AccountingLink

SEC/Other regulators

15 September 2014

Technical Line - GAO updates internal control standards for the federal government
The Government Accountability Office updated its internal control standards for the federal government (Green Book) to align them with the 2013 version of the internal control framework many companies use to assess internal control over financial reporting. Our Technical Line publication tells you what you need to know about the updated standards.

21 August 2014

The JOBS Act: 2014 mid-year update
With over two years since the enactment of the Jumpstart Our Business Startups Act (the Act), we look at US IPO market trends and analyze how emerging growth companies are using the relief available to them. We also provide an update on the SEC’s rulemaking under the Act and discuss what still remains to be done.

25 July 2014

To the Point - SEC adopts rules to minimize money market funds’ exposure to rapid redemptions
The rules require institutional prime money market funds to operate with floating net asset values after a two-year transition period. The rules also require boards of directors of non-government money market funds to impose fees on redemptions if a fund’s weekly liquid assets fall below 10% of its total assets. The boards of these funds will have the option of imposing fees or suspending redemptions for up to 10 days if a fund’s weekly liquid assets fall below 30%.

23 June 2014

Comment Letter - AICPA’s proposed statement on standards for attestation engagements
In our comment letter on the Proposed Statement on Standards for Attestation Engagements, Subject-Matter Specific Attestation Standards: Clarification and Recodification, we supported clarifying the standards in accordance with the clarity drafting conventions used in the proposed general attestation standard.

19 June 2014

Technical Line - Using the 2014 XBRL US GAAP Taxonomy
The SEC approved the use of the 2014 XBRL US GAAP, which adds tags for accounting standards updates, eliminates industry views and makes other changes. The 2012 version of the taxonomy is now unavailable for use, and companies that have been using it will need to use a newer version in their next periodic reports. Companies that use the 2013 taxonomy may continue to do so, but the SEC staff strongly encourages adoption of the latest version. Our Technical Line summarizes leading practices for selecting the most appropriate XBRL tags to help companies make the transition to the 2014 taxonomy.

15 May 2014

Transitioning to the 2013 COSO Framework for External Financial Reporting Purposes
Our Transitioning to the 2013 COSO Framework for External Financial Reporting Purposes publication discusses key differences between the 2013 Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and COSO’s original 1992 framework. It also highlights areas that management should consider in making the transition and provides a list of questions to help management evaluate whether existing systems of internal control address each of the 17 principles in the 2013 framework.

5 May 2014

To the Point - SEC moves ahead with modified conflict minerals reporting
The SEC’s Director of the Division of Corporation Finance said in a statement this week that registrants still need to file a Specialized Disclosure Report (Form SD), along with any required conflict minerals report (CMR), by the 2 June 2014 deadline to comply with portions of the conflict minerals rule that were upheld by the US Court of Appeals for the District of Columbia Circuit. Registrants will not be required to describe their products as "DRC conflict undeterminable" or “not found to be 'DRC conflict free'" in their CMR because the court said these requirements violate the First Amendment. Our To the Point publication describes the requirements that the SEC staff said are still in effect.

10 April 2014

Technical Line - PCAOB considers how to enhance the auditor’s report
The PCAOB held a public meeting last week at which auditors, investors, preparers and academics provided additional input on its proposal to enhance the auditor’s reporting model. Panelists generally supported the objective of making the auditor’s report more meaningful to users by requiring more than today’s pass/fail opinion, but their views on how to get there varied. The opinions expressed were generally consistent with the 240 comment letters the PCAOB received on its proposals through early April. Our Technical Line summarizes the public meeting and the comment letters.

28 March 2014

To the Point - Washington focuses on cybersecurity
The Securities and Exchange Commission held a roundtable this week at which the Commissioners and staff discussed with public and private sector representatives the cybersecurity challenges faced by market participants. The Commissioners also asked for public comment. This publication summarizes key topics discussed at the roundtable and summarizes congressional action on cybersecurity.

24 March 2014

Comment Letter - SEC 'Regulation A+' proposal
In our comment letter on the SECs proposed amendments to allow exempt public offerings under Regulation A of up to $50 million in a 12-month period, we recommend that the SEC consider additional opportunities to leverage disclosure requirements in existing SEC rules and regulations for registered offerings and scale those requirements for unregistered offerings conducted under Regulation A. We also encourage the SEC to clarify certain terminology and disclosure requirements in the proposal that could be difficult to interpret or apply.

12 February 2014

Comment Letter - Improving the transparency of audits
In our comment letter, we support identifying certain non-signing firms that have a significant role in an audit but do not support identifying the engagement partner in either the audit report or a public filing with the PCAOB because we don’t believe this would provide meaningful information to investors.

3 February 2014

Comment Letter - Crowdfunding
In our comment letter, we recommended that the SEC reconsider the financial reporting requirements it proposed for issuers that use a new crowdfunding exemption to raise up to $1 million a year by selling shares to investors over the internet. We said that the costs to comply with the proposed requirements in a crowdfunding offering and ongoing annual reporting would likely discourage use of the crowdfunding exemption, which was mandated by the Jumpstart Our Business Startups Act.

23 January 2014

Timeliness of executive compensation disclosures in registration statements
A registrant that files a registration statement on Form S-1 after its fiscal year-end must disclose executive compensation for its most recent fiscal year, even before it files its Form 10-K. A Form S-3 registration statement (other than an automatic shelf registration by a well-known seasoned issuer) filed after the filing of Form 10-K must disclose executive compensation for the most recent fiscal year, even if the proxy statement has not yet been filed. This document tells you what you need to know about the requirements for updating executive compensation disclosures in registration statements.

2 January 2014

To the Point - SEC staff recommends a comprehensive review of SEC disclosure requirements
The staff of the SEC issued its Report on Review of Disclosure Requirements in Regulation S-K (Study) recommending that the SEC undertake a comprehensive review of its disclosure requirements as they apply to all public companies. The Study was mandated by the Jumpstart Our Business Startups Act (JOBS Act), which required the SEC to analyze and consider areas within its disclosure regime that could be simplified and modernized for emerging growth companies (EGCs). Our publication summarizes the SEC staff’s findings and recommendations to be considered by the Commission for future revisions.

19 December 2013

To the Point - SEC proposes 'Regulation A+' to expand exempt offerings
The SEC proposed amendments to allow exempt offerings under Regulation A of up to $50 million within a 12-month period. The proposal, required by the Jumpstart Our Business Startups Act, would establish two tiers of offerings with different requirements, based on their size. Our To the Point publication summarizes what you need to know about the proposal.

18 December 2013

Comment Letter - Proposed auditing standards on the auditor's report and the auditor's responsibilities regarding other information and related amendments
In our comment letter, we supported the PCAOB's effort to enhance the auditor’s report. However, we believe that certain elements of the proposal may be difficult to apply in practice. We also expressed concerns that the proposed requirements for other information would significantly expand the auditor’s performance responsibilities and result in increased liability risks for audit firms. In addition, while we support more transparency about auditor tenure, we believe that these disclosures can be made outside the auditor’s report. We recommended changes to the proposal to address these concerns.

16 December 2013

2013 AICPA National Conference on Current SEC and PCAOB Developments
Our compendium summarizes comments of representatives of the Securities and Exchange Commission (SEC), the Public Company Accounting Oversight Board (PCAOB), the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) at last week’s 2013 AICPA National Conference on Current SEC and PCAOB Developments in Washington, D.C. They include (1) the SEC staff’s views on reducing disclosure overload, simplifying accounting standards and challenging the design and effectiveness of internal control over financial reporting, (2) discussions about the joint projects of the FASB and the IASB, (3) comments from SEC and PCAOB representatives on audit quality and transparency and (4) the SEC staff’s suggestions for year-end financial reporting.

4 December 2013

SEC Comments and Trends - December 2013 - Media and entertainment industry supplement
Our media and entertainment (M&E) supplement to our SEC Comments and Trends publication is intended to give you insights into the Securities and Exchange Commission (SEC) staff’s concerns and areas of focus involving M&E companies. This publication is based on our review of 101 public comment letters issued to more than 50 M&E registrants between February 2012 and September 2013. It should be read in conjunction with our SEC Comments and Trends - 2013 supplement (pdf, 420.1kb) , which discusses matters that relate to all registrants.

2 December 2013

Comment Letter - Pay ratio disclosure
In our comment letter, we focus on certain aspects of the proposal, including sampling methods and pay ratio computation. We also make recommendations that we believe would reduce the cost and burden on issuers, promote disclosure and enhance comparability. The proposal would require most issuers to disclose the median annual compensation of all of their employees (excluding the principal executive officer) and the ratio of that amount to the annual compensation of their principal executive officer.

29 November 2013

Comment Letter - Statement on standards for attestation engagements
In our comment letter, we supported the AICPA’s objective of addressing concerns about the clarity, length and complexity of the attestation standards. Additionally, we commented on several ways to increase consistency between examinations and audit engagements.

7 November 2013

Technical Line - How to apply S-X Rule 3-14 and the latest SEC staff guidance to real estate acquisitions
The SEC staff in the Division of Corporation Finance recently revised its guidance on the S-X Rule 3-14 reporting requirements for acquisitions of real estate operations. This publication updates our 4 September 2013 Technical Line to reflect clarifications from the SEC staff related to the evaluation of whether Rule 3-14 or Rule 3-05 applies to the acquisition of a legal entity that holds real estate and has non-leasing operations, the evaluation of individually insignificant acquisitions after the end of the distribution period and the financial information the staff will accept for a significant acquisition of a property subject to a triple net lease.

7 November 2013

Technical Line - Implementing the JOBS Act – Updated
The Jumpstart Our Business Startups Act (JOBS Act) gives private companies greater access to capital and makes it easier for certain companies to go public. This publication updates our 8 November 2012 Technical Line. It discusses recent actions the SEC has taken to fulfill its mandate under the JOBS Act, as well as clarifications the SEC staff has made to its responses to frequently asked questions.

7 November 2013

The JOBS Act: 18 months later
The Jumpstart Our Business Startups Act (the Act) was enacted on 5 April 2012 to give private companies greater access to capital and make it easier for certain companies to go public. A year and a half later, we look at the effects of the Act on the IPO market and analyze how emerging growth companies are using the relief available to them under the Act. We also provide an update on the SEC’s rulemaking to date under the Act and discuss what still must be done to implement its key remaining provisions.

7 November 2013

To the Point - Leading practices for a smooth IPO registration
The number of initial public offerings (IPOs) in the US has increased during 2013, which is likely to be the strongest year for IPOs since 2007. Understanding suggestions from the SEC staff and leading practices in the registration process will help a company meet its deadlines and have the flexibility to respond to market conditions. Our To the Point publication updates our 24 May 2012 edition based on recent observations from our extensive experience with companies that have successfully completed IPOs.

30 October 2013

Comment Letter - SEC reproposal on credit risk retention
In our comment letter to the SEC on the credit risk retention reproposal it issued jointly with other agencies, we focus on the consolidation accounting ramifications. The proposal would require sponsors of certain asset-backed securitizations to retain at least 5% of the credit risk. The rule was mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act.

24 October 2013

To the Point - SEC proposes rules to permit crowdfunding
The SEC voted unanimously to propose rules allowing private companies to raise up to $1 million a year in equity capital from potentially large pools of investors through a process called “crowdfunding,” as required by the Jumpstart Our Business Startups Act. The proposal would require companies to provide various disclosures in conjunction with the offerings and would create a regulatory framework for intermediaries to facilitate the transactions. Our To the Point publication summarizes what you need to know about the proposal.

26 September 2013

SEC Comments and Trends - 2013 supplement
Every year, we closely monitor the SEC staff's comments on public company filings to provide you with insights on the SEC staff's areas of focus. Our 2013 SEC Comments and Trends supplement highlights areas where we have seen the SEC staff increase its focus over the past year or where there have been significant developments. It is intended to be read along with our October 2012 SEC Comments and Trends (pdf, 2.6mb)  publication, which is more comprehensive. Our 2013 supplement discusses trends that affect all registrants as well as matters that relate to specific industries and foreign private issuers. Understanding these trends can help you as you head into the year-end reporting season.

26 September 2013

To the Point - Sweeping changes to auditor’s report may be on the horizon
The PCAOB has proposed significant changes to the auditor’s report, including requiring auditors to discuss any matters they consider “critical” to the audit. We support making the auditor’s report more useful but believe that several aspects of the proposal require careful consideration. This To the Point discusses what you need to know about the proposal.

19 September 2013

To the Point - SEC proposes rule requiring most companies to disclose 'pay ratio'
As mandated by the Dodd-Frank Act, the Securities and Exchange Commission (SEC) proposed a rule that would require most registrants to calculate and disclose the ratio of their principal executive officer’s total annual compensation to the median annual compensation of all other employees (the pay ratio). The SEC’s proposal would give companies significant flexibility in how to calculate the pay ratio. Our To the Point publication summarizes what you need to know about the proposed rule.

12 September 2013

Comment Letter - SEC money market proposal
In our comment letter, we agree with the SEC that investments in money market funds should continue to meet the definition of cash equivalents under US GAAP if, as proposed, the SEC (1) requires a floating net asset value for certain funds and/or (2) permits redemption fees of up to 2% and suspensions of redemptions for up to 30 days if a fund fails to meet specified liquidity levels. We concur that under any of the proposed alternatives, entities should regularly evaluate changes in circumstances and whether an investment in a money market fund continues to meet the requirements of a cash equivalent.

22 August 2013

Technical Line - Movin’ on up to accelerated filer status: You’ll need an audit of ICFR for this year
With the increase in equity values in 2013, many non-accelerated filers will be required to transition to accelerated filer status in their upcoming Form 10-K. In addition to preparing for the transition to larger company reporting timelines and disclosures, these registrants must obtain auditor attestation as to the effectiveness of their internal control over financial reporting (ICFR) under Section 404(b) of the Sarbanes-Oxley Act. Our Technical Line publication focuses on the transition from a filer status that allowed a Section 404(b) exemption and the timing of compliance with Section 404(b).

8 August 2013

To the Point - SEC finalizes sweeping changes to broker-dealer reporting rule
The SEC issued final amendments to the broker-dealer reporting rule, SEC Rule 17a-5. All broker-dealers will be impacted by the rule amendments for both periodic and annual reporting . Our To the Point publication summarizes key elements of the final rule.

11 July 2013

Technical Line - Reminders about 'cheap stock' as AICPA issues new Guide
The AICPA recently issued a new Guide that updates a 2004 Practice Aid on valuing private company equity securities issued as compensation. Our Technical Line publication discusses the changes and reminders about key considerations related to valuing private company equity securities when a company is planning an initial public offering.

11 July 2013

To the Point - SEC allows general solicitation and disqualifies ‘bad actors’
As required by the Jumpstart Our Business Startups Act, the SEC approved rules that will allow general solicitation and advertising in certain exempt securities offerings under Rule 506 of Regulation D and for offerings under Rule 144A of the Securities Act. The SEC also finalized a rule required by the Dodd-Frank Wall Street Reform and Consumer Protection Act to disqualify felons and other bad actors from participating in any exempt offerings under Rule 506. In addition, the SEC proposed amendments to enhance its ability to evaluate developments in offerings under Rule 506. Our To the Point publication summarizes what you need to know about the final rules and the proposal.

28 May 2013

Comment letter - PCAOB’s proposed framework for reorganizing its auditing standards
In our comment letter, we say that we do not support the proposed reorganization at this time. While we agree that reorganizing the standards may help users navigate them more easily, we disagree with the PCAOB’s assertion that the proposed reorganization would help avoid confusion between the PCAOB’s standards and the recently reorganized standards of the ASB or that the proposed structure would facilitate comparison of PCAOB and IAASB standards.

25 April 2013

Technical Line - Using the 2013 XBRL US GAAP taxonomy
The 2013 version of the XBRL US GAAP taxonomy includes new tags to reflect accounting standards updates, changes to address common reporting practices and other updates. The SEC is expected to approve the 2013 taxonomy for use by 20 May 2013, when the staff plans to make the 2011 taxonomy unavailable for use. The SEC staff strongly encourages companies to adopt the latest version. Our Technical Line is designed to help companies make the transition.

9 April 2013

The JOBS Act: One-year anniversary
The Jumpstart Our Business Startups Act (the Act) was enacted on 5 April 2012 to give private companies greater access to capital and make it easier for certain companies to go public. A year later, we look at the effects on the IPO market and analyze how emerging growth companies are using the relief available to them under the Act. We also provide an update of what still must be done to implement key provisions of the Act.

19 March 2013

To The Point - New group audit standard may require action by governments and their auditors
AICPA AU-C 600, "Special Considerations- Audits of Group Financial Statements (Including the Work of Component Auditors) is effective for fiscal years ending on or after December 15, 2012. Our To The Point publication summarizes how this standard may enhance the focus on identifying subsequent events.

14 February 2013

To the Point - Private Company Council acts quickly to set its initial agenda
At the second meeting of the PCC, the PCC and the FASB changed the staff's proposed private company decision-making framework and voted to expose the framework for public comment. The PCC also put three areas for potential exceptions or modifications to US GAAP for private companies on its agenda. Our To the Point summarizes those issues and other matters discussed at the meeting.

16 January 2013

SEC Comments and Trends - January 2013 - Life sciences industry supplement
Our life sciences supplement to our SEC Comments and Trends publication is intended to give you insights into the Securities and Exchange Commission (SEC) staff’s concerns and areas of focus involving life sciences companies.

14 January 2013

Comment letter - CFTC proposal on enhancing customer protection
In our comment letter on the CFTC’s proposal, Enhanced Protections Afforded Customers and Customer Funds Held by Futures Commission Merchants and Derivatives Clearing Organizations, we questioned the need for a requirement that auditors of FCMs be registered with and have undergone an examination by the PCAOB. We also said the proposal that deficiencies noted in such an examination must have been remediated to the satisfaction of the PCAOB within three years of a report would be unworkable. Instead, we recommended that the CFTC consider seeking statutory change to make auditors of FCMs subject to the registration and inspection requirements of the PCAOB or require that auditors of FCMs be registered with and subject to inspection by the PCAOB, similar to the requirement for auditors performing surprise examinations of investment advisers under the SEC's Custody Rule.

10 January 2013

SEC in Focus - January 2013
Our SEC in Focus provides an update on activities and events relating to SEC matters that occurred during the fourth quarter of 2012.

10 January 2013

To the Point - The PCAOB’s views on internal control audit deficiencies
The PCAOB has issued a report on its 2010 inspections that provides its views about the number and significance of deficiencies in audits of internal control over financial reporting (ICFR) for the eight domestic registered firms that it inspects annually. Our To the Point discusses how we are responding to the issues identified by the PCAOB, and our continued focus on improving audit quality in this area.

10 December 2012

2012 AICPA National Conference on Current SEC and PCAOB Developments
Our compendium summarizes comments of officials of the SEC, PCAOB, FASB and IASB at the 2012 AICPA National Conference on Current SEC and PCAOB Developments. Highlights included (1) views from the SEC staff on considerations for incorporating IFRS into the US financial reporting system, (2) discussions on the progress of the FASB's and the IASB's joint projects, (3) observations from SEC and PCAOB officials related to audit quality and (4) considerations from the SEC staff for year-end financial reporting.

29 November 2012

2012 SEC annual reports – Form 10-K
We have updated our SEC Financial Reporting Series to reflect all final SEC rules and interpretive guidance issued through 31 October 2012. This publication is intended as a reference tool for preparing annual reports on Form 10-K.

29 November 2012

2013 proxy statements - An overview of the requirements
Our proxy publication is a reference tool for use when preparing the annual meeting proxy statement. It reflects all final SEC rules and interpretive guidance issued through 31 October 2012.

29 November 2012

2013 SEC quarterly reports - Form 10-Q
We have updated our SEC Financial Reporting Series to reflect all final SEC rules and interpretive guidance issued through 31 October 2012. This publication is intended as a reference tool for preparing quarterly reports on Form 10-Q.

2 November 2012

Conflict minerals: new rules and next steps
Because of concerns about human rights abuses in “conflict minerals” mining, Section 1502 of the Dodd–Frank Act requires disclosures about the use of these minerals emanating from select countries. The SEC has issued a final rule to implement these new requirements. Find out what you need to know about the disclosure and reporting requirements and how we can help.

4 October 2012

SEC in Focus - October 2012 edition
This issue highlights the SEC’s final rule on conflict minerals and the SEC staff's Final Report on IFRS work plan.

4 October 2012

To the Point - The SEC's opportunity to consider disclosure overload
To address growing concern about the volume of required disclosures, we recommended to the SEC that it expand its review of registration requirements for emerging growth companies, as required by the JOBS Act, to include disclosures required for all public companies. Our To the Point publication summarizes our comment letter to the SEC in which we recommend qualitative criteria the SEC could use to alter or eliminate Regulation S-K disclosure requirements for all public companies. We also suggest an overhaul of the method in which information required by Regulation S-K is filed by public companies and distributed to investors.

27 September 2012

2012 SEC Comments and Trends
Our 2012 SEC Comments and Trends discusses the SEC staff's comments on public company filings to provide you with insights on the staff's areas of focus. Understanding the issues can help as you head into the year-end reporting season.

13 September 2012

Technical Line - Auditor communications with audit committees
The PCAOB issued a new standard that will change auditor communications with audit committees. The PCAOB also issued a release for audit committees about the inspection process. Our Technical Line publication tells you what you need to know about the standard and the release.

11 September 2012

Comment Letter - Section 108 of the JOBS Act - Regulation S-K Review
Our comment letter recommends that the SEC broaden the scope of its review and eliminate redundant or outdated disclosures for all issuers. We also suggest that informational disclosures that are not specific to a reporting period should appear in a company profile and that only new information should be included in periodic reports.

6 September 2012

To the Point - SEC proposes allowing solicitation and advertising in certain exempt offerings
The SEC proposed rules that would allow general solicitation and advertising for certain exempt securities offerings as required by the Jumpstart Our Business Startups Act. The proposed relief would apply to exempt offerings conducted under new Rule 506(c) of Regulation D, as well as resales of restricted securities under Rule 144A of the Securities Act. Our To the Point publication summarizes what you need to know about the proposed rules.

24 August 2012

To the Point - Final conflict minerals rule addresses many stakeholder concerns
The SEC approved a final rule requiring issuers to disclose their use of conflict minerals in their products and whether those minerals originated from the Democratic Republic of the Congo and neighboring countries. The rule was mandated by Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act in response to humanitarian concerns that trade in conflict minerals is financing armed groups in the region. Our To the Point publication summarizes the final rule.

24 August 2012

To the Point - Oil, gas and minerals issuers must disclose payments to governments
The SEC issued a final rule and amendments requiring issuers in resource extractive industries to disclose payments to the US and foreign governments.The rule was mandated by Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The rule requires all issuers engaged in the commercial development of oil, natural gas or minerals to disclose the amount of payments by type, by project and by government annually.

17 July 2012

To the Point - SEC staff releases Final Report on IFRS
The SEC staff issued its Final Report on its IFRS Work Plan summarizing its findings about a possible move to a set of global accounting standards. The report does not include a recommendation to the Commission about whether or how to incorporate IFRS into the US financial reporting system. The report notes that the Commission has not yet made a policy decision. We don't expect a decision before 2013. Our To The Point publication summarizes the report.

3 July 2012

SEC in Focus - July 2012 edition
This issue highlights the SEC staff’s focus on addressing implementation questions about the Jumpstart Our Business Startups Act.

25 June 2012

To the Point - SEC requires listing standards for compensation committees
Our To the Point summarizes a final rule directing national securities exchanges to adopt minimum listing standards related to compensation committees and their use of advisers (i.e., compensation consultants, independent legal counsel and other advisers). The SEC also amended proxy rules to require new disclosures about whether the use of compensation consultants raised any conflicts of interest.

14 June 2012

Technical Line - IPO financial statement accounting and disclosure considerations
Many companies have completed initial public offerings over the past two years, and the JOBS Act, which eases regulatory requirements for emerging growth companies, could encourage even more IPOs. Our To the Point summarizes the numerous financial statement accounting and disclosure requirements they must meet in IPO registration statements and subsequent periodic filings.

31 May 2012

Comment Letter - Proposed PCAOB auditing standard on related parties
Our comment letter supports the Board’s efforts to update the requirements of AU Section 334, Related Parties, and adopt other proposed amendments. We believe these actions have the potential to improve audit quality. However, we have some concerns with certain aspects of the proposal that are addressed in our letter.

30 April 2012

Comment Letter - PCAOB proposal on rules and form amendments related to broker dealers
Our letter to the PCAOB generally supports the proposed changes to the Board’s rules and forms to conform to the Dodd-Frank Act. The proposed amendments include references to audits and auditors of brokers and dealers in relevant Board rules and forms and other technical changes.

5 April 2012

SEC in Focus - April 2012 edition
This issue highlights capital formation initiatives, including the Jumpstart Our Business Startups Act (JOBS Act), which gives private companies greater access to capital and make it easier for certain companies to go public. The JOBS Act recently cleared Congress and was signed into law by President Obama.

4 April 2012

2011 SEC annual reports – Form 10-K
This publication is intended as a reference tool for preparing annual reports on Form 10-K. The publication was amended to reflect the final SEC mine safety disclosure rules.

4 April 2012

2012 SEC quarterly reports – Form 10-Q
This publication is intended as a reference tool for preparing quarterly reports on Form 10-Q. The publication was amended to reflect the final SEC mine safety disclosure rules.

30 March 2012

Comment Letter - Exposure draft of Internal Control - Integrated Framework
Our comment letter supports the Committee of Sponsoring Organization’s efforts to help organizations effectively and efficiently develop and maintain systems of internal control by enhancing the 1992 framework to reflect changes in the business and operating environment since its development. We also outline our concerns about the proposal and suggest modifications to clarify a number of areas in the proposed framework and to make it more helpful to users.

27 March 2012

To the Point - PCAOB public meeting on auditor independence and audit firm rotation
More than 40 panelists participated in the PCAOB public meeting to discuss ways to enhance auditor independence, objectivity and professional skepticism, including mandatory audit firm rotation. Many of the panelists opposed mandatory audit firm rotation and suggested alternatives. The Board also reopened the comment period on its August 2011 concept release until 22 April 2012. Our To the Point publication provides highlights of the two-day meeting.

23 March 2012

To the Point - JOBS Act to promote capital formation
The US House of Representatives, which already overwhelmingly approved a version of the JOBS Act bill, is expected to approve the Senate's version of the bill. If President Barack Obama signs it into law, as expected, the JOBS Act would represent a major change in how private companies can access capital through either the private or public markets. Our To the Point publication summarizes the Act and what it would mean.

22 March 2012

To the Point - PCAOB proposals on related parties and significant unusual transactions
The PCAOB has proposed an auditing standard on auditing transactions with related parties and amendments to its standards regarding auditing significant unusual transactions. Our To the Point tells you what you need to know about the proposal.

15 March 2012

Technical Line - Using the 2012 XBRL US GAAP taxonomy
The 2012 version of the XBRL US GAAP taxonomy includes several thousand updates, and the SEC is expected to approve it for use at the end of March. The 2009 taxonomy is expected to be unavailable for use shortly thereafter. The SEC staff strongly encourages companies to adopt the latest version. Our Technical Line is designed to help companies make the transition.

29 February 2012

Comment Letter - PCAOB proposal on communications with audit committees
Our letter supports the PCAOB's efforts to enhance communication with audit committees and provide additional information to help audit committees fulfill their oversight responsibilities. We believe the proposal will help enhance audit quality. Our comment letter also offers suggestions to improve the final standard.

26 January 2012

Technical Line - How to avoid XBRL errors in certain registration statements
The SEC staff recently identified common errors in XBRL submissions related to non-IPO registration statements. Our Technical Line publication describes these errors and provides an overview of the XBRL Exhibit requirements along with best practices for complying with the rules.

25 January 2012

Practical matters for the c-suite - SEC reminder: management is responsible for the output provided by third-party pricing services
This edition of Practical Matters complements our recent Technical Line on the SEC’s focus on a company’s internal controls over the use of prices and related information obtained from third-party pricing services -- information that is then reported in the company’s financial statements. The Practical Matters for the c-suite series is produced by our Financial Accounting Advisory Services (FAAS) group and is intended to offer practical insights around significant financial reporting and accounting issues.

19 January 2012

To the Point - PCAOB seeks comment on expanded audit committee communications
The Public Company Accounting Oversight Board (PCAOB) is seeking comment on a proposal that would require auditors to modify and expand their communications with audit committees beyond what the PCAOB and the Securities and Exchange Commission currently require.

9 January 2012

Comment Letter - PCAOB proposal to disclose engagement partner and certain other participants in audits
In our letter to the PCAOB on its proposal to improve the transparency of audits by disclosing the engagement partner and certain other participants in audits, we support additional disclosure of other participants but suggest modifications that would make the information more useful to users of financial statements and simpler for firms to compile.

5 January 2012

Technical Line - Respondents to PCAOB overwhelmingly oppose mandatory audit firm rotation
About 94% of the roughly 600 letters the PCAOB received on its concept release on possible ways to enhance auditor independence oppose mandatory audit firm rotation. It was the second largest number of responses the Board has received on a rulemaking project since it was created by the Sarbanes-Oxley Act of 2002. The PCAOB plans to hold a roundtable to gather more feedback in March 2012.

1 January 2012

SEC in Focus - January 2012 edition
Our SEC in Focus provides an update on activities and events relating to SEC matters that occurred during the fourth quarter of 2011.

12 December 2011

2011 AICPA National Conference on Current SEC and PCAOB Developments
Our compendium summarizes comments of officials of the SEC, the PCAOB and the FASB at the 2011 AICPA National Conference on Current SEC and PCAOB Developments in Washington, D.C., on 5-7 December 2011.

8 December 2011

To the Point - Support grows for keeping US GAAP but basing future standards on IFRS
The incorporation of IFRS into the US financial reporting system was once again a focus of discussion at the AICPA National Conference on Current SEC and PCAOB developments in Washington D.C. this week. Representatives from the SEC, FASB and IASB all indicated that the SEC could incorporate IFRS into the US financial system but retain US GAAP. Our To the Point publication tells you what you need to know about these developments.

21 November 2011

To the Point - SEC Staff issues two papers on IFRS
As part of its Work Plan to consider whether, and if so, when and how IFRS should be incorporated into the US financial reporting system, the SEC staff released two papers: A Comparison of US GAAP and IFRS and An Analysis of IFRS in Practice. Our To the Point publications provides a summary of these documents.

18 November 2011

Comment letter - PCAOB concept release on auditor independence and audit firm rotation
In our letter, we affirm our view that auditor independence, objectivity and professional skepticism are of paramount importance, but state that we do not believe mandatory audit firm rotation would improve audit quality or auditor skepticism. In fact, we believe it would harm corporate governance, investor interests and the objective of maintaining a robust, highly skilled independent accounting profession performing high-quality audits. In addition, we outline our ideas on measures that should be considered by the PCAOB to achieve its objectives and our views on other ideas presented in the concept release.

18 November 2011

Summary of key messages - PCAOB concept release on auditor independence and mandatory firm rotation
This document provides a summary of Ernst & Young's key messages to the PCAOB as expressed in our comment letter on the concept release on auditor independence and audit firm rotation.

1 November 2011

2012 proxy statements - An overview of the requirements
Our proxy publication is a reference tool for use when preparing the annual meeting proxy statement. It reflects all final SEC rules and interpretive guidance issued through 31 October 2011.

20 October 2011

To the Point - SEC staff issues guidance on cybersecurity disclosures
In response to an increase in the frequency and severity of cyber attacks and breaches, the SEC staff provided a framework for registrants to consider in evaluating whether to disclose information about risks and incidents involving cybersecurity. Our To the Point discusses the SEC guidance on cybersecurity disclosures.

6 October 2011

Comment Letter - Retrospective review of existing regulations
Our comment letter to the SEC strongly supports the SEC’s initiative to improve the retrospective review of its regulations.

3 October 2011

2011 SEC Comments and Trends - October 2011
Every year, we track the SEC staff’s comments on public company filings to provide you with insights on the SEC staff’s concerns and areas of focus. Although each registrant’s facts and circumstances are different, the economic conditions in which they operate and their financial reporting challenges are often similar. Understanding the issues discussed in our 2011 SEC Comments and Trends publication can help as you head into the year-end reporting season.

3 October 2011

SEC in Focus - October 2011 edition
Our SEC in Focus provides an update on activities and events relating to SEC matters occurring during the third quarter of 2011.

30 September 2011

Technical Line - What to consider when responding to the PCAOB about auditor independence and audit firm rotation
The PCAOB is seeking comment on its concept release on mandatory audit firm rotation to enhance auditor independence, objectivity and professional skepticism. Our publication outlines key questions to consider when preparing responses to the PCAOB. Given the potentially far-reaching implications, we believe it is important for the PCAOB to hear from all stakeholders so it can better consider and understand how the ideas outlined in the concept release would affect a company’s financial reporting risk, governance and costs. Comments are due by 14 December 2011.

12 September 2011

Comment Letter - PCAOB’s proposed attestation standards for broker-dealer engagements
Our comment letter support the PCAOB’s proposed effective date and recommends that the PCAOB (1) provide guidance for auditors when evaluating material non-compliance with the Financial Responsibility Rules, (2) provide guidance on specific engagement quality reviewer procedures to be performed in the contemplated engagements and (3) clarify certain concepts included in the proposing release and related existing PCAOB standards.

12 September 2011

Comment Letter - Proposed auditing standard related to auditing supplemental information
Our comment letter to the PCAOB supports its effort to update its interim standard and we agree that an “in relation to” report is the appropriate level of reporting for supplemental information. However, we state in our letter that we believe some of the enhancements are not consistent with the “in relation to” reporting model that was retained in the proposed standard.

26 August 2011

Comment Letter - Proposed rule on broker-dealer reports
Our comment letter on the SEC's proposed rule on broker-dealer reports generally supports the proposal because we believe it is a necessary step in updating broker-dealer financial reporting. We also believe the SEC's proposal would provide the clarity necessary for the PCAOB to develop and adopt appropriate auditing and reporting standards for auditors of registered broker-dealers.

8 August 2011

Comment Letter - Proposed rules for nationally recognized statistical rating organizations
Our comment letter discusses the SEC’s Nationally Recognized Statistical Rating Organizations (NRSRO) rule proposal that would include provisions requiring the issuer or underwriter of any asset-backed security (ABS) to make publicly available the findings and conclusions of third-party due diligence reports they obtain.

1 August 2011

Comment Letter - Credit risk retention
Our comments on this proposal are limited to (1) the possible consolidation accounting ramifications of the horizontal risk retention option and (2) the proposed agreed upon procedures report from an independent public accounting firm that would be required for a sponsor using a representative sample as a method to retain risk in the securitized assets.

12 July 2011

To the Point - SEC hears mixed feedback at roundtable on IFRS
The SEC staff is gathering feedback to help the commissioners decide whether, and if so, when and how to incorporate IFRS into the financial reporting system for US issuers. That decision is expected later this year. Our To the Point publication summarizes what you need to know about the roundtable held by the SEC in July 2011.

1 July 2011

2011 proxy season review: highlights and leading implications
Results from this proxy season reflect the growing challenge boards face in considering investor views on governance issues while ensuring that decisions are appropriate for company-specific circumstances. The newest issue of Proxy Perspectives provides top results and key takeaways from the proxy season, including in-depth looks at compensation matters in the first year of mandatory say-on-pay and trends in company-shareholder engagement.

1 July 2011

Dodd-Frank Act: One-year anniversary
One year ago, Congress adopted the Dodd-Frank Wall Street Reform and Consumer Protection Act. The anniversary of the law’s enactment affords an opportunity for all public companies to assess their progress and preparedness as various provisions are implemented. Public issuers should consider five current realities.

1 July 2011

SEC in Focus - July 2011 edition
Our SEC in Focus provides an update on activities and events relating to SEC matters that occurred during the second quarter of 2011.

30 June 2011

To the Point - PCAOB explores changes to the auditor's report
The PCAOB is seeking comment on a concept release that explores possible changes to the form and content of the auditor's report on financial statements. Our To the Point summarizes what you need to know about the four alternatives the PCAOB described and provides our views about each of them.

30 June 2011

To the Point - SEC turns spotlight on broker-dealer financial reporting and custody
The SEC has proposed a rule that would require broker-dealers with custody of assets to assert compliance with Financial Responsibility Rules and have an independent registered public accounting firm examine its compliance and issue a report based on that examination. Our To the Point publication summarizes what you need to know about the proposal.

23 June 2011

To the Point - SEC staff outlines common XBRL submission errors
The SEC staff, in its latest update on interactive data submissions, outlined errors it identified in XBRL files submitted in the first two months of 2011. Our To the Point outlines these errors. The largest accelerated filers should pay particular attention because their limited liability protection expires later this year.

1 June 2011

To the Point - SEC Staff Paper explores a way to incorporate IFRS in the US
Our To the Point summarizes the an approach for incorporating IFRS into the US financial reporting system that was first described by an SEC official as “condorsement.” A roundtable is scheduled for 7 July 2011.

26 May 2011

Comment Letter - Omnibus Statement on Auditing Standards - 2011
Our comment letter provides our views on the proposed Omnibus SAS. We generally support the proposal.

26 May 2011

To the Point - SEC allows whistleblowers to bypass corporate compliance programs
Our To the Point summarizes the SEC final rules that encourage whistleblowers to report possible securities law violations to corporate compliance programs but do not require internal reporting to receive an SEC award.

29 April 2011

Comment Letter - Clearing agency standards for operation and governance
Our comment letter supports the SEC proposal to allow a non-US- based clearing agency to post on its website audited financial statements prepared in accordance with either US GAAP or IFRS as issued by the IASB, without reconciliation to US GAAP.

21 April 2011

Technical Line - Using the XBRL US GAAP taxonomy
Our Technical Line is designed to help companies that are using XBRL for the first time and those that already are subject to mandatory XBRL tagging. It includes specific considerations for large accelerated filers moving from the 2009 taxonomy to the 2011 taxonomy, which became effective at the end of February 2011.

21 April 2011

To the Point - Key insights for companies with new XBRL requirements
Most accelerated and non-accelerated filers (Tier 3 companies) will be submitting their initial XBRL exhibits to the SEC and most large accelerated filers (Tier 2) will be submitting detail tagged XBRL exhibits for the first time. Our To the Point summarizes the experiences of the first wave of companies that began submitting XBRL exhibits to the SEC in 2009 and recently submitted detail tagged XBRL exhibits with their 2010 10-Ks.

21 April 2011

To the Point - Proposed risk retention requirements for sponsors of asset-backed securities
Our To the Point summarizes the proposed SEC risk retention requirements for sponsors of asset-backed securities.

7 April 2011

To the Point - Proposed listing standards for compensation committees
The SEC has proposed a rule directing national securities exchanges to adopt minimum listing standards related to compensation committees and their use of advisers Our To the Point summarizes the proposal, which is required by the Dodd-Frank Act.

2 March 2011

Comment Letter - Conflict minerals
Our comment letter brings up various concerns and issues related to the proposal as currently drafted.

1 March 2011

2011 SEC quarterly reports - Form 10-Q
Our 2011 quarterly reports addresses the SEC rules governing quarterly reporting in Form 10-Q.

1 February 2011

2011 proxy statements
Our 2011 proxy statements addresses the SEC reporting requirements related to proxy reporting.

31 January 2011

Comment Letter - Disclosure of payments by resource extraction issuers
Our comment letter notes that the cost and time required to obtain assurance on the Resource Extraction Issuers Exhibit might outweigh the benefits to users.

28 January 2011

Hot Topic - SEC adopts "say-on-pay" shareholder votes on executive compensation
Our Hot Topic summarizes the SEC's rule that requires proxy statements to provide shareholders non-binding votes on executive compensation.

1 January 2011

2010 SEC annual reports
Our 2010 SEC annual reports may be used as a reference tool when preparing annual reports on Form 10-K, as well as annual shareholders’ reports.

1 January 2011

SEC Comments and Trends - January 2011
Our SEC Comments and Trends provides an overview of the issues about which the SEC staff is focusing in its recent comments to registrants.

22 December 2010

Hot Topic - SEC proposes disclosure of payments to governments by issuers with oil and gas and mining operations
The Dodd-Frank Act requires the SEC to develop a rule that would require certain issuers to disclose in their annual reports payments they make to foreign governments or the US government related to the commercial development of oil, natural gas or minerals. Our Hot Topic provides an overview of the more significant aspects of the proposed rule.

22 December 2010

Hot Topic - SEC rule proposal: Conflict minerals disclosures
Our Hot Topic summarizes the SEC rule proposal that would require new disclosures by reporting issuers concerning conflict minerals that originated in the Democratic Republic of the Congo or an adjoining country.

1 December 2010

XBRL service providers and software vendors
Our publication will assist registrants in identifying and assessing XBRL service providers and software vendors.

15 November 2010

Comment Letter - Issuer review of assets in offerings of asset-backed securities
Our comment letter discusses the nature of procedures that accountants have historically performed related to ABS offerings. Analysis has shown that investors, as well as underwriters and issuers, in many cases did not adequately understand the risks of the assets underlying the ABS. We believe that Sections 945 and 932 of the Dodd-Frank Wall Street Reform Act were intended to mitigate these shortcomings by enhancing the understanding of the assets underlying the ABS.

5 November 2010

Technical Line - XBRL update: 2010 observations and insights
On 1 November 2010, the SEC staff addressed XBRL filing issues. Our Technical Line highlights SEC staff XBRL initiatives as well as our own observations from working with clients as they prepared their XBRL submissions.

3 November 2010

Hot Topic - SEC issues first Progress Report on IFRS Work Plan
Our Hot Topic summarizes the SEC staff's first Progress Report on its Work Plan related to the possible move to a set of global accounting standards.

27 October 2010

Hot Topic - SEC proposal: "Say-on- pay" shareholder votes on executive compensation
Our Hot Topic provides an overview of the more significant aspects of the SECs say-on-pay proposal.

22 September 2010

Hot Topic - SEC issues MD&A guidance: Liquidity and capital resources
In September 2010, the SEC published interpretive guidance intended to improve liquidity and capital resources disclosure in MD&A. Our Hot Topic provides an overview of the more significant aspects of the SEC guidance.

22 September 2010

Hot Topic - SEC proposal: Short-term borrowings disclosures in MD&A
In September 2010, the SEC unanimously voted to issue a proposal expanding short-term borrowings disclosure in MD&A. Our Hot Topic provides an overview of the more significant aspects of the proposal.

13 September 2010

Comment Letter - PCAOB proposed auditing standard–confirmation
Our comment letter provides our views on the PCAOB's proposed rule on audit confirmations.

1 September 2010

Hot Topic - SEC final rule: Facilitating shareholder director nominations
Our Hot Topic provides an overview of the more significant aspects of the final rule changing the proxy requirements to facilitate director nominations by shareholders (“proxy access”).

30 July 2010

Hot Topic - Annual re-assessment of compliance with SEC XBRL phase-in
Our Hot Topic summarizes recent developments in the SEC interactive data mandate. Specifically, the SEC staff has clarified how the annual measurement of a registrant’s worldwide public float can change its membership in an XBRL phase-in group.

27 July 2010

Financial Regulatory Reform: Q&A on the Dodd-Frank Wall Street Reform and Consumer Protection Act
Our report provides high-level observations on provisions within the law that affect the financial services sector, the broader corporate community and the accounting profession.

21 July 2010

Hot Topic - SEC Concept Release: US proxy system
Our Hot Topic summarizes an SEC Concept Release on whether the US proxy system is operating with the accuracy, reliability, transparency and integrity shareholders and issuers should expect.

1 July 2010

Regulatory implications for private fund advisors
Our report provides a roadmap for implementing US financial reform for private fund advisors.

1 June 2010

Financial services: An enhanced culture of compliance
Our publication discusses the challenges faced by alternative asset managers as an opportunity to improve compliance over the long term.

27 May 2010

Comment Letter - Communications with Audit Committees
Our comment letter provides our views on the PCAOB's proposal on communications to audit committees.

16 April 2010

Hot Topic - SEC proposal: Asset-backed securities
Our Hot Topic summarizes the SEC's proposed amendments to Regulation AB regarding the offering, disclosure and reporting processes for publicly issued asset-backed securities (ABS).

9 April 2010

Hot Topic - PCAOB proposes auditing standard on communication with audit committees
Our Hot Topic summarizes a PCAOB proposal on communications with audit committees.

5 March 2010

Hot Topic - SEC final rule: Money market fund reform
Our Hot Topic discusses the SEC rule that amends money market fund requirements under the Investment Company Act of 1940.

1 March 2010

2010 SEC quarterly reports-Form 10-Q
Our 2010 SEC quarterly reports addresses the SEC rules governing quarterly reporting in Form 10-Q.

1 March 2010

Comment Letter - PCAOB Reproposed Risk Assessment Standards
This comment letter provides our views on the PCAOB's proposed risk assessment standards.

24 February 2010

Hot Topic - SEC reaffirms its commitment to IFRS
Our Hot Topic summarizes the February 2010 SEC statement reaffirming its longstanding commitment to the goal of a single set of high-quality global accounting standards.

3 February 2010

Hot Topic - SEC issues guidance on climate change disclosures
Our Hot Topic summarizes SEC interpretive guidance regarding how its current disclosure requirements apply to climate change matters.

1 February 2010

2010 proxy statements
Our 2010 proxy statements addresses the SEC reporting requirements related to proxy reporting.

29 January 2010

Hot Topic - SEC final rule: Investment adviser custody of client assets
Our Hot Topic summarizes the SEC rule intended to provide additional safeguards if an investment adviser registered with the SEC has custody of client funds and securities.

13 January 2010

Hot Topic - SEC staff issues revised guidance on non-GAAP financial measures
Our Hot Topic summarizes recently issued SEC staff Compliance and Disclosure Interpretations on non-GAAP financial measures.

1 January 2010

2009 SEC annual reports
Our 2009 SEC annual reports may be used as a reference tool when preparing annual reports on Form 10-K, as well as annual shareholders’ reports.

18 December 2009

Hot Topic - SEC final rule: Proxy disclosure enhancements
Our Hot Topic summarizes the SEC's final rule to require enhanced disclosures regarding risk, compensation and corporate governance matters in proxy materials The rule will apply to most proxy statements for 2010 annual meetings.

11 December 2009

Hot Topic - SEC officials provide update on the proposed IFRS Roadmap
Our Hot Topic summarizes the key issues related to the Roadmap addressed by Commissioner Walter and James Kroeker at the 2009 AICPA National Conference on Current SEC & PCAOB Developments.

24 November 2009

Comment Letter - Proposed Rules on Auditing Standard No. 7, Engagement Quality Review
This comment letter provides our views on the PCAOB's re-proposal on engagement quality review.

11 November 2009

Hot Topic - SEC proposal: Credit ratings disclosure
Our Hot Topic summarizes a SEC proposal that would require additional disclosure in registration statements when credit ratings are used by issuers, underwriters or other offering participants.

1 October 2009

SEC Comments and Trends - October 2009
Our SEC Comments and Trends provides an overview of the issues about which the SEC staff is focusing in its recent comments to registrants.

16 September 2009

Comment Letter - SEC’s proposed proxy disclosures
This comment letters expresses our views on the SEC's proposal to improve proxies.

9 September 2009

Comment Letter - Concept release on requiring the engagement partner to sign the audit report
Our comment letter provides Ernst & Young views on the PCAOB concept release on engagement partner sign-off of an audit report.

17 July 2009

Hot Topic - SEC proposal: Proxy disclosure about corporate governance and compensation
The SEC issued for public comment a proposal to amend existing rules regarding compensation and corporate governance matters included in proxy materials. Among other things, the proposal would amend the disclosures a company is required to make regarding (1) overall compensation policies (2) director qualifications and legal proceedings (3) company leadership structure (4) potential conflicts of interest of compensation consultants.

17 June 2009

Hot Topic - Facilitating shareholder director nominations
In June 2009, the SEC published a proposal that would create a procedure by which shareholders can nominate director candidates. Our Hot Topic provides an overview of the more significant aspects of the proposal.

17 June 2009

Hot Topic - XBRL update
Our Hot Topic summarizes relevant developments since the SEC’s approval of the interactive data rules and provides observations from our review of recent interactive data filings by early adopting registrants.

5 June 2009

Comment Letter - Concept release on possible revisions to the PCAOB’s standard on audit confirmations
This comment letter provides our views on PCAOB's Concept Release on audit confirmations.

20 May 2009

Hot Topic - Responses to the SEC Roadmap
Our Hot Topic summarizes several of the more prevalent views raised in comment letters to the SEC on its proposed roadmap for US registrants to adopt IFRS.

15 April 2009

Comment Letter - PCAOB proposed auditing standard on engagement quality reviews
This comment letter provides our views on the PCAOB's revised proposal on engagement quality reviews.

4 March 2009

Comment Letter - SEC proposed Roadmap for the potential use of IFRS by US registrants
Our comment letter provides Ernst & Young's views on the potential adoption of IFRS by US registrants.

1 March 2009

2009 quarterly financial reports - A guide for financial officers
Our 2009 quarterly financial reports addresses the SEC rules governing quarterly reporting in Form 10-Q.

1 March 2009

Implementing XBRL - Developing a roadmap for the SEC mandate
The Roadmap provides an XBRL implementation framework and discusses various matters that companies should consider when preparing for, and complying with, the SEC rule.

18 February 2009

Comment Letter - Proposed PCAOB Auditing Standards: Auditor's assessment of and response to risk
This comment letter provides our views on the proposed PCAOB proposal on risk assessment.

11 February 2009

Technical Line - SEC publishes final rule requiring XBRL
Our Technical Line provides an overview of the SEC's final rule requiring the use of eXtensible Business Reporting Language (XBRL) for SEC financial reporting.

1 February 2009

2009 proxy statements - An overview of the requirements
Our 2009 proxy statements addresses the SEC reporting requirements related to proxy reporting.

28 January 2009

Hot Topic - SEC issues final rule modernizing oil and gas reporting
Our Hot Topic summarizes the SEC's rule to revise its oil and gas reserves estimation and disclosure requirements.

1 January 2009

2008 SEC annual reports
Our 2008 SEC annual reports may be used as a reference tool when preparing annual reports on Form 10-K, as well as annual shareholders’ reports.

31 December 2008

Hot Topic - SEC completes study on mark-to-market accounting
On 30 December 2008, the SEC delivered to Congress its statutorily mandated study of "mark-to-market" accounting. Our Hot Topic provides an overview of the key issues addressed as well as the recommendations set forth.

17 December 2008

2008 SEC/PCAOB Conference highlights
Our Conference Compendium summarizes the most significant accounting, SEC and PCAOB developments addressed at the 2008 AICPA National Conference.

17 December 2008

Hot Topic - SEC requires use of XBRL
Our Hot Topic summarizes the SEC rule that requires the use of eXtensible Business Reporting Language (XBRL) for SEC financial reporting

21 November 2008

Hot Topic - SEC hosts second roundtable on the use of fair value
Our Hot Topic summarizes the SEC's second roundtable on the use of fair value accounting.

15 November 2008

Hot Topic - SEC issues proposed roadmap for the potential use of IFRS in financial statements prepared by US issuers
Our Hot Topic summarizes the SEC's roadmap on the potential use of IFRS as issued by IASB in financial statements prepared by US issuers.

31 October 2008

Hot Topic - SEC hosts first roundtable on fair value accounting
Our Hot Topic summarizes the first of two roundtables hosted by the SEC to discuss fair value accounting and the recent period of market turmoil.

10 October 2008

Technical Line - SEC foreign issuer reporting enhancements
Our Technical Line provides a summary of the more significant aspects of the SEC’s adopting release that enhances disclosures for foreign private issuers.

8 October 2008

Hot Topic - Treasury Advisory Committee publishes Final Report
Our Hot Topic provides an overview of the Treasury Advisory Committee recommendations to enhance the sustainability of the public company auditing profession.

19 September 2008

Hot Topic - SEC staff clarifies consolidation issues relating to bank support for money market funds
Our Hot Topic discusses the accounting implications when a sponsoring institution of certain money market funds steps in to provide various forms of financial support. It summarizes the SEC views whether these sponsoring financial institutions should consolidate the supported money market funds.

3 September 2008

Comment Letter - SEC proposal on modernization of oil and gas reporting requirements
This comment letter provides our views on the SEC's proposal to modernize oil and gas reporting requirements.

2 September 2008

Hot Topic - SEC adopts rules on foreign issuer reporting enhancements proposal
Our Hot Topic discusses the SEC's final rule on enhancing foreign private issuer reporting.

1 September 2008

SEC Comments and Trends - September 2008
Our SEC Comments and Trends provides an overview of the issues on which the SEC staff is focusing in its recent comments to registrants.

28 August 2008

Hot Topic - SEC proposes roadmap for IFRS adoption in the US
Our Hot Topic focuses on the SEC's announcement regarding a proposal providing a roadmap for US issuers to transition to IFRS.

14 August 2008

Comment Letter - COSO guidance on monitoring internal control systems
This comment letter provides our views on the Committee of Sponsoring Organizations (COSO) guidance on monitoring internal control systems.

14 August 2008

Hot Topic - SEC Advisory Committee on improvements to financial reporting: Final recommendations
Our Hot Topic summarizes the Committee’s final recommendation to improve financial reporting and enhance the standard-setting process.

6 August 2008

Hot Topic - SEC Roundtable - Performance of IFRS during the market turmoil
Our Hot Topic summarizes an SEC roundtable to discuss IFRS developments, including the experience with the use of IFRS during the recent period of market turmoil.

31 July 2008

Comment Letter - SEC proposed rule on XBRL
This comment letter provides our views on the SEC's proposal to modernize oil and gas reporting requirements.

16 July 2008

Hot Topic - SEC's proposed modernization of oil & gas reporting requirements
Our Hot Topic focuses on the SEC's proposed modernization of oil and gas reporting requirements.

18 June 2008

Hot Topic - SEC proposes mandatory use of XBRL
Our Hot Topic focuses on the SEC proposal on extensible business language reporting (XBRL).

12 May 2008

Comment Letter - PCAOB Proposal on Engagement Quality Review
This comment letter provides our views on the PCAOB's proposal on engagement quality review.

31 March 2008

Comment Letter - Recommendations of SEC Advisory Committee on improvements to financial reporting
Recommendations of SEC Advisory Committee on improvements to financial reporting.

10 March 2008

Comment Letter - SEC proposal relating to internal control reporting for non-accelerated Filers
Focuses on SEC proposal relating to internal control reporting for non-accelerated filers.

1 March 2008

2008 SEC quarterly reports - A guide for financial officers
Our 2008 SEC quarterly reports addresses the SEC rules governing quarterly reporting in Form 10-Q.

29 February 2008

Hot Topic - Summary of SEC final rule - Allowing smaller public companies to use Form S-3 and shelf registration
Our Hot Topic summarizes the SEC’s recent final rule revising eligibility requirements for primary securities offerings on Forms S-3 and F-3.

13 February 2008

Hot Topic - Summary of SEC final rule - Shortened holding periods for restricted securities
Our Hot Topic summarizes the SEC’s recent final rule that shortens the Rule 144 holding periods for restricted securities held by affiliates and non-affiliates.

1 February 2008

2008 proxy statements - An overview of the requirements
Our 2008 proxy statements addresses the SEC reporting requirements related to proxy reporting.

23 January 2008

Hot Topic - Summary of SEC final rule - Smaller reporting company relief & simplification
Our Hot Topic summarizes the SEC’s recent final rule including the definition of a smaller reporting company and the reduced disclosure and financial statement requirements for smaller reporting companies.

16 January 2008

Hot Topic - SEC eliminates reconciliation requirement for FPIs
Our Hot Topic discusses the SEC rule to accept from foreign private issuers financial statements prepared in accordance with IFRSs as issued by the IASB, without reconciliation to U.S. GAAP.

1 December 2007

December 2007 AICPA Conference Highlights
Our Conference Compendium summarizes the most significant accounting, SEC and PCAOB developments addressed at the 2007 AICPA National Conference.