The change comes after the Securities and Exchange Commission clarified rules on this issue in May, stating that GAAP figures should be given prominence in financial reports and the use of adjustments should be kept to a minimum.
Complying with the new guidance will require CFOs to reevaluate figures they’ve been reporting for years, according to the report.
“There’s little appetite at the SEC for companies who don’t assess the guidance and self-correct,” Paula Hamric, a partner in BDO USA’s national SEC practice, told WSJ.
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UPMC gets financial boost from insurance division
AHA: Proposal to reduce Medicare appeals backlog won’t solve problem
