Category: Audit Committees and Independent Auditors

Smaller Issuer Relief in the Financial CHOICE Act

Kimberley R. Anderson

As noted in the earlier post, the House passed the Financial CHOICE Act yesterday.  While the headline-grabbing aspects of the Financial CHOICE Act relate to a repeal of the Volcker Rule and reducing the authority of the Consumer Financial Protection Bureau, there are some other interesting tidbits relating to public company disclosure, including two that would provide significant relief for smaller issuers. However, the Financial...

Disclosure Alert: Consider Transitional Disclosure on Revenue Recognition Standard

Gary L. Tygesson

The staff of the Securities and Exchange Commission (SEC) continues to encourage companies to provide useful disclosure to investors with regard to the new revenue recognition standard that will apply for reporting periods beginning after December 15, 2017. The new standard not only changes the method for measuring revenue and the timing of revenue recognition, but also requires expanded disclosures to enable users of financial...