The SEC recently posted to its website a slide deck (PDF) from a staff presentation at the Forums on Auditing in the Small Business Environment. The slides describe, among other things, some of the issues that the SEC frequently encounters in periodic filings made by smaller reporting companies.
When commenting on the periodic reports of smaller reporting companies, the SEC generally requests:
- additional information;
- additional or clarifying disclosure in future filings; or
- filing amendments to revise financial statements or disclosure.