengthening the Markets."
06-09-13 :
FEI Small Public Co. Task Force Comments Re Proposed 404 Delay
06-09-13 :
SEC Issues SAB 108 On Quantifying Misstatements
06-09-07 :
SEC Considering Proxy Rule Amendment for Director Nominations
06-08-22 :
Sec Finalizes Exec Comp., Proposes Extending 404 for Some, By Deloitte
The Securities and Exchange Commission (SEC) finalizes executive compensation disclosures and proposes extending Section 404 compliance deadlines for certain entities. These and more in this issue of Heads Up, by Deloitte.
06-08-14 :
SEC Publishes Final Exec. Comp. Rule, Seeks Comments On Re-proposed Portion
06-08-09 :
SEC Delays Foreign Filer 404 Deadlines, Proposes Small Co. Delay
On Aug. 9, 2006 the U.S. Securities and Exchange Commission (SEC) announced it is taking three actions to provide relief in the Sarbanes-Oxley Section 404 reporting deadlines for certain foreign filers, small companies and newly public companies/first-time foreign filers.
06-08-03 :
SEC and CESR Launch Workplan on Financial Reporting
06-08-03 :
SEC Names Palmrose Deputy Chief Accountant
06-08-02 :
GAO Issues Report On Financial Restatements
On Aug. 1, 2006, the U.S. General Accountability Office (GAO) released a report entitled, “Financial Restatements: Update of Public Company Trends, Market Impacts and Regulatory Enforcement Activities.” The report was published as a followup to GAO’s 2002 study of restatements. Highlights of the report were also published by GAO.
06-08-02 :
Treasury Secretary Paulson On The U.S Economy
06-07-26 :
SEC Approves Exec Comp Rules; Reproposes Non-Exec Comp Rules
On July 26, 2006, during an open meeting, the commissioners of the U.S. Securities & Exchange Commission (SEC) unanimously approved new amended disclosure rules for executive pay and agreed to repropose one area of the initial rule proposal regarding compensation disclosures for non-executive employees whose pay exceeded that of named executives.
06-07-25 :
SEC Names Conrad Hewitt Chief Accountant
06-07-20 :
SEC To Vote on Final Rule on Executive Compensation July 26
SEC to vote on final rule on Executive Compensation on July 26, 2006.
06-07-13 :
House Passes Credit Rating Agencies Bill
06-07-05 :
FASB, AICPA, GASB Seeking Comments, By Deloitte-July 2006
06-06-27 :
Treasury Secretary Nominee Henry M. Paulson Comments To Congress
06-06-23 :
SEC Recommends Continuous Surveillance Of Large Companies
06-06-20 :
AICPA SEC Regulations Committee Summary, By Deloitte
06-06-16 :
International Matters Addressed In SEC Fact Sheet, Enforcement Panel
06-06-09 :
SEC Announces Agenda, Speakers For June 12 XBRL Meeting
06-05-24 :
SEC, OFHEO Resolve Fannie Mae Special Investigation, Examination
06-05-23 :
Three More Companies To Furnish SEC Reports Using Interactive Data
06-04-24 :
FEI Comments On Proposed Executive Comp Regulations
06-04-04 :
FEI Small Public Company Task Force Comments to SEC on Advisory Committee Recommendations
06-03-29 :
17 Companies Join SEC Pilot Program on XBRL
|
|
|