Month: October 2019

Comment letter – SEC’s proposal to modernize disclosures of description of business, legal proceedings and risk factors under Regulation S-K

Go to Source Author: In our comment letter, we are highly supportive of the Commission’s objective to improve disclosures for investors while simplifying compliance efforts for registrants. However, we recommend certain revisions that would facilitate implementation. The proposed amendments would prescribe a more principles-based approach for description of business, legal proceedings and risk factors...

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Comment Letter – ASB’s proposal to amend AU-C 800 series

Go to Source Author: In our comment letter, we support the efforts of the AICPA’s Auditing Standards Board (ASB) to align the form and content of the auditor’s report on the subject matters covered by AU-C sections 800, 805 and 810 with the recently issued guidance in SAS 134. However, we encourage the ASB to continue its efforts to incorporate the concept of a compliance framework for certain types of special purpose frameworks, which would further align auditing standards generally accepted in the US with the international auditing...

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Comment Letter – FASB’s proposal to simplify an issuer’s accounting for debt and equity instruments

Go to Source Author: In our comment letter, we generally support the FASB’s simplification initiative and applaud the Board’s efforts to reduce the cost and complexities associated with the current guidance on accounting for convertible instruments and contracts in an entity’s own equity. We also recommend ways to further clarify certain aspects of the...

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