This site uses cookies for analytics, personalized content and ads. By continuing to browse this site, you agree to this use of cookies in accordance with our Cookie Policy.

Meeting Highlights

SEC Regulations Committee Highlights – September 23, 2014

Tuesday, September 23, 2014

Download PDF

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 summarize the issues discussed at this meeting: the Division of Corporation Finance personnel and organizational update; disclosure effectiveness; implementation issues involving the revenue recognition standard (including those relating to transition, emerging growth companies, and non-issuers under Regulation S-X Rule 3-05, Regulation S-X Rule 3-09 or Regulation S-X Rule 4-08 (g)); presenting combined financial statements for a merger of entities under common control in an IPO when the combination occurs after effectiveness; current SEC staff views on predecessor financial statements, primarily as they relate to identifying a predecessor; direct auditor reporting of cessation of client-auditor relationship; and using International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) when preparing financial statements pursuant to Regulation S-X Rule 3-14 or lessee/tenant financial statements related to a significant triple net lease.