On September 27, 2024, the Securities and Exchange Commission (“SEC”) adopted final amendments to Rules 10 and 11 of Regulation S-T (17 CFR 232.10 and 232.11) and Form ID to improve access to, and management of, accounts on the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system. Known as “EDGAR Next,” these enhancements are designed
Ali Perry
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SEC Chief Accountant on the Updated Conceptual Framework in FASB Standard Setting
By Ali Perry & Carlos E. Juarez on
The Financial Accounting Standards Board (the “FASB”) recently completed an update to its Conceptual Framework for Financial Reporting (the “Framework”). The Framework is a body of interrelated objectives and fundamentals that provides the FASB with guidance as it sets standards for financial accounting and reporting. The update marks the end of a significant project that began…
CAQ Report on Financial Statement Restatement Trends
By Ali Perry on
In June 2024, the Center for Audit Control (the “CAQ”) released its report entitled “Financial Restatement Trends in the United States: 2013 – 2022,” announcing the findings from its study examining trends and characteristics of public company restatement events that took place between January 1, 2013 and December 31, 2022. For purposes of…