What are the Changes in SEC Reporting Regulation?
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Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back again with Miriam Rouziek, an audit manager and one of the faces of PKF Texas’s SEC team. Miriam, welcome back to The Playbook.
Miriam: Thanks for having me, Jen.
Jen: So, we’ve been talking about SEC rules and guidelines. Are there any changes that are coming for reporting companies?
Miriam: Yeah, there’s going to be some potential changes, especially in quarterly reporting. The SEC is looking to make it a little bit easier for companies to file these quarterly reports, so they’re looking at potentially making it more of an earnings release as opposed to a quarterly report with the full financial statements and disclosures in it.
The impact would be to have an easier method of reporting for companies, but the SEC also wants to maintain the integrity of the financial statements and the information that investors need to make investing decisions.
Jen: Great, and so when is that time frame going to happen?
Miriam: It looks like they’re still accepting comments on the matter, so this is something that smaller CPA firms and larger CPA firms are really looking into making comments on it and how it would impact investors. I know that some of the larger investing groups are also going to make comments on it, so we’ll probably hear a lot more in the future.
Jen: Perfect. We will definitely have to get you back once some decisions are made.
Miriam: Yeah, sure. That would be great.
Jen: Perfect. For more about this topic, visit PKFTexas.com/SECDesk. This has been another Thought Leader Production, brought to you by PKF Texas – The Entrepreneur’s Playbook. Tune in next week for another chapter.