SEC proposes rules to implement Sarbanes-Oxley Act
01 Nov 2002
The US SEC has proposed rules to implement the Sarbanes-Oxley accounting reform legislation adopted in late July.
Two financial reporting issues covered by the proposed rules are:
- Disclosure of non-GAAP financial information (including "pro forma" information) and
- MD&A; disclosure about off-balance sheet arrangements, contractual obligations, and contingent liabilities and commitments,