Updated: Q&A on the public business entity definition
FINANCIAL REPORTING INSIGHTS |
We have updated our white paper, Q&A on the public business entity definition, to include the definition of a security and cover the guidance issued by the American Institute of Certified Public Accountants in Section 7100, Definition of a Public Business Entity, of its Technical Questions and Answers, including guidance related to:
- The form of securities that should be considered when evaluating whether an entity is a public business entity.
- The factors to consider in determining whether an over-the-counter market exists.
- The nature of contractual restrictions that may exist on the transfer of a security.