MD&A Issues, Off Balance Sheet Financing And New Audit Committee Responsibilities
Richard F. Langan of Nixon Peabody LLP
Richard Langan, Business Group Leader at Nixon Peabody LLP, presented a discussion on two current management's discussion and analysis ("MD&A") issues, off balance sheet financing, and new audit committee responsibilities. He began by noting that "MD&A is the linchpin of disclosure and is being closely scrutinized by the SEC's Corporation Finance and Enforcement Divisions." Other than the financial statements, MD&A is the area of disclosure that receives the most SEC comments.