Meeting Highlights

SEC Regulations Committee Highlights – March 31, 2015

Tuesday, March 31, 2015

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The CAQ’s SEC Regulations Committee meets periodically with the staff of the Securities and Exchange Commission (SEC) to discuss emerging technical accounting and reporting issues relating to SEC rules and regulations. These highlights summarizes the issues discussed at this meeting: Division of Corporation Finance personnel and organizational update; revenue recognition standard; reporting implications of FASB’s new consolidation standard; predecessor financial statements; auditor change disclosures for mandatory audit firm rotation; application of Regulation S-X Rule 3-14, Special Instructions for Real Estate Operations to Be Acquired, in a registration statement; and applicability of Item 302(a) of Regulation S-K, Selected Quarterly Financial Data, in a non-IPO Form S-1 registration statement.