The SEC charged a motor company for misleading investors about the company's plans to develop the first full-size electric pickup truck and separately charged the company's accounting firm for violating auditor independence rules.
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The U.S. District Court for the Southern District of New York granted the SEC summary judgment against the CFO and Controller of a software company on fraud charges related to the recognition of revenue under GAAP standards.
The SEC adopted the 2024 annual budget of the Public Company Accounting Oversight Board along with the related annual accounting support fee.
SEC Chief Accountant Paul Munter reminded issuers, preparers and auditors of their responsibilities to provide transparent, high-quality cash flow information for the protection of investors.
A Canadian chartered bank settled charges with the SEC for accounting control deficiencies that affected the cost capitalization accounting on the bank's internally developed software.