Читать книгу Wiley GAAP: Financial Statement Disclosure Manual - Joanne M. Flood - Страница 103

In August 2018, the SEC as part of its Disclosure Simplification Initiative published a rule reducing the public company's disclosure requirements and asked the FASB to review its corresponding disclosure rules. For more information, see SEC Release No. 33‐10110 on sec.gov.

In December 2015, the Fixing America's Surface Transportation (FAST) Act directed the SEC to modernize and simplify form S‐K requirements. The SEC is reviewing specific sections of regulations S‐K and S‐X, with a goal of updating requirements and eliminating duplicate disclosures. The Commission also wants to continue to provide material information and reduce cost burdens on companies. As part of the project, the SEC amended its rules in August 2018 and March 2019. In January 2020, the SEC, in response to a study mandated by the Jumpstart Our Business Startups Act, proposed amendments to modernize, simplify, and enhance certain financial disclosures required by Regulation S‐K. These proposed changes are designed to eliminate duplicative disclosures and modernize and enhance Management's Discussion and Analysis disclosures. Those interested in the SEC's disclosure project should visit sec.gov.