Has SEC's Y2K policy thrown materiality out the window?

✍ Scribed by Urbancic, Frank; Sylvestre, Jeanne; Hsu, Ko

• Book ID: 101225234
• Publisher: John Wiley and Sons
• Year: 1999
• Tongue: English
• Weight: 40 KB
• Volume: 10
• Category: Article
• ISSN: 1044-8136
• DOI: 10.1002/(sici)1097-0053(199922)10:4<55::aid-jcaf5>3.0.co;2-3

✦ Synopsis

A study of 280 companies implies that ad hoc actions by the Securities and Exchange Commission (SEC) on Year 2000 Problem (Y2K) disclosure virtually replaced the time-honored, established practice of using materiality as the basis for financial reporting.