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THE SEC'S EPS INITIATIVE

Strategic finance (Montvale, N.J.), 2022-05, Vol.103 (11), p.42-49

Copyright Institute of Management Accountants May 2022 ;ISSN: 1524-833X

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Title:
THE SEC'S EPS INITIATIVE
Author: Lamb, Laura Bea ; Wright, Jessie Kinsley ; Morlino, Stasia H ; Boyle, Douglas M
Subjects: Accounting ; Annual reports ; Corporate profits ; Data analysis ; Disclosure ; Earnings management ; Earnings per share ; Enforcement ; Extensible Business Reporting Language ; Financial reporting ; Fines & penalties ; Fraud ; Initiatives ; Mortgage servicing ; Profitability ; Valuation ; Violations
Is Part Of: Strategic finance (Montvale, N.J.), 2022-05, Vol.103 (11), p.42-49
Description: Additionally, according to Verschoor, poor earnings quality can lead to a higher cost of capital due to "lower price-earnings ratios, negative attitudes of analysts who follow the company, and effects on bid-ask spreads." Reinforcing the importance of correctly reporting EPS, Anita B. Bandy, an associate director in the SEC Division of Enforcement, stated in a September 2020 speech that, "while difficult to detect, improper quarterly adjustments can have a material impact on reported EPS and how investors view a company's reported financial results. [...]auditors should test all material differences whether or not they result in an overstatement or understatement of earnings. According to the SEC's order, the company and executives violated certain antifraud provisions of the Securities Act of 1933 and violated the books and records provisions of the Securities Exchange Act of 1934.
Publisher: Montvale: Institute of Management Accountants
Language: English
Identifier: ISSN: 1524-833X
Source: ProQuest Central

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THE SEC'S EPS INITIATIVE

Copyright Institute of Management Accountants May 2022 ;ISSN: 1524-833X

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