The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.
We discuss helpful points to consider as preparers begin the quarterly reporting process for 2019. Topics include reminders regarding interim and annual disclosures, SEC Disclosure Simplification amendments effective for Q1, and items to keep in mind in light of the changing macroeconomic
and financial reporting environments.
Listen to our insights on five items you need to know about the SEC's current agenda. We discuss: The SEC's rulemaking process, the request for comment on earnings releases and quarterly reporting, the proposed rules to simplify disclosures in certain debt offerings, potential simplifications to Rule 3-05 (financial disclosures about acquired businesses), and potential amendments to accelerated filer thresholds.
PwC discusses key comment letter trends and considerations based on comment letters published by the SEC staff. We highlight the areas that received the most comments from the SEC and provide relevant examples of recent comments to aid preparers in assessing whether their disclosures are transparent and consistent with relevant accounting and reporting guidance. Trends are organized by topic, and by select industries, including Consumer markets, Energy, utilities and mining, Financial services, Health industries, Industrial products, Technology, media and telecommunications.
See the SEC's website for a complete list of all outstanding proposed rules.
SEC - 12/01/2017
The SEC's Division of Corporation Finance has published an updated version of Financial Reporting Manual. The manual serves as an internal, informal reference document to provide general guidance to SEC staff when reviewing for compliance with SEC reporting rules. Though nonauthoritative, the manual is a helpful source for companies and auditors to refer to for general information on SEC reporting matters. The manual covers a variety of topics such as financial statement requirements, pro forma information, non-GAAP measures, and MD&A, to name a few.
For a complete list of speeches and other public statements by the Chairman, Commissioners, and staff of the SEC, which cover a wide range of topics concerning the state of the markets and the Commission's regulatory agenda, visit the SEC’s website.