Agenda

SEC Zooms In on Non-GAAP in Recent Comment Letters

The SEC’s Division of Corporate Finance has sent hundreds of comment letters this year questioning the prominence of non-GAAP figures in companies’ earnings releases and other filings in what experts said is an easy gotcha for the staff.

…In a review of comment letters sent to Russell 3000 companies between January 2022 and May 2023 dealing with non-GAAP metrics, public company intelligence provider MyLogIQ found that the most prevalent issue the SEC raised was the prominence of non-GAAP, cited in one-third of the letters. Recurring expenses was the second most common topic, cropping up in 20% of comment letters, according to MyLogIQ, followed by individually tailored accounting measures in 16% of the letters.

admin

Recent Posts

‘Mission First:’ Military Directors More Likely to Hold CEOs Accountable

Boards have been steadily reinforcing their ranks through the addition of more directors with military…

2 months ago

Boards Consider Politically Connected Directors Under New Administration

Governance Professionals Caution Against Knee-Jerk Reactions to Shifting Political Winds Meta Platforms added Dana White,…

2 months ago

Let It Snow: CEOs with Cozy Pay and Cold Returns

Where CEO pay climbed and performance sank last year Danaher and United Parcel Service were…

3 months ago

How Boards Can Craft a Next-Level AI Strategy for 2025

As artificial intelligence grows more accessible, boards may have no choice but to embrace it…

3 months ago

Director Details: Who’s at the Table in 2024

A look at the demographics and skills of S&P 500 directors. Corporate boards have greater…

3 months ago

Long-Tenured Independent Directors Lower Litigation, Activist Risks

Companies with independent directors who've served on the board for more than 15 years are…

3 months ago