- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
GAAP now contains a shorter list of disclosure requirements for fair-value measurements and defined benefit plans, along with a reprised definition of materiality.
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Companies need to update their disclosure controls and procedures now that the SEC and FASB are starting to trim unnecessary bulk out of disclosure requirements.
Within two weeks of gaining power, the U.K.’s newly elected Labor government has confirmed its intention to beef up the audit regulator and strengthen corporate governance.
The U.K.’s Financial Reporting Council fined audit firm MacIntyre Hudson (MHA) and two employees for breaching the agency’s requirements.
