Audit Analytics released our latest report, Corporate Implementation of SEC’s Compliance & Disclosure Interpretations Regarding Non-GAAP Financial Measures, at this year’s annual AICPA conference on current SEC and PCAOB developments, held in Washington, D.C. We previously found that 449 of S&P 500 companies (88%) presented at … Continue reading
Category Archives: Non-GAAP
SEC Comment Letters: Early Returns
Note: This post features a guest contribution from our friend Jack Ciesielski, the publisher of the Analyst’s Accounting Observer. Together with our friends at the Analyst’s Accounting Observer, we reviewed the first batch of the SEC’s Division of Corporation Finance non-GAAP comments. The blog … Continue reading
SEC Comment Letters: A Look at Top Issues in 2016
Each year, Audit Analytics looks at the big picture of comment letter activity to see what important issues the SEC is focusing on, and how they compare to prior years. In the first half of 2016, 2,491 comment letters 1 (1,452 … Continue reading
SEC Comments on a BNY Mellon Capital Ratio Error
The recent turmoil surrounding Deutsche Bank, and speculations that one of the largest European banks may not survive without a bailout, yet again bring to light the importance of capital reserves that banks are required to hold. It should come … Continue reading
Disclosure Requirements of Non-GAAP Error Corrections
In a series of posts, we have discussed mounting evidence that, with 90% of U.S. public companies using custom metrics, non-GAAP presentations are becoming a de-facto alternative accounting system. In a May speech, Mark Kronforst, chief accountant of the SEC’s Division … Continue reading
Pondering the SEC’s Next Move on Non-GAAP: Thoughts From Audit Analytics & Analyst’s Accounting Observer
Note: This post features a guest contribution from our friend Jack Ciesielski, the publisher of the Analyst’s Accounting Observer. Audit Analytics compiled data on recent SEC comment letters sent to companies regarding their presentation of non-GAAP earnings. Together with our friends at the … Continue reading
Use of Non-GAAP in Proxy Statements
Non-GAAP is the issue du jour, and the past month stuck with the theme. One of the most significant bits of news came directly from the SEC. On May 17, the watchdog released an additional interpretation of Regulation G, which comprises the rules that govern the use … Continue reading