U.S. Chamber Threatens Lawsuit Following SEC Rule on Stock Buybacks
The U.S. Chamber of Commerce threatened a lawsuit following the Securities and Exchange Commission’s adoption of rules that strengthen the …
SEC Chair Gensler Defends Staff Accounting Bulletin 121 in Crypto-Heavy House Hearing
SEC Chair Gary Gensler on April 18, 2023, defended the year-old Staff Accounting Bulletin (SAB) No. 121 before a House panel, pushing …
PCAOB Advisers Say Auditors May not be Fully Complying with Expanded Reporting Rule
During a public meeting last week, some Public Company Accounting Oversight Board (PCAOB) advisers said they are concerned that auditors …
COSO Publishes Guidance for Internal Control Over Sustainability Reporting
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) on March 30, 2023, published a study along with supplemental …
PCAOB Rulemaking Could Lead to More Timely Issuance of Audit Inspection Reports
The Public Company Accounting Oversight Board on March 28, 2023, voted unanimously to issue a proposal that could in part …
Senator Gary Peters Urges Regulators to Finish Dodd-Frank Incentive Compensation Rules in Light of Bank Failures
Senator Gary Peters, a Democrat from Michigan, urged financial regulators to quickly finish writing a crucial Dodd-Frank rule related to …
As Problems in Global Audit Persist, SEC Chief Accountant Reminds Lead Auditors of their Responsibilities
Securities and Exchange Commission Chief Accountant Paul Munter urged lead auditors to do a better job when other accounting firms …
Recent Bank Failures May Indicate Problems with Going Concern Standards, Liquidity Risk Disclosure Rules
By now almost everyone knows that Silicon Valley Bank (SVB), which largely lent to tech companies, failed almost overnight on …
Commissioner Uyeda Says SEC Should Consider Changes to Smaller Reporting Company Definition
SEC Commissioner Mark Uyeda in a speech suggested reducing rule compliance burdens, among other measures, to help smaller companies go …
Ex-SEC Commissioner Piwowar Suggests Cutting Commission Rulemaking from Legislative Reforms
Former SEC Commissioner Michael Piwowar on March 9, 2023, suggested Congress move forward with securities law reforms that do not …