The use of non-GAAP financial measures by public companies continues to draw regulatory scrutiny and media attention. Companies often use these measures to supplement GAAP numbers and convey information they believe is relevant, meaningful and useful in understanding financial position, performance and liquidity. The SEC however has repeatedly cautioned that the use of non-GAAP financial measures must be for appropriate purposes. Join our experts for this CLE webinar, where we will:
- Revisit the nature and purpose of non-GAAP financial measures;
- Review the current regulatory framework, including Regulation G, item 10(e) of Regulation S-K and the C&DIs issued by the SEC’s Division of Corporation Finance;
- Examine recent SEC guidance on key performance indicators (KPIs) and metrics used in MD&A and other company disclosures;
- Examine recent SEC guidance on non-GAAP financial measures in COVID-19 disclosures;
- Examine recent SEC comment letters on non-GAAP financial measures and KPIs and identify areas of concern of the SEC’s Division of Corporation Finance;
- Look at SEC enforcement actions related to non-compliance;
- Examine audit committee and management roles in compliance and effective disclosure controls;
- Offer practical suggestions for ongoing compliance with SEC rules and guidance on non-GAAP financial measures, KPIs and metrics; and
- Proposed amendments to MD&A.
For additional information, or to register, please visit the event website.