SEC Chief Accountant Issues Statement on Financial Reporting During COVID-19
Jun 23, 2020
On June 23, 2020, Mr. Sagar Teotia, Chief Accountant of the Securities Exchange Commission (SEC) issued a statement on the importance of high-quality financial reporting in light of the significant impacts of COVID-19.
The statement discusses recent engagement with stakeholders on the following topics:
- The Office of the Chief Accountant’s engagement and work related to high-quality financial reporting.
- Engagement with the FASB and the PCAOB.
- Engagement with international standard setters and other regulators.
- Engagement with and the vital role of audit committees.