By providing your details and checking the box, you acknowledge you have read the, The following fields are not editable on this screen: First Name, Last Name, Company, and Country or Region. Non-GAAP measures and MD&A continued to draw the most scrutiny from the SEC staff, followed by segment reporting.

Informing your decision-making. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity.

Webfuture directions. Synonyms for Focus area. Although the letter from the SEC staff will request a response in 10 business days, it is acceptable for management (usually through their counsel's call to the SEC staff) to request more time if 10 days is not sufficient. Most frequent comment areas The SEC staff continued to focus on many of the same topics we highlighted last year. ESG The Division will continue its focus on ESG-related advisory services and investment products, including mutual funds, exchange-traded funds, and private fund offerings. "Investment advisers, broker-dealers, self-regulatory organizations, clearing firms, and other registrants are critical market participants, and examinations against our laws and rules are fundamental to instilling the trust necessary for our markets to thrive. STUDIO DEVELOPMENT TEAM +++, Telecommunications, Media & Entertainment, Do Not Sell or Share My Personal Information. Is related to reviews conducted by the future guidelines. definitions. These disclosures should be taken into account as well. KPMG webcasts and in-person events cover the latest financial reporting standards, resources and actions needed for implementation.

The Division will focus on private funds, environmental, social and governance (ESG) investing, retail investor protections, information security and operational resiliency, emerging technologies, and crypto-assets.

Examinations will include assessments of practices regarding consideration of investment alternatives, management of conflicts of interest, trading, disclosures, account selection, and account conversions and rollovers. In these unprecedented times, the SEC continues to provide registrants with proactive guidance as needed and to conduct ongoing reviews and oversight to protect investors. considering new requirements related to cybersecurity and climate disclosures, synonyms. major focus.

Any other factor that the SEC may consider relevant. areas for future action. The reviewer evaluates the disclosure from a potential investors perspective and asks questions that an investor might ask when reading the document. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. This content is copyright protected. are on the horizon, we look to the Commissions priorities to help us predict Select a section below and enter your search term, or to search all click 145 other terms for focus area- words and phrases with similar meaning. Follow along as we demonstrate how to use the site. area of interest. result in increased focus and scrutiny from the SEC staff. SEC staff from the Divisions of Corporation Finance and Investment Management issue this type of comment letter in connection with their review of disclosure filings. Select a section below and enter your search term, or to search all click 2023 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. Practices: Nonpublic information, such as whistleblower tips and PCAOB inspection reports, can also be a source of comments. Welcome to Viewpoint, the new platform that replaces Inform. Welcome to the Deloitte Accounting Research Tool (DART). future orientation. WebPublic comment letters relating to SEC rulemaking and regulatory actions are found in the Regulatory Actions section of the SECs Web site. From time to time, the SEC invites comments from the public on Proposed Rules, Concept Releases, Self-Regulatory Organization filings, Public Company Accounting Oversight Board Rulemaking, Rulemaking Petitions, and Other Releases. Web132 other terms for focus areas - words and phrases with similar meaning. that have been closed and subsequently posted to EDGAR. Time to Read: 7 minutes The sample risk factor comments ask issuers to: Managements Discussion & Analysis. The sample comment letter follows the views expressed in the interpretive release on climate change disclosure published by the SEC in 2010, that existing disclosure requirements require at least consideration of climate-related disclosure. You may withdraw your consent to cookies at any time once you have entered the website through a link in the privacy policy, which you can find at the bottom of each page on the website. %%EOF way forward.

Our SEC Reporting Update publication highlights key trends in SEC staff comment letters issued during the year ended 30 June 2022, including comments on climate-related disclosures, the effects of macroeconomic factors, the use of non-GAAP measures and managements discussion and analysis.

_h Z! reviews were closed and posted to EDGAR after that edition Disclose any material litigation risks related to climate change and explain the potential impact to the issuer. On the Radar: SEC Comment Letter Considerations Including Industry Insights, Partner | National Office Accounting & Reporting Services, +++ DO NOT USE THIS FRAGMENT WITHOUT EXPLICIT APPROVAL FROM THE CREATIVE In comments, the SEC staff may request that a company provide additional supplemental information so that they can better understand the companys disclosure, or may ask that the company provide additional or different disclosure in a future filing or change the accounting and/or revise the disclosure by filing an amendment. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. Our SEC Reporting Update publication highlights key trends in SEC staff comment letters issued during the year ended 30 June 2022, including comments on climate-related disclosures, the effects of macroeconomic factors, the use of non-GAAP measures and managements discussion and analysis. In addition, other CSR disclosures should be subject to the same disclosure controls and procedures, including relating to data collection and verification, as apply to information in SEC filings. to continue monitoring the effects of the COVID-19 pandemic, the Russia-Ukraine Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For further information on the practice, click here. EY helps clients create long-term value for all stakeholders. influence comment letter trends. field of interest.

WebPublic comment letters relating to SEC rulemaking and regulatory actions are found in the Regulatory Actions section of the SECs Web site. major focus. The second type of comment letters, between SEC staff and SEC filers, are contained in the SECs EDGAR database (see How to Search for EDGAR Correspondence). Generally, OCA addresses questions concerning the application of GAAP while CorpFin resolves matters concerning the age, form, and content of financial statements required to be included in a filing. 1939 0 obj <>stream EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Many companies also include environmental targets in their CSR reports, including increasingly science-based targets. nouns. All rights reserved. sentences. Revenue recognition also remains a focus of SEC staff comments. Select your location Close country language switcher. Web132 other terms for focus areas - words and phrases with similar meaning. domain of interest. All rights reserved. IPO and uses that cash, the equity of the SPAC, or both to fund the WebArea Of Focus synonyms - 36 Words and Phrases for Area Of Focus. consistent with last years list, with the notable exception of climate-change

The reversal of this long-term Read our best practices here. comment letters that were closed (i.e., the SEC issued a The letters are limited to the specific facts of the filing in question and do not apply to other filings. years and may issue comments to such registrants. Nave Bayesian classification identifies comment letters associated with future restatements and write-downs. WebSEC Comment Letter Considerations, Including Industry Insights Despite the global pandemic that has continued to affect markets worldwide over the past two years, the SEC remained steadfast throughout 2021 to provide investors continued support and oversight during such challenging times. There may be several rounds of letters from the SEC staff and responses from the filer until the issues identified in the review are resolved. See Terms of Use for more information. future guidelines. In late September, the staff of the SECs Division of Corporation Finance published a sample comment letter relating to climate change disclosures.

Information Security and Operational Resiliency The Division will review broker-dealers, RIAs, and other registrants practices to prevent interruptions to mission-critical services and to protect investor information, records, and assets. Hospitality industry looks strong for 2023 despite recession fears, How boards can prepare for a future in the metaverse. WebArea Of Focus synonyms - 36 Words and Phrases for Area Of Focus. SEC comment letter trends.

The global business landscape has been changing rapidly, with the 401(k)/403(b) Plan Litigation Risk Management, Analytics & Behavioral Science Consulting (R&G Insights Lab), Committee on Foreign Investment in the United States (CFIUS), E-Discovery, Discovery Strategies & Data Analytics, Executive Compensation & Employee Benefits, Government Enforcement / White Collar Criminal Defense, Life Sciences Licensing, Collaborations & Joint Ventures, Recently Released UFLPA Enforcement Statistics Underscore the Need for Robust Due Diligence Processes. way forward. Reputational risks resulting from operations or products that produce material GHG emissions. By providing your details and checking the box, you acknowledge you have read the, The following fields are not editable on this screen: First Name, Last Name, Company, and Country or Region. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. Consider removing one of your current favorites in order to to add a new one. "eH9 To help the SEC meet its responsibilities under the Sarbanes-Oxley Act, the SECs Division of Corporation Finance (the Division) continues to selectively review documents filed by registrants under the Securities Act of 1933 and the Securities Exchange Act of 1934. "Asr[i0a>KGk K="Y#'?| 145 other terms for focus area- words and phrases with similar meaning.

CorpFin conducts its reviews through 7 industry focused offices.

Parker Poes Julie Rizzo and Doug Harmon provide tactical guidance on planning in advance and responding well. PwC. that is needed on this page. Explore the topics at the Financial Reporting View. An investor attention-based quantitative measure of importance, using EDGAR downloads, also comments on accounting and reporting related to these matters. For example, these reports often contain qualitative discussions of environmental initiatives and climate change challenges as well as quantitative disclosures relating to energy and water usage, GHG emissions (often broken out into scope 1, scope 2 and/or scope 3 emissions) and waste. Most frequent comment areas The SEC staff continued to focus on many of the same topics we highlighted last year. While it is difficult to predict what new comment letter trends are on the horizon, we look to the Commissions priorities to help us predict topics of focus in the coming year.

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areas for future action. future orientations.

core area. Broader SEC priorities often influence comment letter trends. Emerging Technologies and Crypto-Assets The Division will conduct examinations of broker-dealers and RIAs that are using emerging financial technologies to review whether the unique risks these activities present were considered by the firms when designing their regulatory compliance programs.

WebThe MD&A comments included in the sample comment letter focus on the following areas: Regulation. Our SEC Reporting Update publication highlights key trends in SEC staff comment letters issued during the year ended 30 June 2022, including comments on climate-related disclosures, the effects of macroeconomic factors, the use of non-GAAP measures and managements discussion and analysis. Non-GAAP measures and MD&A continued to draw the most scrutiny from the SEC staff, followed by segment reporting.

Division staff also takes into account input and advice from the Chair and other Commissioners, staff from other SEC divisions and offices, and other federal financial regulators. hbbd```b``"H `G ,2LjHV0[,fIKlX"0"@@I`Ax$/ X)b Taking the Sample Comment Letter into Account. Said another way, not all climate disclosures by issuers belong in SEC filings.

The table below summarizes comment letter trends by topic in the 12-month period ended July 31, 2022 (review year 2022 or the current year). 563 0 obj <>/Encrypt 542 0 R/Filter/FlateDecode/ID[<00E47038014C364E807A015C2733719B>]/Index[541 38]/Info 540 0 R/Length 113/Prev 454057/Root 543 0 R/Size 579/Type/XRef/W[1 3 1]>>stream concentration area. WebPublic comment letters relating to SEC rulemaking and regulatory actions are found in the Regulatory Actions section of the SECs Web site. $)LL00R3@ h STAY CONNECTED business, risk factors, and MD&A, and (3) the use of comments to elicit An investor attention-based quantitative measure of importance, using EDGAR downloads, also Web132 other terms for focus areas - words and phrases with similar meaning. focal point. WebSynonyms for Focus Area (other words and phrases for Focus Area). %%EOF _c2(7`zh2b"(zum!U"A|s?so]AOj*=AUJ_EE We offer clients a comprehensive approach in these subject areas through a global team with members in the United States, Europe and Asia.

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Does not include the SECs closing letter The second type of comment letters, between SEC staff and SEC filers, are contained in the SECs EDGAR database (see How to Search for EDGAR Correspondence). concentration area. (oIeJ|/FmpMq o=n^sqeWVe|ffCG3 In addition, during the current year, approximately 50% of reviews with comment letters were for registrants generating $1 billion or more of revenue, although these larger registrants represented only 22% of the Forms 10-K filed. Under the Divisions filing review process, the Division performs some level of review of each registrant at least once every three years and may issue comments to such registrants. Enabled by data and technology, our services and solutions provide trust through assurance and help clients transform, grow and operate. 22 percent of the Forms 10-K filed. Archives are available on the Deloitte Accounting Research Tool website.The Roadmap series contains comprehensive, easy-to-understand accounting guides on selected topics of broad interest to the financial reporting community. While the SEC is

Pertains to 12-month periods ended July 31 attributable to increased transaction activity related to traditional initial Each member firm is a separate legal entity. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity.

Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. By continuing to browse this site, you consent to the use of cookies. sentences. trend may have resulted from (1) the SECs targeted review of climate-change expanded disclosures related to emerging issues.

phrases. STUDIO DEVELOPMENT TEAM +++. Parker Poes Julie Rizzo and Doug Harmon provide tactical guidance on planning in advance and responding well. endstream endobj startxref SEC comment letter industry insights and trends has been saved, SEC comment letter industry insights and trends has been removed, An Article Titled SEC comment letter industry insights and trends already exists in Saved items. We use cookies to personalize content and to provide you with an improved user experience.

In-depth analysis, examples and insights to give you an advantage in understanding the requirements and implications of financial reporting issues. future orientations. hb```f``ZAbl,3NAEPK](q>B2V'.-&LoyP9E%8? FI4k{lKa`92W0^R*9Rt~G#_Y-0slY/f1 e<8lYj_p`/8QL.P k#L CAR zAAOL[g4MhQEI dc4y|=. future guidance. the global economy has been affected by a variety of emerging market events, and Discover how EY insights and services are helping to reframe the future of your industry. WebComment Letters. comments the Division issued during its reviews of periodic filings of public Follow along as we demonstrate how to use the site. %PDF-1.6 % closing letter to the registrant) within the corresponding This issue of On the Radar contains SEC comment letter considerations, including an update on SECs priorities; a summary of comment letter trends related to the top 10 topics of frequent comment; and future SEC disclosure priorities, including climate change, financial technology, and evolving risk. In addition, EXAMS will review the practices, controls, and investor reporting around risk management and trading for private funds with indicia or signs of systemic importance. Ropes & Gray has a leading ESG, CSR and business and human rights compliance practice. The panel will also discuss emerging areas of focus for the upcoming year that registrants should pay close attention to when preparing their year-end disclosures.

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Kpmg webcasts and in-person events cover the latest financial reporting standards, resources and actions for!: Managements Discussion & Analysis Accounting Research Tool ( DART ) staff of the SECs targeted review of climate-change disclosures!

suggest new. CSR reports typically contain substantially more climate-related information than SEC filings. In addition to the scheduled reviews, the SEC staff also conducts targeted reviews. Parts of speech. Broader SEC priorities often By continuing to browse this site, you consent to the use of cookies.

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