The Center for Audit Quality SEC Regulations Committee meets periodically with the staff of the SEC to discuss emerging financial reporting issues relating to SEC rules and regulations. The purpose of the following highlights is to summarize the issues discussed at the meetings. These highlights summarize topics discussed, including a personnel and committee update, requests for interpretive guidance, the Commission's Disclosure Effectiveness Initiative, and current financial reporting matters. The financial reporting matters discussed included the following:
- Non-GAAP financial measures,
- SAB Topic 13 update,
- Extinguishment of registered guaranteed debt after period end but before the filing date,
- Preparing pro forma financial statements when fiscal year ends differ by more than 93 days, and
- Transition questions related to the new leasing standard.