An investigation of the accuracy of pre-implementation estimates required by SAB 74

Article Abstract:

Examination of the accuracy of both Staff Accounting Bulletin disclosures of the SEC and the accuracy of accumulated postretirement benefit obligation (APBO) of management showed the latter to produce forecasts closer to the APBO than Warshawsky et al's (1993) model. Management forecasts of APBOs were shown to deviate some 10% in 71.4% of corporations tested. Estimates in 70.5% of the firms also undervalued postretirement benefit obligations. Results showed estimates to be influenced by the factors of corporate benefit plan size and benefit cost volatility.

Accounting & Auditing Services, Accounting, Tax Preparation, Bookkeeping, and Payroll Services, Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Accounting Services Regulation, Standards, Accounting, Accounting services, Financial Accounting Standards Board, Accounting law

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The impact of SEC-required disclosure and insider-trading regulations on the bid/ask spreads in the over-the-counter market

Article Abstract:

The effects of SEC-required disclosure and insider-trading rules on the bid/ask spreads in the over-the-counter (OTC) market are investigated. Data analysis shows that bid/ask spreads did decline for both OTC industrial firms and national bonds after the enactment of the 1964 SEC amendments to the Securities Act of 1933 and the Securities Exchange Act of 1934. However, this decline is traced to a change in the pricing system for OTC securities.

Analysis, Disclosure (Securities law), Over-the-counter markets, Over the counter markets

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SEC communications to the independent auditors: an analysis of enforcement actions

Article Abstract:

The impact of the SEC's enforcement program on the accounting and auditing profession is discussed. It serves as a tool to help ensure the quality and reliability of financial statements issued to the public. The enforcement releases have information and educational functions. They are legal documents approved by a judge and represents the findings and opinion of the Commission and its staff.

Evaluation, Auditing, Auditors

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