SEC Proposed Rule Release No. 33-11042, The Enhancement and Standardization of Climate-Related Disclosures for Investors.
The objective of a limited assurance engagement is for the service provider to express a conclusion about whether it is aware of any material modifications that a registrant should make to ensure that the subject matter (e.g., the Scope 1 and Scope 2 GHG emission disclosure) is fairly stated or in accordance with the relevant criteria. By contrast, the objective of a reasonable assurance engagement, which provides the same level of assurance as an audit of a registrant’s financial statements, is to express an opinion on whether the subject matter is, in all material respects, in accordance with the relevant criteria.
If a large accelerated filer or accelerated filer does not have a calendar year-end and its 2023 or 2024 fiscal year would begin before the mandatory compliance dates described above, the registrant would not have to comply with the GHG emissions disclosure requirements until the following fiscal year. That is, calendar-year-end companies would be the first to be required to adopt the proposed rule.
FASB Accounting Standards Codification (ASC) Topic No. 250, Accounting Changes and Error Corrections.
See SEC Final Rule Release No. 33-8177, Disclosure Required by Sections 406 and 407 of the Sarbanes-Oxley Act of 2002.
SEC Proposed Rule Release No. 33-11038, Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure.
SEC Interpretation Release No. 33-9106, Commission Guidance Regarding Disclosure Related to Climate Change.