Compliance


The SEC Office of the Inspector General (OIG) recommended that the commission’s Division of Corporation Finance continue improving its preliminary reviews of corporate securities filings ( www.sec.gov/about/oig/ ). The recommendations were part of the OIG’s report on its audit, from January through October 2005, of the division’s preliminary review process. OIG conducts this and related audits on an ongoing basis. The recommendations included enhancing the review process’s consideration of company risk factors, such as the need to restate financial statements; maintaining its surveillance of large companies’ press releases, securities trading data and reports of events that might affect the company’s finances or stock price; and continuing its efforts to better manage workloads.

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Getting leases in line

ASC Topic 842 is a relatively simple standard that can mean profound changes for organizations with leases. This report examines what makes this standard challenging and describes new ways for CPAs to add value.