SEC Chief Accountant Issues Statement on Financial Reporting During COVID-19

SEC Chief Accountant Sagar Teotia has issued a statement on the importance of high-quality financial reporting in light of the significant impacts of COVID-19. The statement discusses recent engagement with stakeholders on the following topics:

• OCA’s engagement and work related to high-quality financial reporting.
• Engagement with the FASB and the PCAOB.
• Engagement with international standard setters and other regulators.
• Engagement with and the vital role of audit committees.