SEC Professionals Groups

 New Segment Reporting Disclosures Effective for calendar year companies with 2024 10-K

Levongia Carrera's profile image
Levongia Carrera posted 12-10-2024 03:47 PM

Hello all,

There is a lot of discussion with our auditors (PwC) on what our significant expenses should include. We understand the CDOM package is in scope but there is also an emphasis being added to include what is said publicly (earnings calls, investor presentations, etc). Also what may be include in MD&A. All on a regular basis. This is potentially expanding the expense detail in the disclosure to levels the CDOM actually doesn't look at to evaluate the business and allocate resources. Seems a bit over reaching to me but wanted to check in with others to see what your auditors are requiring or you are doing in this area. Are you now expanding the expenses you disclose beyond what's in your CDOM package? 

Jake Roldan's profile image
Jake Roldan

We are pushing hard with KPMG that the focus be on what the CODM gets. There is consideration of what else is being provided publicly through other means, but the essence of the disclosure should be focused on what is used to manage the business, which is what the CODM gets on a regular basis.