USA: improving financial reporting for investors

The SEC's Advisory Committee on Improvements to Financial Reporting has published its final report. The report makes recommendations within the following five areas:

• Increasing the usefulness of information in SEC filings
  
• Enhancing the accounting standards-setting process
  
• Improving the substantive design of new standards
  
• Delineating authoritative interpretive guidance
  
• Clarifying guidance on financial restatements and accounting judgments
  

For further information, including a video commentary provided by SEC Chairman Cox and Advisory Committee Chairman Pozen, click here.