SEC Staff to Hold Roundtable on "Measurement Uncertainty in Financial Reporting"
FOR IMMEDIATE RELEASE
Washington, D.C., Oct. 21, 2011 – The Securities and Exchange Commission today announced that the inaugural roundtable in the Financial Reporting Series will be held on November 8.
The purpose of the Financial Reporting Series is to proactively help identify risks and potential improvements in the financial information provided to investors. The inaugural roundtable will examine the extent to which financial reporting should include measurement uncertainties, and the information investors find important to understanding and assessing those uncertainties.
"We want to consider whether the right balance has been struck to provide investors with useful information," said SEC Chief Accountant James Kroeker. "This roundtable discussion will provide us with an opportunity to hear directly from investors about the challenges in understanding the types of uncertainties included in financial reports."
The roundtable will feature three panels comprised of investors, financial statement preparers, and auditors. The chairs of the Financial Accounting Standards Board and the Public Company Accounting Oversight Board will attend as observers. A final agenda and list of participants will be published closer to the event date.
The roundtable will begin at 10 a.m. in the multipurpose room at the SEC's headquarters at 100 F Street, N.E., Washington, D.C. It is open to the public with seating on a first-come, first-served basis, and also may be viewed via a live webcast on the SEC website.
A briefing paper highlighting the issues to be considered at the roundtable is available at http://www.sec.gov/about/offices/oca/ocafrseries-briefing-measurement.htm. The SEC staff welcomes comment on the issues to be addressed and suggestions for potential participants at the roundtable, using the following methods:
Send in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street, N.E., Washington, D.C. 20549-1090. Cite File Number 4-640.
All submissions received will be posted on the SEC's website. The agency does not edit personal identifying information, so submit only information you wish to be made public.
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