SEC Enforcement of Accounting and Reporting Regulation (Course Id 1433)

• Who is this course for?
  This course is designed for anyone needing Continuing Professional Education (CPE), including CPAs and other accounting professionals.

• What is this course about or what problem does this course solve?
  This course addresses the SEC’s role in ensuring accounting and reporting compliance and explains the enforcement process through real-world cases.

• How can the knowledge from this course be used?
  Participants can use the knowledge to understand and anticipate SEC enforcement actions, helping ensure compliance in their own or their clients' financial reporting.

• Why is this course important to a CPA, Accountant, or IRS Enrolled Agent?
  It is important because it helps professionals stay informed about regulatory expectations and consequences of non-compliance in financial reporting.

• When is this course relevant or timely?
  This course is especially timely following its recent revision in March 2024 and remains relevant as regulatory enforcement continues to evolve.

• How is a course like this consumed or used?
  The course is delivered as a QAS self-study text, allowing participants to complete it at their own pace, including a final exam that must be passed within one year of purchase.

This course covers the U.S. Securities and Exchange Commission’s (SEC’s) role in accounting and reporting compliance, provides a presentation of the SEC enforcement process and reviews actual enforcement cases.

NASBA QAS - Text - NASBA Registry - 1433

Course Learning Objectives

1. Recognize the U.S. Securities and Exchange Commission’s role in accounting and reporting compliance
2. Describe U.S. Securities and Exchange Commission investigation and enforcement process
3. Describe how the U.S. Securities and Exchange Commission and public companies disclose investigations

Chapter 1
The U.S. Securities and Exchange Commission’s Role

Chapter 2
U.S. Securities and Exchange Commission Investigations and Sanctions

Chapter 3
Making the Public Aware

Course Learning Objectives

Introduction

Chapter 1 - The U.S. Securities and Exchange Commission’s Role

Introduction

Importance of regulatory enforcement

Overview of the U.S. Securities and Exchange Commission

Corporate reporting guidelines

Limitations of regulatory enforcement

Accounting and Auditing Enforcement Releases

Chapter 1 Summary

Review Questions

Chapter 2 - U.S. Securities and Exchange Commission Investigations and Sanctions

Introduction

SEC investigation and enforcement

SEC accounting enforcement process.

Sanctions and firm effects

Determination of the fine amount.

Effect of sanctions.

Chapter 2 Summary

Review Questions

Chapter 3 - Making the Public Aware

Introduction

Company Disclosure

Litigation narratives.

Commitments and Contingencies.

Risk disclosures.

SEC Releases

Case 1

Case 2

Chapter 3 Summary

Review Questions

References

Glossary