Overview
In this self-study webinar taken from our popular SEC Conference, our panel of industry experts will provide you with the up-to-the-minute information and guidance you need to successfully handle today’s most critical SEC accounting and reporting issues.
AGENDA HIGHLIGHTS
• General SEC Update
– Current SEC leadership
– Regulation Flex Agenda
• SEC Reporting in Response to Market Disruptions
– Reporting considerations
– Banking industry challenges
– Natural disasters
– Lessons learned
• SEC Financial Disclosure Rulemaking
– Beneficial ownership reporting
– Special Purpose Acquisition Companies (SPACs)
• Amendments to Enhance & Standardize Climate-Related Disclosures for Investors
– Increased demand for ESG information
– Disclosures
– Outside of the financial statements
– Audited financial statements
– Location considerations
– Assurance
– Item 1501 – governance disclosures
– Strategy, Business Model, and Outlook – Item 1502
– Risk Management – Item 1503
– Greenhouse Gas (GHG) Emissions
– Quantitative Disclosures
– Outside of the financial statements
– Targets and goals – Item 1506
– Within the financial statements
– Assurance on climate-related disclosures
– Proposed adoption timeline
– COSO Guidance for Sustainability Reporting
• Disclosure Considerations for China-based Operations
• Cybersecurity
– Cybersecurity disclosure rules adopted
– SEC Enforcement Priority
– Disclosure and Audit issues
• Staff Accounting Bulletins
• 10b5-1 Plans & Share Repurchases
• Recovery of Erroneously Awarded Compensation
• Pay vs. Performance
• Staff Guidance on Materiality
• Legislative Update
– Corporate buybacks
– "ESG Month" hearings
– Proposed requirements for California
• SEC Staff Comments & Trends
– Non-GAAP measures
– Management's Discussion & Analysis (MD&A)
– Segment Reporting
– ASC 606
– Climate-related disclosures
LEARNING OBJECTIVE To provide financial professionals with an update on the key SEC hot button issues and regulations that
impact the financial accounting and reporting of listed companies.
PREREQUISITE None. ADVANCE PREPARATION None. PROGRAM LEVEL Update. NASBA FIELD OF STUDY Accounting.
DELIVERY METHOD Self-Study.
Speakers
SPEAKERS
Polia A. Nair, Partner, CohnReznick LLP
Tai Fung, Assistant Controller, Starbucks
Harrison Tucker, Senior Associate, Gibson, Dunn & Crutcher LLP
Detailed Learning Objectives
• Recognize the contents of the spring 2023 regulation flex agenda
• Identify the current SEC reporting consideration themes
• Identify certain characteristics of the SEC’s Beneficial Ownership Amendments
• Identify the mandatory financial statement metrics for the impact of climate-related events under the SEC proposed climate-related disclosures
• Identify the characteristics of the SEC’s proposed disclosure rules on SPACs
• Recognize characteristics of the SEC’s proposed climate change disclosure
• Identify disclosure requirements for offshore, China-based VIE structured registrants
• Identify the timeframe in which a material cybersecurity incident must be disclosed
• Recognize characteristics of the SEC’s cybersecurity disclosure rules
• Recognize recently published guidance provided in SAB 121 regarding a registrant’s platform that allows users to transact in crypto-assets
• Identify the required cooling off period for directors and officers under 10b5-1
• Identify the allowable look-back period for recovery of erroneously awarded compensation
• Identify characteristics of pay vs. performance rules
• Recognize the determining factors for materiality in the context of an error in the financial statements
• Identify the percentage excise tax on the repurchase of stock by a publicly-traded corporation is assessed at