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Committee on Financial Reporting

The objective of the Financial Reporting Committee is to enhance the integrity of financial reporting systems in order to foster the objectivity, understandability, and reliability of financial reports. A critical aspect of this objective involves offering practical insight into those aspects of financial reporting systems where weaknesses and problems will frequently originate – that is, within the corporate governance structures of reporting entities. Committee members, through their knowledge of the law as well as the practicalities of its constraints, are well positioned to offer concrete insight into both common strengths of financial reporting systems and areas warranting improvement. The committee seeks to improve financial reporting integrity through the enhancement of the rules and regulations of financial reporting as well as the culture in which those rules and regulations are called upon to function.


Recent Reports

Letter to the SEC on its initiative to improve the quality and usefulness of public company disclosure (September 2014) ( PDF ) 
Subject area: Public Company Disclosure

Letter to the Public Company Accounting Oversight Board (PCAOB) regarding an auditor’s responsibilities concerning information in certain documents containing audited financial statements and related reports (December 2013) ( PDF ) 
Subject area: Audited Financial Statements

Letter to the Financial Accounting Standards Board commenting on File Reference No.2013-300, Disclosure of Uncertainties about an Entity’s Going Concern Presumption (September 2013) ( PDF ) 
Subject area: Going Concern Presumption

For the full list of committee reports click here