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Climate change is an often talked about issue. Some firmly believe in it; others do not. Regardless of your view, there is a significant quantum of information available on the subject. There is also no doubt that climate has an impact on business enterprises and the ability to deliver services or product.
Viewed in this context, many investors may want to know how executives making critical decisions about the use of investor capital consider the question. The question then is what do business firms and asset managers disclose on the subject?
Securities and Exchange Commission Chief Accountant Sagar Teotia and his deputies shared their current activities and future plans at the AICPA’s conference on current SEC and Public Company Accounting Oversight Board (PCAOB) developments earlier this week. Among other things, they discussed their work relating to public company financial reporting, accounting and auditing policy updates, and financial reporting considerations related to COVID-19.
Sagar Teotia
Teotia said the key activities overhanging everything the Office of the Chief Accountant (OCA) does include investor protection, seeking engagement with constituents, being candid and transparent, and attaining the highest quality financial reporting.
The OCA works closely with other U.S. regulators, like the Financial Accounting Standards Board and the PCAOB, and international counterparts. Teotia stressed that to properly conduct its domestic activities, the OCA needs a broad view of international activities and differen