SEC

The Financial Accounting Standards Board said Tuesday the Securities and Exchange Commission has accepted the latest updates to the GAAP Taxonomy for filing financial statements with the SEC.

The move is aimed at helping pave the way for a potential international standard-setter for ESG accounting.

The Securities and Exchange Commission has formed a Climate and ESG Task Force in its enforcement division to identify misconduct in environmental, social and governance reporting.

A major merger puts the firm in the lead at the end of a difficult year.

Embattled Chinese coffee chain Luckin Coffee Inc. filed for Chapter 15 bankruptcy in New York, less than a year after the company said that more than a quarter’s worth of business may have been faked.

A major merger with another Top 100 Firm put it far in the lead.

The Securities and Exchange Commission tapped deputy chief accountant Paul Munter to become acting chief accountant when chief accountant Sagar Teotia leaves in February.

Some leading organizations are taking the SEC’s cue and tightening up their filings to provide stakeholders with better clarity, focus and insight.

President Biden has picked Allison Herren Lee, a member of the Securities and Exchange Commission, as the acting chair of the SEC, as nominee Gary Gensler waits in the wings as a more permanent chair once he is confirmed by the Senate.

President-elect Joe Biden’s team of financial regulators is taking shape, with progressive favorites being chosen for the top jobs at the Securities and Exchange Commission and the Consumer Financial Protection Bureau — moves that mean Wall Street should prepare itself for a new era of tougher oversight and stricter rules.

Sagar Teotia, chief accountant at the Securities and Exchange Commission, plans to leave the SEC at the end of February.

Gary Gensler, a former head of the U.S.’s main derivatives regulator, is President-elect Joe Biden’s likely pick to lead the Securities and Exchange Commission, according to two people familiar with the matter.

The Public Company Accounting Oversight Board said Tuesday that board member J. Robert Brown will be leaving the PCAOB at the end of this month, the latest in a string of high-profile departures in recent years.

The work-from-home phenomenon has triggered a fresh frustration for U.S. corporations: Americans are blowing the whistle on their employers like never before.

Commissioner Elad Roisman will step into the position Jay Clayton vacated last week.

The Financial Accounting Foundation names new members to a major advisory board, Connecticut firms turn out for a big annual food drive, and other news from across the profession.

A recent case is a warning that companies must disclose the financial impact of the pandemic.

The SEC Reporting Taxonomy and GAAP taxonomy still need to be approved by the SEC.

The board's spending is expected to increase only slightly next year, thanks to the pandemic.

The company made up more than $300 million in fake retail sales.