All Securities and Exchange Commission articles – Page 56
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Blog
Banking regulators approve CECL relief measure
Banking regulators issued some relief for banks worried about the effects of adopting CECL, but bankers are still concerned it won’t go far enough.
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Blog
How Hain Celestial improved its revenue recognition practices
The Hain Celestial Group recently settled charges with the Securities and Exchange Commission resulting from weaknesses in its internal controls. Why the food company was not assessed a monetary penalty is where the compliance lessons lie.
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Blog
BNY Mellon to pay $54M for improper handling of ADRs
The Securities and Exchange Commission on Dec. 17 announced that Bank of New York Mellon will pay more than $54 million to settle charges of improper handling of “pre-released” American Depositary Receipts.
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Blog
GE audit committee considers replacing KPMG as auditor
GE’s audit committee has initiated a tender process to consider replacing KPMG as its external auditor.
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CAMs may drive more management disclosure, dry runs reveal
A pending requirement for auditors to disclose critical audit matters in their reports may compel management to take a closer look at their own disclosures.
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House plans hearing on CECL’s effect on economy, banks
The SEC may be hands-off with respect to CECL, but the House Financial Services Committee is exploring the expected effect of the accounting change on the economy.
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Article
SAB 118 to ASC 740: Companies shift tax reporting
Shifting from one uncertain position to another, companies are facing a subtle but important change in how to explain tax reform to investors.
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SEC, PCAOB spill frustration over China stonewall
U.S. regulators are contemplating what next steps they can take to rattle some greater cooperation out of overseas regulators, especially in China.
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Two big holdouts still follow 1992 COSO framework
A handful of holdouts are still disclosing they comply with SOX internal control reporting requirements by following a defunct COSO framework.
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CHS self-reports FCPA investigation
Farm supplies company CHS disclosed in a Dec. 3 securities filing that it has self-reported to the Department of Justice and Securities and Exchange Commission potential violations of the Foreign Corrupt Practices Act.
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Amazon pushes back on SEC revenue disclosure comment
The SEC is getting some pushback from Amazon over how it breaks up and reports revenue for its different streams under ASC 606.
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Blog
SEC names Kurt Gottschall director of Denver office
The Securities and Exchange Commission named veteran staffer Kurt L. Gottschall director of the Denver regional office, where he will lead a staff of more than 100 enforcement agents.
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Article
SEC raises the bar on cyber-security risks
Regulators expect companies to raise their game in protecting the corporate jewels from online hackers, especially in schemes that are not exactly novel.
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Blog
SEC staff plans to scrutinize year-end revenue disclosures
As companies get closer to their first annual disclosures under new revenue recognition rules, staff members at the SEC are stocking up on red pens.
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Blog
Lease accounting adoption still behind, PwC poll says
More than 15 percent of public companies surveyed in late October had not yet begun implementing the new lease accounting standard that takes effect Jan. 1.
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Blog
SEC wants more Brexit disclosure, Clayton says
As turmoil over the British exit from the European Union deepens, the Securities and Exchange Commission is looking for public companies to start disclosing more about how they’ll be affected.
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Blog
SEC, FASB members offer no hopes for CECL delay
Amid calls for a delay or changes to CECL, the SEC's chief accountant is defending the rulemaking process under FASB and its independence.
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SEC pushed to stress ‘fiduciary duty’ in forthcoming rules
Members of the SEC’s Investor Advisory Committee are recommending that forthcoming rules for investment advisers be made more explicit and in line with past visions of a “fiduciary duty.”
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Blog
Tesla names new chairman of the board
Tesla has named a new chairman of the board, Robyn Denholm, to replace founder and CEO Elon Musk. She takes on the post after serving as CFO for Telstra, Australia’s largest telecommunications company.
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Blog
Citibank to pay $38.7M for improper handling of ADRs
Citibank has agreed to pay $38.7 million to settle charges of improper handling of “pre-released” American Depositary Receipts, the Securities and Exchange Commission announced on Nov. 7.