Securities and Exchange Commission (SEC) Chair Paul Atkins has fast-tracked a rulemaking that would give companies the option to skip providing quarterly reports and instead report semi-annually. However, at recent conferences, experts—including former SEC officials in accounting roles—say that this transition will not be as easy as flipping a switch and simply discarding quarterly reports.
There are other considerations that might not have been obvious when President Trump, for the second time around, suggested the SEC reduce the frequency of reporting.
Diana Stoltzfus, a former SEC deputy chief accountant who is now a national office partner at PricewaterhouseCoopers LLP, said that companies will need to consider the industry they are in and assess how important quarterly reporting is for that sector.
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