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SEC Announces Roundtable Series on Financial Reporting

Published on: 21 Oct 2011

Today, the SEC’s Office of the Chief Accountant (OCA) announced that on November 8, 2011, it will hold the first in a series of roundtable discussions related to financial reporting. The roundtables are intended to help the OCA proactively identify issues, risks, and other ways to improve the reliability and usefulness of “financial information provided to investors” and coordinate with the FASB, PCAOB, and the SEC’s Division of Corporation Finance (or other divisions as appropriate) on emerging issues and changes. Roundtables may address (1) public comments, (2) OCA research matters and potential impacts to capital market participants, and (3) input from standard setters and other SEC divisions.

The first roundtable will consist of three panels with representatives from key capital market participants, including investors, preparers, and auditors. The FASB and PCAOB chairmen will observe and will have the opportunity to actively participate by making statements and inquiries of participants.

The agenda and detail of panel participants will be available closer to the date of each discussion. The SEC strongly encourages constituents to submit roundtable topics for discussion.

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