SEC and PCAOB developments (December 2015)

SEC and PCAOB developments (December 2015)

Highlights of the 2015 AICPA National Conference on current SEC and PCAOB developments include:

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  • The importance of internal control over financial reporting and the respective roles of preparers, auditors, and audit committees in the development and maintenance of high-quality, reliable financial reporting
  • The need to apply well-reasoned judgments to provide decision-useful information that allows for informed investment decisions
  • The critical importance of continued collaboration among industries and countries to promote consistent application of the new revenue recognition standard and other forthcoming accounting standards
  • Areas of focus from the Office of the Chief Accountant and the Division of Corporation Finance, including accounting and disclosure of revenue, segments, fair value, consolidations, and income taxes, and considerations related to non-GAAP measures and management’s discussion and analysis

 

Read a December 2015 report prepared by KPMG LLP: Issues In-Depth: 2015 AICPA National Conference on Current SEC and PCAOB Developments

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