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Findings of SEC review of Fortune 500 company filings

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19 Mar 2003

The US SEC Division of Corporation Finance has published the findings of its Review of Periodic Reports filed with the SEC during 2002 by Fortune 500 Companies (PDF 53k).

The report notes deficiencies in a number of accounting areas, including accounting policy disclosures, reporting of non-GAAP financial information, revenue recognition, restructuring charges, impairment charges, pension assumptions, segment reporting, securitisations and off-balance sheet arrangements, and environmental and product liability disclosures. The SEC noted that as a result of these reviews, they have sent comment letters to 350 of the 500 companies.

Correction list for hyphenation

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