SEC Comment Letters on Domestic Registrants (Second Edition)

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03 Feb 2009

In January 2008, Deloitte (United States) published two Special Reports – Available Here on IAS Plus – analysing the comments by the staff of the US Securities and Exchange Commission on the financial statements of registrants.

One of the 2008 reports reviewed comments on domestic registrants using US GAAP. The other reviewed comments on foreign private issuers using IFRSs. Deloitte (United States) has now published a revised edition of the first report: SEC Comment Letters on Domestic Registrants: A Closer Look. This second edition reflects both new topics and new areas within existing topics that the SEC staff has commented on since the earlier edition. The SEC staff has continued to issue comments on all topics included in the first edition, such as revenue recognition, business combinations, segment reporting, financial instruments, and impairments. However, in light of the troubled credit markets, the staff has been more closely scrutinising goodwill and intangible asset impairments, other-than-temporary impairments, deferred tax valuation allowances, compliance with debt covenants, fair value, and the allowance for loan losses, just to name a few. Click to download SEC Comment Letters on Domestic Registrants: A Closer Look (PDF 810k).


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