 SEC Cost Estimating/ Reporting
The US Securities and Exchange Commission (SEC) is responsible for enforcing seven major laws concerning the sale of securities and corporate reporting. The SEC requires public companies to submit quarterly and annual reports including financial reports and a narrative account of the previous year’s operations and the goals of the upcoming year.
- When submitting these reports for your company, you must be sure to accurately: Determine contingent liabilities in relation to environmental remediation. ? Do you have ground rules for determining what is probable or estimable? Do red flags of concern rise up at the mere mention of an SEC audit?
- Audit for scrutiny driven by Sarbanes-Oxley Act, (requires fair business and accounting practices, makes it more important than ever to ensure that your SEC cost estimating, reporting, and auditing is well documented and in line with industry expectations.)
EHS support has experience working with corporations reporting from $50 to over $150 million in SEC contingent liabilities. We have developed a proprietary cost model and process to determine contingent liability and to quantify the probable and reasonably estimable scenarios that is consistent and reproducible with effective back up documentation.. The model is used for everything from development of SEC auditable remediation liability costs, to future cost estimates for liabilities developed during due diligence and annual budgets. |
