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CAQ releases highlights of March 2018 meeting with SEC staff

  • CAQ (US Center for Audit Quality) Image

May 18, 2018

The Center for Audit Quality (CAQ) has released the highlights of the March 13, 2018, joint meeting with the SEC staff.

Topics dis­cussed at the meeting in­cluded:

  • Financial reporting implications of tax reform legislation.
  • Waivers of financial statements required by Regulation S-X, Rule 3-09, “Separate Financial Statements of Subsidiaries Not Consolidated and 50 Percent or Less Owned Persons.”
  • New accounting standards.
  • Use of most recent year-end financial statements in the assessment of significance in an IPO under Regulation S-X, Rule 1-02(w), “Significant Subsidiary.”
  • Audit requirements for pretransaction periods after a reverse merger involving two operating companies.

For more in­for­ma­tion, see the press release on the CAQ’s Web site.

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