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U S SEC official warns Wall Street of risks associated with blank-check companies
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U S SEC official warns Wall Street of risks associated with blank-check companies
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U S SEC official warns Wall Street of risks associated with blank-check companies
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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