Profession in Focus: A Conversation with SEC Chief Accountant Sagar Teotia during COVID-19

In this Profession in Focus webisode, the Securities and Exchange Commission’s Chief Accountant Sagar Teotia and CAQ Executive Director Julie Bell Lindsay have a discussion on critical issues facing public companies and auditors during the COVID-19 pandemic.

Watch the full video to hear Sagar’s insights on everything from going concern and internal control over financial reporting to second quarter accounting judgements and leadership changes at the FASB. He also has a message to all accountants who have been working hard to quickly adapt to changes resulting from COVID-19.

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0:52: A summary around the specific actions the SEC and Office of the Chief Accountant have proactively taken in response to COVID-19.

2:52: How can companies balance the need to provide good information to investors given the uncertainty of the pandemic?

5:30: A discussion around Going Concern and ICFR as it relates to COVID-19.

7:50: How has the pandemic impacted the oversight responsibilities of Audit Committees?

9:23: Key International areas of focus and their relevance to the US.

12:50: Considerations for FASB as standards move into a post-implementation phase.

15:43: Final remarks and key takeaways.