SEC Chief Accountant Sagar Teotia issued a public statement emphasizing the importance of high-quality, timely financial information for the capital markets during COVID-19. The statement provides disclosure reminders about a company’s ability to continue as a going concern, and reiterates the importance of financial reporting controls and the vital role of audit committees.
Chief Accountant Sagar Teotia emphasized the important role that each participant of the financial reporting system plays to provide timely, decision-useful information to investors and the capital markets.
He offered observations and reminders that promote high-quality financial reporting, which he noted to be particularly important during the current period of uncertainty.
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