Tag Archives: GAAP

Disclosure Simplification: SEC Referral Prompts FASB to Seek GAAP Tweaks

Last August, when the SEC adopted its disclosure simplification rules, it referred to FASB certain Reg S-X & S-K line items that overlapped with GAAP but called for incremental disclosure, and asked FASB to consider incorporating those additional disclosure requirements … Continue reading

Posted in Banking and Finance law | Tagged , , , , , , | Leave a comment

UK Regulators Emphasize Continued Relevance of True and Fair Principle under GAAP and IFRS

UK regulators have issued a report emphasizing and reaffirming that the requirement that audited financial statements give a true and fair account of a company's operations remains of fundamental importance under both UK GAAP and IFRS. The Accounting Standards Board … Continue reading

Posted in Banking and Finance law | Tagged , , , , , , , , , | 2 Comments