SEC Enforcement Actions Reveal Continuing Importance of Accurate Disclosures

The SEC recently announced settled charges with Under Armour [NYSE: UAA] related to certain disclosure failures and making misleading statements to investors. The charges were notable, as the SEC enforcement action alleged that Under Armour engaged in manipulative revenue practices … Continue reading

SEC Enforcement Highlights Late Filing Disclosure Risks

On April 29, the SEC’s Enforcement Division announced charges against eight companies for failure to disclose complete information in Form NT (non-timely). The companies delayed issuing financial statements due, at least in part, to errors in previously issued financial statements, … Continue reading

A Closer Look into Human Capital Management Disclosures

In 2017, the Human Capital Management Coalition petitioned the SEC to expand disclosures surrounding the human capital management policies, practices, and performance. In response to this request, after significant discussion, the SEC amended Regulation S-K Item 101(c) and required disclosure of … Continue reading

PCAOB Adopts Amendments to Independence Rules, Announces 2020-2024 Strategic Plan

On November 19th, the Public Company Accounting Oversight Board (PCAOB) adopted amendments to its independence requirement to align with the Securities and Exchange Commission (SEC) rules. “The Board’s targeted amendments are intended to avoid confusion, differences, and duplication between PCAOB … Continue reading

Accounting and Auditing Enforcement Releases (AAERs): Q3 and Q4 2019

The Securities and Exchange Commission (SEC) provides a list of certain enforcement actions related to financial reporting concerning administrative proceedings and civil lawsuits. These Accounting and Auditing Enforcement Releases (AAERs) are analyzed by Audit Analytics and key data points are … Continue reading