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CAQ releases highlights of May 2016 meeting between IPTF and SEC staff

  • CAQ (US Center for Audit Quality) Image

Jul 29, 2016

The Center for Audit Quality (CAQ) has released the highlights of the May 17, 2016, joint meeting between the SEC staff and the CAQ’s SEC Regulations Committee and International Practice Task Force (IPTF).

Topics dis­cussed at the meeting in­cluded:

  • Mon­i­tor­ing in­fla­tion in certain coun­tries.
  • New NYSE rule related to interim financial information.
  • “Updating annual financial statements for retrospective accounting that is first reflected in a full set of interim financial statements, that are not needed to meet nine-month financial statement timeliness requirements under Item 8.A.5 of Form 20-F.”
  • “More current interim financial statements provided on a local GAAP basis (i.e., other than US GAAP or IFRS-IASB), that is not needed to meet nine-month financial statement timeliness requirements under Item 8.A.5 of Form 20-F.”
  • “More current interim financial information provided on a local GAAP basis (other than IFRS-IASB or US GAAP), for an FPI that files its annual financial statements under IFRS-IASB.”
  • “Period to be covered for changes in internal control over financial reporting in the first 10-K filed by an issuer that was previously an FPI filing annual reports on Form 20-F.”
  • SEC staff matters, including disclosure effectiveness, non-GAAP measures, and XBRL IFRS briefing.

For more in­for­ma­tion, see the meeting high­lights on the CAQ’s Web site.

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