Report and Recommendations Pursuant to Section 401(c) of the Sarbanes-Oxley Act of 2002 on Arrangements With Off-Balance Sheet Implications, Special Purpose Entities, and Transparency of Filings by Issuers
- Topics:
- GAAP,
- GAAP and GAAS,
- Sarbanes Oxley Compliance
- Tags:
- Arrangement,
- Sarbanes-Oxley,
- Sales Force Management,
- Sales,
- Regulations,
- Government,
- GAAP,
- Financial Statements,
- Financial Accounting,
- Finance,
- ...
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Overview: This report addresses two primary questions: the extent of off-balance sheet ("OBS") arrangements, including the use of special purpose entities ("SPEs"), and (2) whether current financial statements of issuers transparently reflect the economics of off-balance sheet arrangements. To answer these questions, the staff of the Commission (the "Staff") conducted an empirical analysis of the filings of issuers as well as a qualitative analysis of pertinent U.S. Generally Accepted Accounting Principles ("GAAP") and Commission disclosure rules. This paper intends to fulfill the statutory mandate; the staff describes the study, reports its findings and provides recommendations.
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Format: PDF | Size: 1,208KB | Date: Jun 2005 | Pages: 119
