Removes outdated Division guidance and GAAP references. In addition, updates
are being made in response to changes in GAAP adoption dates as well as
guidance issued by the PCAOB, Division, and Office of Chief Accountant over
the past few years.
Clarifies (in Section 2050.1) that Regulation S-X, Rule 3-13, applies only
to the financial statements included in a Form 8-K and not to the
requirement itself for filing the form in a timely manner.
Makes clarifications to Sections 1140.5, 2200.7, and 4110.5 for audit
requirements related to a special-purpose acquisition company registrant’s
nonreporting target in Form S-4/Form F-4.
Makes clarifications (in Section 2410.4) regarding the income test
calculation under Regulation S-X, Rule 3-09, when there is more than one
equity method investee.
Describes (in Section 4220) the impact a substantial-deficiency situation
may have on the “timely filed” criteria in certain rule and form eligibility
Revises Section 4710 to include another example of when a “to be issued”
accountant’s report may be accepted.
For more information, see the FRM on the SEC’s