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Posts in SEC

The Red Flag Rule: Up For Discussion Again … This Time by the SEC and CFTC

March 14, 2012
Michelle Mackey, MFA Cornerstone Consulting

The topic of “red flags” initially came about through the Fair and Accurate Credit Transactions Act of 2003. The Red Flag Rule, adopted by the Federal Trade Commission in 2007, called for “creditors” to implement [...]

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Will the U.S. Adopt Global Accounting Standards?

January 10, 2012
Tracy Curley

If you read MFA’s recent Financial Reporting Alert, SEC Issues Two Staff Papers on Work Plan Convergence of Global Accounting Standards, there are a few key points worth noting.

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Is XBRL More Than Just a Compliance Expense?

October 19, 2011
Tracy Curley

With XBRL (eXtensible Business Reporting Language) now in its third phase of implementations, nearly all public companies using U.S. GAAP are now required to submit data in the fully searchable, digital format. [...]

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A Word of Advice for Smaller Reporting Companies as XBRL Becomes a Reality

May 25, 2011
Tracy Curley

In 2009, the U.S. Securities and Exchange Commission (SEC) issued rules requiring public companies and foreign private issuers that prepare [...]

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The SEC Asks, “Is Proxy Plumbing in Need of a Fix?”

September 28, 2010
Tracy Curley

Back in mid- July, the Securities and Exchange Commission (SEC) issued a concept release to solicit comment on the United States (U.S.) proxy voting system (Release), which over the last 30 years has not changed much.

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Small Companies Paying Big Price for SOX Audits

October 8, 2009
Travis Drouin

The anecdotal evidence was already there, but now the hard numbers are in from an SEC report that proves smaller companies are paying a disproportionately high cost to comply with Sarbanes Oxley.

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XBRL Is In The Books

December 18, 2008
Travis Drouin

The SEC voted yesterday to make XBRL the official standard for communicating business and financial information. As XBRL Blog Magazine reports, the mandate comes out of a roundtable held by the SEC, and might require compliance for companies reporting as early as June 2009.

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Mark-To-Market Here To Stay?

December 10, 2008
Travis Drouin

The SEC’s study of mark-to-market accounting is winding down, and Compliance Week’s Tammy Whitehouse published some interesting insight into the initial comments made by SEC Chariman Christopher Cox.

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IFRS To Be a Reality?!

September 3, 2008
Travis Drouin

Well, it looks like we may be on our way. After years of false starts and conjecture about U.S. adoption of - or complete convergence with - International Financial Reporting Standards (IFRS), the SEC issued a press release on August 27th entitled “SEC Proposes Roadmap Toward Global Accounting Standards to Help Investors Compare Financial Information More Easily."

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Simplifying Revenue Recognition

August 27, 2008
Travis Drouin

I’ve heard some describe the Sarbanes-Oxley Act as the accountant’s version of the full employment act.

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Getting Ready For XBRL

July 30, 2008
Travis Drouin

If you haven’t heard of XBRL before, don’t worry, many others haven’t either.

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