SEC Advisory Committee Recommends Ways to Improve Financial Reporting
The SEC became concerned that financial reporting and disclosure was in need of some smoothing out and improvement, so in true government fashion, it formed an advisory committee to explore ways to improve financial reporting for investors. You may recall that I mocked the whole thing based on the fact that A LOT of that complexity is actually the fault of the SEC and other assorted regulators who insist on constantly adding requirements of dubious value. However, making the system better is making the system better and I welcome the SEC advisory committee’s report even if most of what it does is to undo things the SEC has done before. So, without further ado, I will download the Advisory Committee’s report elegantly entitled: FINAL REPORT of the ADVISORY COMMITTEE on IMPROVEMENTS to FINANCIAL REPORTING to the UNITED STATES SECURITIES and EXCHANGE COMMISSION After quickly reading over the document I will report the recommendations here and … wait a second — So, the report is 120 pages long and then there are 48 pages of appendixes. Hmmm. Well I’ll get back to you a little later. I guess we won’t be improving things by making them any shorter and easier to …