CAQ Releases Highlights of June 2019 Joint Meeting With the SEC Staff

The Center for Audit Quality (CAQ) has published highlights of the June 25, 2019, CAQ SEC Regulations Committee joint meeting with the SEC staff.

Topics discussed at the meeting include:

• Use of income averaging for purposes of testing significance when registrant has applied the full retrospective method of adopting ASC 606 but has not revised the earliest two periods.
• Emerging Growth Company (EGC) Transition Issues.
• Application of amended MD&A provisions that permit the omission of the earliest period of MD&A in a filing in circumstances where there has been a retrospective change to the financial statements.
• Interim periods required for changes in stockholders’ equity in a registration or proxy statement.
• Non-GAAP measures, including individually tailored non-GAAP financial measures.

For more information, see the highlights on the CAQ's Web site.