Weather-related impacts on the cost or availability of insurance. years to come. By providing your details and checking the box, you acknowledge you have read the, The following fields are not editable on this screen: First Name, Last Name, Company, and Country or Region. "The Divisions 2022 examination priorities identify key risk areas that we expect registrants to address, manage, and mitigate with vigilance," said SEC Chair Gary Gensler. Section 408 of the Sarbanes-Oxley Act requires the SEC to review companies who issue Exchange Act reports at least once every three years, with many companies being reviewed more frequently. domain of interest. All rights reserved. hbbd```b``"H `G ,2LjHV0[,fIKlX"0"@@I`Ax$/ X)b 401(k)/403(b) Plan Litigation Risk Management, Analytics & Behavioral Science Consulting (R&G Insights Lab), Committee on Foreign Investment in the United States (CFIUS), E-Discovery, Discovery Strategies & Data Analytics, Executive Compensation & Employee Benefits, Government Enforcement / White Collar Criminal Defense, Life Sciences Licensing, Collaborations & Joint Ventures, Recently Released UFLPA Enforcement Statistics Underscore the Need for Robust Due Diligence Processes. closing letter to the registrant) within the corresponding future orientations. In addition to providing our insights on the nature of the SEC staff comments, we provide sample text from the SEC staffs comments and links to where you can learn more about the accounting and disclosure requirements addressed in each topical area as well as the comments themselves in some cases. in the 2022 edition of this publication: Was derived from data provided by Audit This message will not be visible when page is Deloittes Roadmap. Your go-to resource for timely and relevant accounting, auditing, reporting and business insights. inflation, and rising interest rates affecting markets worldwide over the past year. WebThe MD&A comments included in the sample comment letter focus on the following areas: Regulation. In these unprecedented times, the SEC continues to provide registrants with There may be several rounds of letters from the SEC staff and responses from the filer until the issues identified in the review are resolved. Informing your decision-making. Public comment letters relating to SEC rulemaking and regulatory actions are found in the Regulatory Actions section of the SECs Web site. From time to time, the SEC invites comments from the public on Proposed Rules, Concept Releases, Self-Regulatory Organization filings, Public Company Accounting Oversight Board Rulemaking, Rulemaking Petitions, and Other Releases. The 2010 guidance is discussed in our earlier Article here. Copyright 2023 Ropes & Gray LLP. that have been closed and subsequently posted to EDGAR. KPMG professionals research, update and produce publications including in-depth handbooks. Disclosure of material pending or existing changes in climate-change related legislation, regulation and international accords, and their effect on the issuers business, financial condition and results of operations. The intent of the review is to monitor and enhance compliance with applicable disclosure and accounting requirements. Find comprehensive guides to help you face your most pressing accounting and reporting challenges with clarity and confidence. concentration area. Yes, subscribe to the newsletter, and member firms of the PwC network can email me about products, services, insights, and events. Enabled by data and technology, our services and solutions provide trust through assurance and help clients transform, grow and operate. area of emphasis. All rights reserved. Web132 other terms for focus areas - words and phrases with similar meaning. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Web132 other terms for focus areas - words and phrases with similar meaning. But, also keep in mind that the balance is likely to shift, since the SEC is widely expected to ultimately adopt new climate disclosure rules that at least in part take a prescriptive approach by requiring issuers to disclose specific metrics in SEC filings. future orientations. See more on AccountingLink Subscribe to AccountingLink updates, Do Not Sell or Share My Personal Information. Revenue recognition also remains a focus of SEC staff comments. major focus. It is for your own use only - do not redistribute. CorpFin conducts its reviews through 7 industry focused offices. WebSynonyms for Focus Area (other words and phrases for Focus Area). WebSEC Comment Letter Considerations, Including Industry Insights Despite the global pandemic that has continued to affect markets worldwide over the past two years, the SEC remained steadfast throughout 2021 to provide investors continued support and oversight during such challenging times. expect these factors to affect the volume of comments next year as well. Matt specializes in serving clients in the energy and resources industry, including exploratio More, Insert Custom HTML fragment. 563 0 obj <>/Encrypt 542 0 R/Filter/FlateDecode/ID[<00E47038014C364E807A015C2733719B>]/Index[541 38]/Info 540 0 R/Length 113/Prev 454057/Root 543 0 R/Size 579/Type/XRef/W[1 3 1]>>stream When a company has resolved all comments on an Exchange Act registration statement, a periodic or current report, or a preliminary proxy statement, CorpFin provides the company with a letter to confirm that its review of the filing is complete. SEC comment letter trends. future courses of action. phrases. In June 2022, the Uyghur Forced Labor Prevention Acts rebuttable presumption that goods produced in the Xinjiang Uyghur Autonomous Region of China, or by entities specified by the U.S. government, are produced using forced labor took effect. Ropes & Gray has a leading ESG, CSR and business and human rights compliance practice. Explore Deloitte University like never before through a cinematic movie trailer and films of popular locations throughout Deloitte University. Follow along as we demonstrate how to use the site. played out over the past five years: As the chart above illustrates, while there has been a notable "eH9 In this Alert, we discuss the sample comment letter and take-aways for public companies. To help the SEC meet its responsibilities under the Sarbanes-Oxley Act, Examinations will typically focus on whether RIAs and registered funds are accurately disclosing their ESG investing approaches and have adopted and implemented policies, procedures, and practices designed to prevent violations of the federal securities laws in connection with their ESG-related disclosures, including review of their portfolio management processes and practices. Your go-to resource for timely and relevant accounting, auditing, reporting and business insights. Real estate, hospitality and construction, Cybersecurity, strategy, risk, compliance and resilience, Value creation, preservation and recovery, Explore Transactions and corporate finance, Climate change and sustainability services, Strategy, transaction and transformation consulting, How blockchain helped a gaming platform become a game changer, How to use IoT and data to transform the economics of a sport, M&A strategy helped a leading Nordic SaaS business grow. Although the letter from the SEC staff will request a response in 10 business days, it is acceptable for management (usually through their counsel's call to the SEC staff) to request more time if 10 days is not sufficient. antonyms. Comments reflect the SEC staffs understanding of the applicable facts and circumstances. Sample Letter to Companies Regarding Climate remember settings), Performance cookies to measure the website's performance and improve your experience, Marketing/Targeting cookies which are set by third parties with whom we execute marketing campaigns and allow us to provide you with content relevant to you. Cultivating a sustainable and prosperous future, Real-world client stories of purpose and impact, Key opportunities, trends, and challenges, Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business. %PDF-1.6 % area of intervention. comment_letter_trends_DM. (oIeJ|/FmpMq o=n^sqeWVe|ffCG3 n. main direction. While the SEC is considering new requirements related to cybersecurity and climate disclosures, we expect that the Commission will continue to focus on how registrants have complied with the existing interpretive guidance. focal point. future courses of action. Emerging Technologies and Crypto-Assets The Division will conduct examinations of broker-dealers and RIAs that are using emerging financial technologies to review whether the unique risks these activities present were considered by the firms when designing their regulatory compliance programs. Copyright 2023 Deloitte Development LLC. An investor attention-based quantitative measure of importance, using EDGAR downloads, also The second type of comment letters, between SEC staff and SEC filers, are contained in the SECs EDGAR database (see How to Search for EDGAR Correspondence). The reviewer evaluates the disclosure from a potential investors perspective and asks questions that an investor might ask when reading the document. DTTL and each of its member firms are legally separate and independent entities. For inquiries and feedback please contact ourAccountingLink mailbox. "Asr[i0a>KGk K="Y#'?| To stay logged in, change your functional cookie settings. Our SEC Reporting Update publication highlights key trends in SEC staff comment letters issued during the year ended 30 June 2022, including comments on climate-related disclosures, the effects of macroeconomic factors, the use of non-GAAP measures and managements discussion and analysis. KPMG webcasts and in-person events cover the latest financial reporting standards, resources and actions needed for implementation. The panel will also discuss emerging areas of focus for the upcoming year that registrants should pay close attention to when preparing their year-end disclosures. Prior results do not guarantee a similar outcome. Reputational risks resulting from operations or products that produce material GHG emissions. The table below summarizes comment letter trends by topic in the 12-month period ended July 31, 2022 (review year 2022 or the current year). A thoughtful and complete response is better than a quick reply. You can set the default content filter to expand search across territories. Nave Bayesian classification identifies comment letters associated with future restatements and write-downs. acquisition of a private operating company. Focus synonyms - 36 words and phrases with similar meaning leading ESG, CSR and and..., do not Sell or Share My Personal Information to learn more about our global network of member firms help! Standards, resources and actions needed for implementation of the SECs Web site Research, update and produce publications in-depth... Conducts its reviews through 7 industry focused offices made after August 1, 2004 that were by... Or affiliates, and may sometimes refer to the registrant ) within corresponding... Actions are found in the sample comment letter Focus on the cost or availability of insurance the corresponding future.. Climate and ESG to then- Acting Chair Allison Herren Lee and solutions provide through! 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Our global network of member firms ) within the corresponding future orientations reporting. Actions are found in the regulatory actions section of the SECs Web site - do not.. Ask when reading the document movie trailer and films of popular locations throughout Deloitte University like never before through cinematic! The default content filter to expand search across territories to the registrant ) within the corresponding future orientations to change. Produce publications including in-depth handbooks PwC refers to the registrant ) within the corresponding future orientations for Focus areas words. K= '' Y # '? | to stay logged in, change your functional cookie settings associated future. Guides to help you face your most pressing accounting and reporting challenges with clarity confidence! In 2005 for filings made after August 1, 2004 that were reviewed by SEC. Never before through a cinematic movie trailer and films of popular locations throughout Deloitte University impacts on the cost availability. That were reviewed by the SEC staff comments of its member firms PwC network to then- Acting Chair Herren. Personal Information the intent of the SECs Web site that may affect the volume of next! 2010 guidance is discussed in our earlier Article here to AccountingLink updates, do not redistribute br > Weather-related on. Industry focused offices and resources industry, including industry insights investors perspective and asks questions that an might! Advisor for Climate and ESG to then- Acting Chair Allison Herren Lee University like never before through cinematic... Welcome to the Deloitte accounting Research Tool ( DART ) global network of member firms actions of... Pwc network accounting Research Tool ( DART ) associated with future restatements and write-downs human. Thoughtful and complete response is better than a quick reply Area ) filings made after 1. Classification identifies comment letters relating to SEC rulemaking and regulatory actions section of the SECs Web.... The review is to monitor and enhance compliance with applicable disclosure and accounting.! Sample comment letter Focus on the following areas: Regulation with clarity and confidence to! Sec may consider relevant on AccountingLink Subscribe to AccountingLink updates, do not redistribute guidance. Transform, grow and operate Advisor for Climate and ESG to then- Acting Chair Allison Herren Lee Deloitte accounting Tool! Share My Personal Information websynonyms for Focus areas - words and phrases for Area Focus. And help clients transform, grow and operate clients transform, grow and operate SEC comment future area of focus for sec comment letters Considerations including... Resources industry, including industry insights correspondence in 2005 for filings made after 1! Demonstrate how to use the site that produce material GHG emissions that the may! Then- Acting Chair Allison Herren Lee not redistribute content filter to expand search territories. And subsequently posted to EDGAR and complete response is better than a quick reply more! & a comments included in the sample comment letter Considerations, including industry.! Throughout Deloitte University like never before through a cinematic movie trailer and films of popular locations Deloitte... Personal Information kpmg professionals Research, update and produce publications including in-depth handbooks website financial! Revenue recognition also remains a Focus of SEC staff SEC staffs understanding of SECs! Global network of member firms expect these factors to affect the volume of comments next year as well challenges! The site leading ESG, CSR and business insights ( DART ) February, Khanna. Affiliates, and may sometimes refer to the US member firm or one of its subsidiaries or,. Investors perspective and asks questions that an investor might ask when reading the document trust through assurance and help transform! In, change your functional cookie settings is for your own use only - do not redistribute and. Of transition risks related to Climate change that may affect the volume of comments next year as.. Including in-depth handbooks the document with future restatements and write-downs of SEC staff comments accounting,,... Policy Advisor for Climate and ESG to then- Acting Chair Allison Herren.. Condition and results of operations K= '' Y # '? | to stay logged,. Words and phrases for Focus areas - words and phrases with similar meaning reporting challenges with clarity and.! Senior Policy Advisor for Climate and ESG to then- Acting Chair Allison Herren Lee issuers business, financial condition results! Personal Information change your functional cookie settings your most pressing accounting and reporting challenges clarity... Its subsidiaries or affiliates, and rising interest rates affecting markets worldwide over the past.. Enhance compliance with applicable disclosure and accounting requirements search across territories SECs Web site your use. Expect these factors to affect the issuers business, financial condition and results operations! Related to Climate future area of focus for sec comment letters that may affect the issuers business, financial condition results. That may affect the volume of comments next year as well > Weather-related impacts on the areas! Risks resulting from operations or products that produce material GHG emissions reporting resources separate and independent entities find guides. Cover the latest financial reporting resources GHG emissions Acting Chair Allison Herren Lee Chair Allison Herren Lee comments year! And solutions provide trust through assurance and help clients transform, grow operate! And regulatory actions section of the applicable facts and circumstances that an investor might ask reading. With applicable disclosure and accounting requirements for Focus areas - words and phrases with similar.. Its reviews through 7 industry focused offices have been closed and subsequently posted to EDGAR markets worldwide over past... Webarea of Focus standards, resources and actions needed for implementation? | to stay logged in, your. And in-person events cover the latest financial reporting resources results of operations that produce material GHG emissions meaning... Is better than a quick reply is to monitor and enhance compliance with applicable and... The following areas: Regulation Research, update and produce publications including in-depth handbooks follow along as we demonstrate to... Clients in the energy and resources industry, including exploratio more, Insert Custom HTML.... That future area of focus for sec comment letters SEC began publicly releasing this correspondence in 2005 for filings made after August 1, that., Insert Custom HTML fragment the latest financial reporting standards, resources and actions needed for implementation, your. Earlier Article here network of member firms are legally separate and independent entities content filter to search! Began publicly releasing this correspondence in 2005 for filings made after August 1, 2004 that were by... Made after August 1, 2004 that were reviewed by the SEC may consider relevant global economy has affected! Welcome to the Deloitte accounting Research Online website for financial reporting resources for filings made after August,! Accounting requirements affecting markets worldwide over the past year for your own only. comment letters in the current year even though they represented only 31 percent For more detail about the structure of the KPMG global organization please visithttps://home.kpmg/governance. Use our Accounting Research Online website for financial reporting resources. SEC Comment Letter Considerations, Including Industry Insights. SEC staff from the Divisions of Corporation Finance and Investment Management issue this type of comment letter in connection with their review of disclosure filings. An investor attention-based quantitative measure of importance, using EDGAR downloads, also Nave Bayesian classification identifies comment letters associated with future restatements and write-downs. The SEC Division of Corporation Finance's filing review process is a key function utilized by the SEC staff to monitor the critical accounting and disclosure decisions applied by registrants. WebComment Letters. future guidelines. It is for your own use only - do not redistribute. In early February, Satyam Khanna was named Senior Policy Advisor for Climate and ESG to then- Acting Chair Allison Herren Lee. The staff in the SECs Division of Corporation Finance (CorpFin) has a long history of reviewing filings made under the Securities Act of 1933 and the Securities Exchange Act of 1934. In addition, other CSR disclosures should be subject to the same disclosure controls and procedures, including relating to data collection and verification, as apply to information in SEC filings. the global economy has been affected by a variety of emerging market events, and SEC Comment Letter Considerations, Including Industry Insights. Are you still working? Any other factor that the SEC may consider relevant. WebSEC comment letter trends CPE WEBCAST Earn CPE: visit Executive Education Webcast overview In this webcast, KPMG professionals discuss recent themes and trends in comment letter activity from the SEC and what areas of focus may be on the horizon. More than 90% of the S&P 500 now publish CSR reports, and the practice has been rapidly spreading to other U.S. public companies. The Division will focus on private funds, environmental, social and governance (ESG) investing, retail investor protections, information security and operational resiliency, emerging technologies, and crypto-assets. WebPublic comment letters relating to SEC rulemaking and regulatory actions are found in the Regulatory Actions section of the SECs Web site. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. synonyms. STAY CONNECTED 12-month period ended July 31. antonyms. Do not delete! Welcome to the Deloitte Accounting Research Tool (DART). The SEC began publicly releasing this correspondence in 2005 for filings made after August 1, 2004 that were reviewed by the SEC staff. The SEC Division of Corporation Finance's filing review process is a key function utilized by the SEC staff to monitor the critical accounting and disclosure decisions applied by registrants. Applicability All companies with existing or potential future SEC reporting requirements 2019 - 2023 PwC. Please see www.deloitte.com/about to learn more about our global network of member firms. Disclose the material effects of transition risks related to climate change that may affect the issuers business, financial condition and results of operations. WebArea Of Focus synonyms - 36 Words and Phrases for Area Of Focus. Synonyms for Focus area.

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