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SEC's Division of Corporation Finance Updates its Financial Reporting Manual
Practical Law Legal Update 1-525-6127 (Approx. 3 pages)
SEC's Division of Corporation Finance Updates its Financial Reporting Manual
by PLC Corporate & Securities
| Published on 05 Apr 2013 • USA (National/Federal) |
The SEC's Division of Corporation Finance revised its Financial Reporting Manual.
On April 4, 2013, the SEC's Division of Corporation Finance published an updated version of its Financial Reporting Manual. The revised manual reflects changes to, among other things:
- The maximum age of financial statements in foreign private issuer IPOs and exceptions thereto (Section 6220.3).
- Regulation S-X requirements for foreign private issuers (Section 6320.6).
- Financial statement requirements for foreign incorporated acquirees or investees that do not qualify as a foreign business (Section 6410.9).
A summary of the revisions appears on page one of the revised manual. The revised sections are marked with the date tag, "Last updated: 12/31/2012".
For more information on SEC financial reporting requirements, see Practice Note, Regulation S-X: What Lawyers Need to Know. For an overview of the sources of law and regulation of accounting, auditing and financial reporting, see Practice Note, Accounting, Auditing and Financial Reporting in the US: Governing Authorities.