- All too often you hear about the cost of doing business and the mountain of compliance exercises that must be undertaken for the privilege of being listed on a public stock exchange. With the seemingly endless array of documents, disclosures, and deadlines by which a public company must abide, it is no surprise that many CFOs feel the same way about the Securities and Exchange Commissions’ electronic data mandate: it is just another compliance exercise that creates no value for the company.
- The American Institute of Certified Public Accountants (AICPA) issued a financial reporting framework that will greatly simply the financial reporting process for private companies.
- Companies that meet the criteria must perform a Reasonable Country of Origin Inquiry (RCOI). This can be an onerous and expensive requirement, as manufacturers must trace their supply chain all the way back to the source to determine if any component contains minerals coming from the DRC Conflict Region. The first SEC report filing is due by May 31, 2014, with annual filings to follow.