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SEC Chief Accountant Discusses Auditors’ Responsibility for Fraud Detection

By Paul Munter October 13, 2022 by Paul Munter

Fraud causes significant losses to investors each year.[1] Frauds that affect issuers and their investors may involve asset misappropriation, financial reporting misconduct, or, more generally, corruption. The Association of Certified Fraud Examiners (“ACFE”) estimates that organizations lose 5% …

SEC Accounting Chief Warns Chinese Companies About Risks of Changing Auditors

By Paul Munter September 8, 2022 by Paul Munter

One of the recent central themes of the Office of the Chief Accountant[1] has been that high-quality audits are foundational to the trust that underlies capital markets.[2] High-quality audits protect investors, instill shareholder confidence in the quality of …

SEC’s Accounting Chief on Financial Reporting and the Priorities of His Office

By Paul Munter December 7, 2021 by Paul Munter

The events of the past year bring to mind the old saying that “change is the only constant in life.”[1] Our capital markets continue to evolve and adapt in response to changes in the economic environment, investors’ needs for

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SEC Speaks on Accounting and Reporting Considerations for SPAC Warrants

By John Coates and Paul Munter April 13, 2021 by Paul Munter

In a recent statement,[1] Acting Chief Accountant Paul Munter highlighted a number of important financial reporting considerations for SPACs.[2] Among other things, that statement highlighted challenges associated with the accounting for complex financial instruments that may be common

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SEC’s Acting Chief Accountant Discusses Reporting and Auditing Issues for Companies Merging with SPACs

By Paul Munter April 1, 2021 by Paul Munter

In recent years, we have seen significant market developments and innovation in our capital markets, with a variety of structures being utilized to raise capital and facilitate taking private companies public.[1]

The U.S. capital markets are often described as

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The CLS Blue Sky Blog

Columbia Law School's Blog on Corporations and the Capital Markets

Paul Munter

SEC Chief Accountant Discusses Auditors’ Responsibility for Fraud Detection

SEC Accounting Chief Warns Chinese Companies About Risks of Changing Auditors

SEC’s Accounting Chief on Financial Reporting and the Priorities of His Office

SEC Speaks on Accounting and Reporting Considerations for SPAC Warrants

SEC’s Acting Chief Accountant Discusses Reporting and Auditing Issues for Companies Merging with SPACs