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On June 18, 2024, the SEC announced a settled enforcement action against R.R. Donnelly & Sons Co. focused on both ICFR and disclosure controls and procedures related to cybersecurity risk.  As you can read in the related Order, the company used an outside service provider to help monitor cybersecurity matters.  The service provider notified the company’s

On June 29, 2024, the SEC “made enhancements to sec.gov to improve compliance with federal statutes and standards as well as the site’s functionality.”
The appearance and organization of the new sec.gov are very different.  The “About” link in the top menu line provides paths to several reporting tools.
You can find the new CorpFin

Data tagging using XBRL has been a part of SEC reporting since 2009, with Inline XBRL phasing in starting in 2018.  Several uses for XBRL have evolved over this period.  The SEC staff utilizes this information in many ways, including uncovering issues during the CorpFin review process.  Some service providers use the database to provide

On March 7, 2024, the SEC announced settled charges against Skechers U.S.A., Inc. for failure to disclose related person transactions in its proxy statements and Part III of Form 10-K.  The Enforcement Order details several instances where family members and persons sharing the same household as directors and executive officers received compensation from Skechers in

When a company experiences a cybersecurity incident it must make a complex materiality judgment to determine if an Item 1.05 Form 8-K is required. The Form 8-K instructions state:
Item 1.05 Material Cybersecurity Incidents.

      • If the registrant experiences a cybersecurity incident that is determined by the registrant to be material, describe the material aspect of

Cheryl Linthicum, Associate Director at SEC Institute wrote this post.  You may want to check out the foreign private issuer workshops she and Gary Brown will be leading this year at https://www.pli.edu/programs/seci
IFRS 19, adopted in May 2024, permits financial statements of certain subsidiaries of reporting companies to provide reduced disclosures when applying recognition, measurement,