Power and Utilities Alert: 2012- 3
Use of third party pricing service information
This Power and Utilities Alert highlights the remarks related to third party pricing service information at the December 2011 AICPA National Conference on Current SEC and PCAOB Developments focusing on management's responsibilities relating to the use of third party pricing service information in three areas:
- Compliance with accounting and disclosure requirements in accordance with generally accepted accounting principles (GAAP)
- Maintenance of appropriate internal controls over financial reporting
- Assessment of the effectiveness of internal controls over financial reporting