Thomson Reuters has released a Checkpoint white paper, Considerations for the 2018 Annual SEC Reporting and Proxy Season, which addresses several new or revised disclosure requirements that will impact public companies preparing to file their upcoming annual reports and proxy statements with the Securities and Exchange Commission.
The white paper covers pay ratio disclosures, scaled disclosure for emerging growth companies, exhibit hyperlink requirements, non-GAAP financial measures and revenue recognition, proxy access and future initiatives. The white paper also provides helpful background and recommendations for how registrants should prepare to comply with the new requirements and how to more easily utilize Thomson Reuters Checkpoint to locate relevant coverage.
Public companies must disclose the ratio of their CEO’s annual compensation to that of their median employee for the first fiscal year beginning on or after January 1, 2017. The white paper offers guidance on the use of reasonable estimates and internal records in determination of the median employee.
“The upcoming annual SEC reporting and proxy season places large demands on public companies,” said Salim Sunderji, managing director, Checkpoint, with the Tax & Accounting business of Thomson Reuters. “We hope this white paper will assist those companies and their professional advisors to more easily identify the relevant new or revised disclosure requirements, with advice on how they can best prepare for compliance.”
New amendments adopted by the SEC that affect emerging growth companies—including the new annual gross revenue threshold amount that defines an EGC and new scaled disclosure requirements, are addressed in the white paper.
The white paper also covers updated SEC interpretive guidance regarding non-GAAP financial measures, the Financial Accounting Standards Board’s new revenue recognition standards and 2017 highlights of proxy access, including related guidance for larger-cap companies against the backdrop of greater shareholder activism. In addition, the white paper considers future rulemaking initiatives on subjects including conflict minerals and environmental, social and governance matters.
To download the white paper, visit here.
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